The polygon price is largely consolidating along the overhead resistance which appears to be crucial as it shows the potential for coins to break through the levels ahead. Despite significant bullish pressure, the MATIC price continued to hold above $1 showing intermittent bullish signals over the next several days. The price with the new rise is testing one of the key weekly resistance levels that could rise markedly after a breakout.

The MATIC price is currently 12% above recent lows, up almost 40% since the beginning of the year and 15% above crucial support at the 200-day MA levels. Therefore, the price seems to be in an extremely strong position, and even if the bearish pressure increases, the levels may fall below $1, but it certainly holds at $0.93, which could trigger a notable bounce above $1.

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The token is facing significant opposition from bears at $1, as seen in the recent past. These levels have been strongly suppressing the price levels and forcing the price to face a huge rejection. However, the MATIC price is holding these levels strongly as the price may continue to consolidate for some time to come. After a brief buildup of strength, the price could go higher, but may not test the overhead resistance. Also, a pullback could aggravate the bull’s efforts to renew the upcoming uptrend.

Fortunately, the trading volume has intensified a bit and is largely dominated by bulls, so the bullish momentum could prevail for a long time. However, there is speculation that the price will trade flat for a few weeks if the bulls do not step up, but may not allow the bears to interfere. At the end of January, the price may sustain above $1, which may offer bullish momentum to sustain the bullish momentum ahead.

This post Polygon (MATIC) shows bullish continuation – headed for a break beyond $1.3?

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