Impressive Recovery of $Matic
Over the past month, $Matic has displayed an impressive recovery, bouncing significantly off the $0.69 level.
Recent Surge and Key Resistance Level
Last week, the price of $Matic surged above $0.80, marking a 22% increase and successfully reclaiming a key resistance level.
Rally with V-Shaped Pattern and Increased Volume
The rally exhibits a V-shaped pattern on the charts, accompanied by increased volume, signaling aggressive buying and favoring the buyers.
Double-Bottom Pattern and Bullish Momentum
On the daily chart, #Polygon’s price formed a double-bottom pattern above the demand zone, indicating bullish momentum.
Breaking Above Triangle Formation
The bullish closure of last week drove the price above a triangle formation on the chart.
A triangle pattern, reminiscent of past consolidations before the 2021 bull run, suggests a potential repetition of such an event.
Price Analysis and Anticipated Movement
According to Coingabbar Price Analysis, the anticipated price action suggests that #Polygon Matic may stay above $1.1000 and potentially reach $1.5000 to $1.7000 in the near future.
Key Price Levels
- Resistance Level: $1.5000-$3.0000
- Support Level: $0.05000-$0.02500
