MATIC/USD Triggers A Fresh Increase; Price May Head For $1.0 Level

The Polygon price prediction shows that the MATIC bullish action touches the resistance level of $0.84 as the coin faces up.

Polygon Prediction Statistics Data:

• Polygon price now – $0.83
• Polygon market cap – $7.3 billion
• Polygon circulating supply – 8.73 billion
• Polygon total supply – 10 billion
• Polygon Coinmarketcap ranking – #11

MATIC/USD Market

Key Levels:

Resistance levels: $1.00, $1.05, $1.10

Support levels: $0.70, $0.65, $0.60

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MATIC/USD begins to refresh above the 9-day and 21-day moving averages to remain above the $0.80 resistance level as the coin currently trades at $0.83 with a bullish crossover. At the time of writing, the Polygon price touches the daily high of $0.84 resistance level.

Polygon Price Prediction: What to Expect from Polygon (MATIC)

Looking at the daily chart, parallel trade can only take over in MATIC trading if the $0.85 subsidy is maintained at all costs. At the moment, the technical indicator Relative Strength Index (14) is about to cross above the 60- level by sending bullish signals to the upside.

Meanwhile, the coin may continue to do well and the price could hit the resistance levels at $1.00, $1.05, and $1.10 as soon as the 9-day MA prepares to cross above the 21-day MA, On the contrary, if the technical indicator decides to make a quick turn back to the lower side, then, there may be a quick bearish drop within the channel and this may likely roll the market down to the support levels of $0.70, $0.65, and $0.60.

Against Bitcoin, the Polygon is trading above the 9-day and 21-day moving averages as the price is now hovering at 4148 SAT while the technical indicator Relative Strength Index (14) moves towards the 60-level. Meanwhile, the fact that the market moves slowly, the pair seems to be moving towards the upper boundary of the channel.

However, if this comes to pass, the resistance levels to be reached are located at 4500 SAT and above. On the other hand, a higher sustainable move below the moving averages may likely cancel the bullish pattern and could attract new sellers coming into the market with the next focus at the support levels of 3800 SAT and below.

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