Polygon(MATIC) Price Prepares for a 40% Increase, Has the Bulls Arrived?
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Recently, many cryptocurrencies, including Polygon, experienced a sharp drop in value along with Bitcoin. After the FOMC meeting, the MATIC price fell through a crucial support level. However, it quickly recovered from the aforementioned difficulties and is now aiming to overcome recent losses soon.
MATIC fell below FIB levels 0 ($0.758) and 1 ($1.050) and briefly traded below them. Declining below the $0.722 support level, MATIC collected sell-stop liquidity, and this was quickly followed by an increase in buying interest and the price of Bitcoin turned upside, resulting in a 9% gain.
The MATIC price rose above $0.758 in anticipation of the return of the bulls and the start of an uptrend. At the midpoint of 0.5 ($0.906), the first critical level for taking profits, the uptrend is expected to end.
By overcoming this hurdle, Polygon can reach a high Price Range of $1.05, which corresponds to a higher time frame. Despite the fact that this MATIC price change would result in a 40% overall gain, investors can take profits almost halfway through.
Conversely, it is a sign of weak buyers if the altcoin does not break above the $0.758 mark. The bullish argument is negated in this situation if MATIC breaks below $0.729, making it a resistance level and the bears take control. This could cause the crypto to fall below the $0.647 support level, allowing the bulls to attempt a rebound rally once more.
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