Convergence

Rally

Strong

Polygon

<img width="1200" height="578" src="https://coingape.com/wp-content/uploads/2023/12/3Td8zncP-e1703686837272.png" class="attachment-full size-full wp-post-image" alt="MATIC price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Polygon Price Prediction: In a climate riddled with market uncertainty, Polygon coin has emerged as a beacon of stability, effectively maintaining its ground above the pivotal $0.75 support mark. The past eight days have witnessed <a href="https://coingape.com/polygon-matic-hits-0-90-time-to-buy-before-bullish-rally/">a commendable rally</a> in the MATIC value, culminating in a 43% surge, with the altcoin now trading at the $1.07 mark. This upturn signifies the coin’s exit from a month-long consolidation phase, thereby renewing the momentum in its recovery trajectory. 
Also Read: <a href="https://coingape.com/polygon-matic-price-gives-a-strong-breakout-above-1-expect-70-rally-ahead/">Polygon (MATIC) Price Gives A Strong Breakout Above $1, Expect 70% Rally Ahead</a> 
<h2 id="b-triangle-pattern-sets-matic-rally-to-1-4-b">Triangle Pattern Sets MATIC Rally to $1.4</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A bullish breakout from the triangle pattern sets MATIC price on the direction rally</li> 
 <li style="font-weight: 400;" aria-level="1">A bullish crossover between the 100-and-200-day EMA could attack more buyers in the market.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume of the MATIC coin is $2.5 Billion, showing a 192 gain.</li> 
</ul> 
<img decoding="async" src="https://s3.tradingview.com/snapshots/3/3Td8zncP.png" alt="TradingView Chart"> 
The consolidation phase for <a href="https://coingape.com/price/polygon/">Polygon price</a> began in mid-November, a response to the coin retracting from a monthly high resistance point of $0.84. This period was characterized by fluctuations within two converging timelines, laying the groundwork for a bullish pennant pattern.&nbsp; 
<blockquote> 
 This pattern typically observed during an uptrend allows for a temporary respite, enabling buyers to regroup and gather strength for the next upward movement. Recently, there has been a notable increase in buying activity, which culminated in a decisive breakout from the pattern on December 26th.&nbsp; 
</blockquote> 
This breakout has significantly intensified the buying pressure, propelling the MATIC price past the important psychological threshold of $1. This upward movement was further underscored by an 11.5% increase in the coin’s value within a single day, accompanied by a substantial rise in trading volume.&nbsp; 
This combination of factors strongly reinforces the perception of a bullish trend among investors. Looking forward, the momentum generated by this pattern indicates a potential rise in the Matic price by an additional 10%, aiming for a target of $1.2, followed by $.14 
<h2 id="b-open-interest-in-futures-soars-to-387m-echoing-matic-s-growth-b">Open Interest in Futures Soars to $387M, Echoing MATIC’s Growth</h2> 
<img decoding="async" class="aligncenter size-full wp-image-171320" src="https://coingape.com/wp-content/uploads/2023/12/image_2023-12-27_19-43-15-e1703686903667.png" alt="MATIC Futures Open Interest (USD) " width="1200" height="348"> 
The growing investor interest in the Polygon coin is evident from the remarkable growth in open interest for its future. Data from CoinGlass reveals a steep increase from a low of $237.5 million on December 18th to a peak of $387.29 million, a level last observed in November 2022. This surge in open interest, combined with the upward trajectory of MATIC’s price, underscores a renewed confidence among investors and highlights an intensified focus on this digital currency 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A positive alignment between the daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a> 20&gt;50&gt;100&gt;200 accentuates the bullish sentiment among traders.</li> 
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: A recent bullish crossover between the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> and signal line indicates the recovery trend is back in action.</li> 
</ul> 
The post <a href="https://coingape.com/markets/polygon-price-prediction-as-escape-correction-with-30-growth/">Polygon Price Prediction As Buyers Escape Correction Trend with 30% Growth Potential</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Polygon Price Prediction As Buyers Escape Correction Trend with 30% Growth Potential

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