Polygon price analysis: MATIC rebalances above $1.74 as bullish momentum revives

TL;DR Breakdown

• The Polygon price analysis is bullish.
• Price is now standing on $1.74 level.
• Support for MATIC is present at $1.69.

The Polygon price analysis is bullish for today as the bullish momentum has taken over the market, and the price has been elevated up to $1.74 today. The bulls have been performing quite consistently for the past few days after finding the support floor at 1.49 level. Today, the trends have been extremely favorable towards the bulls, and the price has improved tremendously. This is a welcoming sign for the buyers as the bullish current has been quite overpowering since yesterday.

MATIC/USD 1-day price chart: Price reaches $1.74 after bulls regain momentum

The one-day Polygon price analysis is predicting an uptrend for the day as the price levels have moved further higher. The outcome of the bullish momentum has proved to be quite profitable for the overall value of the cryptocurrency, as the price has reached the $1.74 level gaining 10.44 percent value during the last 24 hours. The bullish wave is getting stronger as more and more pressure is being put forward from the buyers’ side. The moving average (MA) value is also trading below the price level at $1.64.

The volatility has decreased which means that price fluctuations might slow down a bit in the coming time period, However despite the Bollinger bands converging the volatiity remains quite high. The upper and lower Bollinger band values have changed as well as now the upper value is standing at $2.11 and the lower value is standing at $1.32. The Relative Strength Index (RSI) score has moved up to index 46 because of the climb in price.

Polygon price analysis: Recent developments and further technical indications

The price is continuously increasing according to the four hours Polygon price analysis. The price has increased significantly during the last 32 hours and the upwards trend has been seen going on during the last four hours as well. The price has been moving upwards quite consistently and has now reached up to $1.75, which is still quite higher than the moving average level i.e. $1.65.

A crossover between SMA 20 and SMA 50 curve took place earlier, and the four hours progress has been quite positive. The volatility has increased again and now the upper Bollinger bands value is sitting at $1.75 and the lower value is at $1.45. The RSI score has reached up to index 69, which is just at the border of the oversold zone.

Polygon price analysis conclusion

The bullish momentum has been intensifying over the past few days and so the circumstances have turned favorable for the bulls. Both the hourly and daily price predictions are indicating a rise in price and have reported that the MATIC/USD price has heightened up to $1.74 today. The cryptocurrency might face correction in the upcoming hours as the bulls migh be exhausted after a continuous performance for the last 32 hours.

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