Polygon(MATIC)/USDT Technical Analysis at a Glance
Many altcoins surged remarkably during the 2021 bull rally and Polygon is one among them. The intensified rally attracted many popular crypto proponents, whales, celebs, etc. And since then MATIC set off to be the most preferred crypto to hold for the long term. Moreover, the constant collaborations and partnerships of Polygon with various entities have also induced immense trust in the project. And hence the investors now, appear to be pretty sure of a gigantic rally fast approaching in 2022.
| Short Term | The asset appears to be bullish as the buying volume is mounting |
| Mid-Term | Bulls giving a tough fight to the bears and hence a strong upside movement may be in place |
| Long-Term | Asset testing crucial levels, attempting a breakout and hence extremely bullish |
Polygon Price Technical Indicators
Polygon crypto price followed a notable uptrend since the beginning of Q4 after bottoming hard very close to $1. Further, the price ascended within a rising channel to test the $2 levels by the end of October. Woefully, the MATIC crypto plunged drastically, but the support levels at $1.5 were pretty strong. Therefore, the asset after hovering within narrow ranges for some time initiated with an ascending trend yet again.
Relative Strength Index(RSI)
The RSI, in the long term, similar to the Polygon(MATIC) crypto price is going parabolic and heading towards the upper levels. Currently, the trend appears to be bullish but once the RSI swings within the overbought region, some minor corrections are likely. A similar movement is seen in the short term too and hence currently appears bullish, yet may consolidate after experiencing a small pullback.
MACD
MACD shows almost equal buying and selling pressure accumulated over time in the long term. Currently, buying volume is slowly getting accumulated as the indicator unveiled a buy signal a couple of days before. Conversely, in the short term, the buying volume appears to have dominated over the past 7 to 10 days. And hence pointing towards a bullish trend ahead.
Moving Average
Amid the bearish trend in November, the 100-day MA acted as a strong support level. Currently, the price is distinct from both the 100-day and 200-day MA levels in the long term. However, in the short term, the bearish trend has just flipped into bullish as the 100-day MA just made its way across the 200-day MA levels, a couple of days before.
Bollinger Bands
The Bollinger bands have expanded from each other due to the constant spike in the last seven days. And hence in the long term, the asset with no sudden trend reversals may ascend towards the next target. A similar trend is witnessed in the short term too. Therefore, the asset is expected to continue coiling up, yet minor pullbacks may also be quite possible.
Polygon Price Analysis for the Week
Matic network price prediction for the week is pretty bullish as it began the monthly trade on a bullish note. And hence the price is undergoing a constant uptrend for the past 4 to 5 days. The asset sliced through the crucial resistance levels at $2.19 and marched high. Currently, the bears are also not completely passive, yet bulls seem to take care of them strongly. The price is expected to retest the resistance at $2.19 yet again before pulling the next leg up.
Source: Tradingview Date: 03-12-2021 Time: 11:30am
- The Polygon crypto price in the long term broke the huge cup and handle pattern at its neckline around $2.157.
- A small retest is quite possible to $2.197 levels from the current levels at $2.2. Further, the rally may accelerate and head towards the $3 target.
- The spike in the buying volume signifies the bullish trend including small consolidations that may last for a few more days.
Polygon Price for Today: 03 December 2021
The MATIC network coin after smashing $2 plunged below multiple times before closing the daily trade on a bullish note. The start of the present-day trade witnessed a tough fight between the bulls and the bears. However, the rally gained momentum and barged through the crucial levels at $2.197. The MATIC price today stands at $2.24 with a jump of 3.52%, despite a drop of 14% in the trading volume.
Where to Buy Polygon
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