Ethereum

2024

Polygon

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<img width="1815" height="953" src="https://coingape.com/wp-content/uploads/2024/01/MATIC-1.png" class="attachment-full size-full wp-post-image" alt="Polygon Pirce prediction" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/01/MATIC-1.png 1815w, https://coingape.com/wp-content/uploads/2024/01/MATIC-1-300x158.png 300w, https://coingape.com/wp-content/uploads/2024/01/MATIC-1-1224x643.png 1224w, https://coingape.com/wp-content/uploads/2024/01/MATIC-1-768x403.png 768w, https://coingape.com/wp-content/uploads/2024/01/MATIC-1-1536x807.png 1536w, https://coingape.com/wp-content/uploads/2024/01/MATIC-1-150x79.png 150w" sizes="(max-width: 1815px) 100vw, 1815px">
Polygon price prediction: MATIC price is encountering supply pressure around the psychologically significant $0.8300 mark. Over the past week, the coin’s market value has dipped by 14%, with bears exerting downward pressure. The current falling price suggests the possibility of a breakdown below the lower support trendline of a rising wedge pattern, putting MATIC at risk of further correction. 
<figure id="attachment_172655" aria-describedby="caption-attachment-172655" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-large wp-image-172655" src="https://coingape.com/wp-content/uploads/2024/01/MATIC-1224x643.png" alt="MATIC" width="1224" height="643" srcset="https://coingape.com/wp-content/uploads/2024/01/MATIC-1224x643.png 1224w, https://coingape.com/wp-content/uploads/2024/01/MATIC-300x158.png 300w, https://coingape.com/wp-content/uploads/2024/01/MATIC-768x403.png 768w, https://coingape.com/wp-content/uploads/2024/01/MATIC-1536x807.png 1536w, https://coingape.com/wp-content/uploads/2024/01/MATIC-150x79.png 150w, https://coingape.com/wp-content/uploads/2024/01/MATIC.png 1815w" sizes="(max-width: 1224px) 100vw, 1224px">
 <figcaption id="caption-attachment-172655" class="wp-caption-text">
 Source, <a rel="nofollow" href="https://www.tradingview.com/x/LDswjIqd/">Tradingview</a>
 </figcaption>
</figure> 
The past few days have seen the <a href="https://coingape.com/price/polygon/">Polygon price</a> oscillating between $0.800 and $0.900, as conflicting bearish and bullish sentiments play out. This tug of war has resulted in a narrow trading range, with prices stabilizing both upward and downward. Presently, MATIC is hovering at <a rel="nofollow" href="https://coinmarketcap.com/currencies/polygon/">$0.8336</a>, indicating a potential short-term bearish trend. Despite a recent dip of over 2.5% in the last 48 hours, MATIC has shown overall recovery since its recent low, suggesting a positive outlook for the future. 
<h2 id="strong-analysts-positive-outlook-on-polygon-s-matic-strong">Analysts’ Positive Outlook on Polygon’s MATIC</h2> 
Renowned crypto analyst Ali expresses optimism that Polygon (MATIC), the Ethereum Layer-2 scalability solution, may revisit the $0.96 level by the end of January 2024. A surge in buying pressure around current levels could potentially propel MATIC toward $0.88 and even as high as $0.96. Despite a 0.35% decline over the past month, Polygon (MATIC) is garnering renewed interest, primarily due to its transition to Polygon 2.0. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw">#Polygon</a> | The TD Sequential presents a buy signal on <a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MATIC</a> 4-hour chart. 
 A spike in buying pressure around the current levels could see <a href="https://twitter.com/hashtag/MATIC?src=hash&amp;ref_src=twsrc%5Etfw">#MATIC</a> rebound, potentially toward $0.88, and even as high as $0.96. <a href="https://t.co/lj96zgPh7k">pic.twitter.com/lj96zgPh7k</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1743599512722059771?ref_src=twsrc%5Etfw">January 6, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="strong-technical-indicators-and-trends-for-polygon-s-matic-strong">Technical Indicators and Trends for Polygon’s MATIC</h2> 
If the price of MATIC remains above the $0.0800 support level, there’s potential for momentum to build, possibly leading to a test of resistance at $0.9600. Maintaining this level could pave the way for further gains up to the $0.1000 mark in the foreseeable future. However, in the event that bearish trends persist, MATIC’s price may breach its current support level and move towards a lower support level of $0.0700. 
<figure id="attachment_172650" aria-describedby="caption-attachment-172650" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-172650" src="https://coingape.com/wp-content/uploads/2024/01/MATICUSD_2024-01-06_20-13-57-1.png" alt="MATIC" width="1154" height="751" srcset="https://coingape.com/wp-content/uploads/2024/01/MATICUSD_2024-01-06_20-13-57-1.png 1154w, https://coingape.com/wp-content/uploads/2024/01/MATICUSD_2024-01-06_20-13-57-1-300x195.png 300w, https://coingape.com/wp-content/uploads/2024/01/MATICUSD_2024-01-06_20-13-57-1-768x500.png 768w, https://coingape.com/wp-content/uploads/2024/01/MATICUSD_2024-01-06_20-13-57-1-150x98.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-172650" class="wp-caption-text">
 MATIC/USD daily price chart, Source: <a rel="nofollow" href="https://www.tradingview.com/x/AnxHq18x/">Tradingview</a>
 </figcaption>
</figure> 
Technical indicators over the past 24 hours signal the potential for a bull run, with most moving averages and oscillators providing buying signals. The MACD indicates a bearish momentum as the blue MACD line crosses over the red signal line. The Relative Strength Index (RSI) stands at a neutral level of 44.17, indicating market equilibrium. Converging Bollinger bands suggest a heightened possibility of increased volatility in the days ahead. 
Read also 
<ul> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://coingape.com/polygon-matic-price-gives-a-strong-breakout-above-1-expect-70-rally-ahead/">Polygon’s MATIC Breaks $1 Barrier Amidst Market Upturn</a></li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://coingape.com/polygon-hits-major-network-adoption-milestone-is-matic-set-to-soar/">Polygon Hits Major Network Adoption Milestone, Is MATIC Set to Soar?</a></li> 
 <li style="font-weight: 400;" aria-level="1"><a href="https://coingape.com/polygon-matic-hits-0-90-time-to-buy-before-bullish-rally/">Polygon (MATIC) Hits $0.90, Time To Buy Before Bullish Rally?</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/polygon-price-prediction-can-matic-rebound-to-0-88/">Polygon Price Prediction: Can MATIC Rebound to $0.88?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Polygon Price Prediction: Can MATIC Rebound to $0.88?

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