The post MATIC Price Analysis: Will MATIC Price Top $1 In 2023? appeared first on Coinpedia Fintech News With altcoins prices rising higher, MATIC takes a bullish stand as 2023 concludes following the Uptober season gains. The Polygon coin price surpasses the crucial EMAs and app...
The post MATIC Price Analysis: Will MATIC Price Top $1 In 2023? appeared first on Coinpedia Fintech News
With altcoins prices rising higher, MATIC takes a bullish stand as 2023 concludes following the Uptober season gains. The Polygon coin price surpasses the crucial EMAs and approaches the psychological mark of $1.
Recovering from a negative 33% YTD growth in September, the Polygon recovery trend finally turns profitable. Moreover, with increased chances of an uptrend continuation, the MATIC price prediction hints at crossing $1 in 2023.
Following the double bottom reversal and the Uptober season rally, the MATIC price continues to ride on a high-speed recovery trend. Crossing above the 50-day and 200-day EMA, the golden crossover possibility arises in the Polygon chart.
Further, the recent 50% hike in the last twenty days puts the Polygon token in a profitable state after facing a 33% year-to-date drop in September. Supporting the recovery trend, the intraday trading volumes over the past few days have increased sharply.
Currently, the MATIC price crosses the $0.75 mark, following the 200-day EMA breakout. Moreover, the altcoin trades at $0.7633 with an intraday growth of 2.98%, reflecting a strong bullish momentum.
Technical indicators:
Stochastic RSI: The K and D lines are on a recovery trend and trade close to the overbought zone, reflecting a strong bullish momentum.
EMA indicator: The positive trend in the 50-day EMA showcases the possibility of a golden crossover. Moreover, the bull run crossing the 200-day EMA signals a trend reversal.
Will MATIC Price Sustain Above $0.75?
Following the 200-day EMA breakout, the MATIC price continues to rise and surpass the $0.75 mark. Further, the increasing volumes and strong bullish candles tease an uptrend continuation. Therefore, the chances are favourable for buyers to hold dominance at the $0.75 mark.
If the Polygon price exceeds $0.85, the uptrend can reach the psychological mark of $1.
Conversely, a reversal under $0.75 will drop the MATIC price to $0.55 if the buyers fail to hold dominance at $0.60.