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<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/cardanoada-seems-to-be-dead-will-polygon-matic-follow-the-suit/">Cardano(ADA) Seems to be Dead-Will Polygon (MATIC) Follow the Suit?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto markets have just turned bullish, with the trade advancing in the last quarter of the year. Bitcoin price marked new yearly highs above $35,000; Ethereum reached $1854; Chainlink (LINK) broke the prolonged consolidation and hit $11.6; and Solana surged above $30. Meanwhile, other altcoins like Cardano (ADA) &amp; Polygon (MATIC) are registering negligible price movement.</p> 
<h2 class="wp-block-heading" id="h-cardano-ada-price-analysis">Cardano (ADA) Price Analysis</h2> 
<p>Ever since the start of the year, the <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" target="_blank" rel="noreferrer noopener">Cardano (ADA) price</a> has been trading within a falling wedge pattern. The latest reversal from the lower support zone at $0.24 led to a price rise of nearly 20% but failed to achieve the pivotal resistance at $0.3. Although the indicators point towards an extended bullish trend, the weakening strength of the bulls raises huge concerns.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/w1INRbxqTgB2HGryWI957JwWAbE7XNcjtL34PGe0XqG_tiMktjjrEzqFR_gkgCxOYmEgyZDzrA77f1_EDiFtficyOlUG4SHlz0lpXK5CgZe0a40SSD3hUcbwibHR7vjCGyJI8rzqCPX42To7nMwU1w0" alt="">
</figure> 
<p>The price broke above the falling wedge, but the interim resistance at $0.283 hindered the progress of the rally. The token is trying to hold these levels tightly so that a fine upswing could resume after a brief consolidation. Although the DMI is bullish with the ADX flipping from the lower support, the enhanced bearish activity could nullify the bullish impact. Hence, leaving the token under bearish influence.&nbsp;</p> 
<h3 class="wp-block-heading" id="polygon-matic-price-analysis">Polygon (MATIC) Price Analysis</h3> 
<p>Polygon had displayed its strength in the first few months of the year, but the bulls weakened quickly after the rejection from $1.5. The recent upswing in the markets was believed to lift other tokens, including MATIC. Unfortunately, the token displayed a minor upswing wave, which was followed by a correction.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/RVMHpIsRDKoxjRjCqrI0ABSWkDCUk_FTQ5G1g2VdpKPEnHomfEjxknCVxUwLbT6Kx04HSEErknk9IUY6MjLK6--4mE7q-kG4pzHVsbFxRQBMSS8kZn8oZpzFViTr6GK2jEkIniCtncvnrLj6B2iP8sk" alt="">
</figure> 
<p>The <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noreferrer noopener">MATIC price</a> after breaking out of the falling wedge, is facing a hindrance in surpassing higher resistance. Besides, the RSI is plunging after testing the overbought levels, signaling the price could face a trend reversal as it happened before. However, the recent rebound also flashes the possibility of a rebound after a short-lived consolidation. In such a case, the MATIC price may reach $0.7 by the end of the year.&nbsp;</p>

Cardano(ADA) Seems to be Dead-Will Polygon (MATIC) Follow the Suit?

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