MATIC/USD Beats the Market with 23.45% Gains

The Polygon price prediction happens to be one of the best-performing coins today as it breaks to the upside to touch the daily high.

Polygon Prediction Statistics Data:

• Polygon price now – $1.174
• Polygon market cap – $10.2 billion
• Polygon circulating supply – $8.73 billion
• Polygon total supply – $10 billion
• Polygon Coinmarketcap ranking – #11

MATIC/USD Market

Key Levels:

Resistance levels: $1.400, $1.500, $1.600

Support levels: $0.800, $0.700, $0.600

During the European session today, after MATIC/USD touches the high at $1.191 on the daily chart, the coin needs to experience more breaks to the positive side. The Polygon price is seen posting gains of over 23% in the last 24 hours, trading above the 9-day and 21-day moving averages at $1.174 while the technical indicator Relative Strength Index moves into the overbought region.

Polygon Price Prediction: Polygon (MATIC) Could Target $1.300 Level

Looking at the daily chart, the Polygon price retreats back within the channel after touching the daily high of $1.191. The price is now roaming around the $1.174 level but if the market continues the surge and squeeze; the $1.200 resistance level is likely to surface in the next few positive moves. Similarly, the Polygon (MATIC) might further look for higher price levels if the bulls continue to show commitment.

Moreover, the market is currently displaying a sign of subduing volatility with prices ready to cross above the upper boundary of the channel. Meanwhile, with the look of things, traders can see that the trading volume is rising heavily. Therefore, if MATIC/USD pair decides to stay under the control of the bulls, the price may spike to the potential resistance levels at $1.400, $1.500, and $1.600. But on the downside, any bearish movement below the lower boundary of the channel could bring the price to the support levels of $0.800, $0.700, and $0.600 respectively.

When compares with Bitcoin, Polygon (MATIC) crosses above the upper boundary of the channel for the price to reach the nearest resistance at 5672 SAT. This resistance may be effectively exceeded and the price could eventually need to close above it, therefore, there might not be any reason to expect a long-term bullish reversal.

However, if the coin decides to face the south, it could refresh lows under 4700 SAT and a possible bearish movement may likely meet the major support at 4500 SAT before falling to 4000 SAT and below while the buyers could push the market to the potential resistances at 6500 SAT and above as the technical indicator Relative Strength Index (14) is extremely at the positive side.

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