The crypto space dipped hard and is currently consolidating within a very narrow range, yet not showing any signs of a rebound. Yet the altcoins show some upside momentum as they are standing strong above the strong support levels.
Polygon(MATIC) price despite extreme selling pressure sustained strongly above the trend line and mainly above $1.5.
Polygon blockchain is heading to become one of the finest blockchains ever in the crypto space with multiple partnerships, collaborations and very recently entering the NFT space. One the other hand, the daily active user hit an ATH earlier this month.
Along with NFT, Polygon all set to thrive in the gaming industry & DeFi. Moreover, the EIP-1559 implementation has been an icing on the cake. And hence with such fundamentals MATIC price tends to showcase a strong recovery at the earliest.
- The MATIC price showcase one of the stronger rally ever which roared like a monster to hit the highs just above $3
- Currently following a notable downtrend amid the extreme bearish trend hovering within the market.
- The asset plunged hard, yet sustained strongly above the strong uptrend line much above the $1.5 support levels
- The MATIC price has not touched the trend line despite multiple sell-offs within the crypto space and hence the asset could ignite a flip as it smashes the trend line
Source: https://coinpedia.org/price-analysis/polygonmatic-price-halts-at-1-5-level-whats-awaited-next/