Order

Cryptocurrency

Block

Polygon

Notable

<div class="finbold">
 <p class="paragraph">Despite facing challenges over the past year, Polygon (MATIC) showcases the potential to turn the tides and embark on the road of gains.&nbsp;</p>
 <p class="paragraph">The established support levels on higher time frames have demonstrated resilience, and liquidity has been successfully acquired. Anticipating a potential upward movement, it is noteworthy that MATIC has exhibited a relative underperformance.</p>
 <p class="paragraph">The forthcoming rally is projected to target the range of $1.25 to $1.50, according to a post on X from cryptocurrency expert Michael van de Poppe on January 28.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“I’m expecting another upwards push, although $MATIC has also been underperforming. Next rally could be to $1.25-1.50 region.”</p>
 </blockquote>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="549" src="https://cdn.thebittimes.com/images/2024/01/29/6d2541945ce32c1c2295c950886e7479.webp" alt="Support and resistance points for MATIC. Source: Michael van de Poppe
" class="wp-image-151876" srcset="https://cdn.thebittimes.com/images/2024/01/29/6d2541945ce32c1c2295c950886e7479.webp 1024w, https://cdn.thebittimes.com/images/2024/01/29/6d2541945ce32c1c2295c950886e7479.webp 300w, https://cdn.thebittimes.com/images/2024/01/29/6d2541945ce32c1c2295c950886e7479.webp 768w, https://cdn.thebittimes.com/images/2024/01/29/6d2541945ce32c1c2295c950886e7479.webp 1536w, https://cdn.thebittimes.com/images/2024/01/29/6d2541945ce32c1c2295c950886e7479.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Support and resistance points for MATIC. Source: Michael van de Poppe
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-fundamental-and-technical-indicators-nbsp">Fundamental and technical indicators&nbsp;</h2>
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 <p class="paragraph">In the recent time frame, Polygon is printing an interesting pattern and showcasing characteristics that spell out sound technical and fundamental performance.</p>
 <p class="paragraph">Notable among these are a prolonged downward movement spanning several weeks, favorable accumulation patterns, and positive momentum, as suggested by the RSI value.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="840" height="123" src="https://cdn.thebittimes.com/images/2024/01/29/2b5f001a4f3a716d0dd3a9697257f148.webp" alt="Polygon RSI chart. Source: TradingView" class="wp-image-151878" srcset="https://cdn.thebittimes.com/images/2024/01/29/2b5f001a4f3a716d0dd3a9697257f148.webp 840w, https://cdn.thebittimes.com/images/2024/01/29/2b5f001a4f3a716d0dd3a9697257f148.webp 300w, https://cdn.thebittimes.com/images/2024/01/29/2b5f001a4f3a716d0dd3a9697257f148.webp 768w" sizes="(max-width: 840px) 100vw, 840px">
  <figcaption class="wp-element-caption">
   Polygon RSI chart. Source: TradingView
  </figcaption>
 </figure>
 <p class="paragraph">Furthermore, the recent correction saw the price precisely decline to the daily Order Block (OB), where consolidation occurred. This trend signifies the strength of buyer (long) positions and a concerted effort by major players to accumulate the asset.</p>
 <p class="paragraph">Despite the low volume of purchases, the digital assets performance remains robust. Anticipation of increased volumes raises the likelihood of a notable surge in the token’s value.</p>
 <h2 class="wp-block-heading" id="polygon-price-analysis">Polygon price analysis</h2>
 <p class="paragraph">At the time of press, MATIC was trading at $0.7889, marking a decrease of -2.50% in the past 24 hours, contrary to the gains of 3.87% in the past week. However, this crypto lost -21.55% in the previous month.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/29/9b5b2f351496560daac0f1add9dd3129.webp" alt="Polygon 7-day price chart. Source: Finbold" class="wp-image-151879" srcset="https://cdn.thebittimes.com/images/2024/01/29/9b5b2f351496560daac0f1add9dd3129.webp 1024w, https://cdn.thebittimes.com/images/2024/01/29/9b5b2f351496560daac0f1add9dd3129.webp 300w, https://cdn.thebittimes.com/images/2024/01/29/9b5b2f351496560daac0f1add9dd3129.webp 768w, https://cdn.thebittimes.com/images/2024/01/29/9b5b2f351496560daac0f1add9dd3129.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Polygon 7-day price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">As for the technical indicators, they are pretty bearish on Polygon, with a rating of ‘sell’ at 10. With moving averages pointing to ‘sell’ at 9. Oscillators showing ‘neutral’ at 8.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="223" src="https://cdn.thebittimes.com/images/2024/01/29/4f587f6fb147a29a9c084166f326df98.webp" alt="Technical analysis of MATIC. Source: TradingView" class="wp-image-151880" srcset="https://cdn.thebittimes.com/images/2024/01/29/4f587f6fb147a29a9c084166f326df98.webp 1024w, https://cdn.thebittimes.com/images/2024/01/29/4f587f6fb147a29a9c084166f326df98.webp 300w, https://cdn.thebittimes.com/images/2024/01/29/4f587f6fb147a29a9c084166f326df98.webp 768w, https://cdn.thebittimes.com/images/2024/01/29/4f587f6fb147a29a9c084166f326df98.webp 1490w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Technical analysis of MATIC. Source: TradingView
  </figcaption>
 </figure>
 <p class="paragraph">With the current opportunity possibly being ‘buy the dip,’ investors should exercise caution when allocating resources and conduct thorough research and <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>.</p>
 <p class="paragraph"><strong><em>Disclaimer: </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/this-altcoin-could-soon-double-in-value-tbt78095.html">https://thebittimes.com/this-altcoin-could-soon-double-in-value-tbt78095.html</a></p>

This altcoin could soon double in value

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