The price of Polygon (MATIC) climbed more than 1.1% over the past 24 hours. Subsequently, the altcoin was changing hands at $0.6324 at press time. This positive movement over the past day of trading was also enough for MATIC to earn the top spot on CoinMarketCap’s trending list. ...
- MATIC’s price climbed more than 1.1% over the past 24 hours and stood at $0.6324 at press time.
- A symmetrical triangle had formed on MATIC’s weekly chart, which suggested that it may breakout in the medium term.
- From a shorter-term perspective, MATIC was attempting to overcome the $0.6830 threshold.
The price of Polygon (MATIC) climbed more than 1.1% over the past 24 hours. Subsequently, the altcoin was changing hands at $0.6324 at press time. This positive movement over the past day of trading was also enough for MATIC to earn the top spot on CoinMarketCap’s trending list. Meanwhile, technical indicators suggest that MATIC may be gearing up for a strong move.
A symmetrical triangle has formed on the weekly chart for MATIC over the past few months. This specific chart pattern suggests that a breakout may be in the cards for the altcoin’s price in the medium term. If this breakout is towards the downside, then MATIC may look to retest the key support level at $0.3190.
On the other hand, a positive breakout could lead to MATIC establishing a new all-time high (ATH) in the following couple of months.…
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