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Sunday, November 27, 2022
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    HomeMarketMATIC Price Prediction: Why Rally Isn’t Over Yet

    MATIC Price Prediction: Why Rally Isn’t Over Yet

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    MATIC worth began a significant enhance from the $0.840 assist zone. Polygon patrons pumped the worth above $1.20 and there might be extra upsides.

    • MATIC worth rallied above the $1.00 and $1.20 resistance ranges towards the US greenback.
    • The worth is buying and selling effectively above $1.00 and the 100 easy shifting common (4-hours).
    • There’s a key contracting triangle forming with resistance at $1.22 on the 4-hours chart of the MATIC/USD pair (knowledge supply from Kraken).
    • The pair may proceed to rise and may quickly revisit the $1.50 resistance zone.

    Polygon’s MATIC Value Rallies Steadily

    After forming a base above the $0.800 stage, polygon’s worth began a contemporary enhance. MATIC worth broke the $0.880 and $0.980 resistance ranges to maneuver right into a constructive zone.

    There was a robust transfer above the $1.00 resistance and the 100 easy shifting common (4-hours). Lastly, the worth surged above the $1.20 resistance. A excessive was shaped close to $1.304 and the worth not too long ago began a draw back correction, just like bitcoin and ethereum.

    There was a transfer under the $1.22 and $1.20 ranges. The worth declined under the 23.6% Fib retracement stage of the upward transfer from the $0.838 swing low to $1.304 excessive.

    Nonetheless, matic bulls are energetic above the $1.15 stage. There’s additionally a key contracting triangle forming with resistance at $1.22 on the 4-hours chart of the MATIC/USD pair.  On the upside, an instantaneous resistance is close to the $1.22 zone.

    Polygon’s MATIC Price

    Supply: MATICUSD on TradingView.com

    The primary main resistance is forming close to the $1.240 zone. The principle resistance is now forming close to the $1.300 stage. If there’s an upside break above the $1.300 and $1.304 resistance ranges, the worth may begin one other sturdy enhance. Within the said case, the worth may rise steadily in the direction of the $1.50 stage.

    Dips Restricted in MATIC?

    If MATIC worth fails to proceed increased above the $1.22 or $1.24 ranges, it may begin a draw back correction. A right away assist on the draw back is close to the $1.150 stage.

    The principle assist is close to the $1.060 stage. A draw back break under the $1.060 stage may open the doorways for a contemporary decline in the direction of $0.950 or the 100 easy shifting common (4-hours). The subsequent main assist is close to the $0.850 stage.

    Technical Indicators

    4-hours MACD – The MACD for MATIC/USD is slowly dropping momentum within the bullish zone.

    4-hours RSI (Relative Energy Index) – The RSI for MATIC/USD is now above the 50 stage.

    Main Assist Ranges – $1.15 and $1.060.

    Main Resistance Ranges – $1.22, $1.24 and $1.30.



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