Bitcoin

Resistance

Polygon

MATIC price is up over 10% and it tested the $1.00 resistance. Polygon bulls are in full control, and they might aim for more upsides above $1.00. 
<ul> 
 <li>MATIC price started a fresh increase above the $0.850 resistance against the US dollar.</li> 
 <li>The price is trading above $0.95 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $0.958 on the 4-hour chart of the MATIC/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to move up if it clears the $1.00 resistance.</li> 
</ul> 
<h2 id="polygon-price-starts-fresh-surge">Polygon Price Starts Fresh Surge</h2> 
After forming a base above the $0.80 level, Polygon’s price started a fresh increase. MATIC cleared many hurdles near $0.880 and $0.900 to move into a positive zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rally-52800/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-momentum-to-3k/" target="_blank" rel="noopener ">Ethereum</a>. 
There was also a move above the $0.92 resistance and the 100 simple moving average (4 hours). Finally, it tested the $1.00 resistance. A multi-week high is formed near $1.000 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.8185 swing low to the $1.00 high. 
MATIC is trading above $0.950 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $0.958 on the 4-hour chart of the MATIC/USD pair. 
Immediate resistance is near the $0.995 zone. The first major resistance is near the $1.00 level. If there is an upside break above the $1.00 resistance level, the price could continue to rise. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-575751" src="https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461" alt="MATIC Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/MATIC.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/MATICUSD/" target="_blank" rel="noopener nofollow">MATICUSD on TradingView.com</a> 
The next major resistance is near $1.08. A clear move above the $1.08 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $1.120 level or $1.150. 
<h2 id="are-dips-limited-in-matic">Are Dips Limited in MATIC?</h2> 
If MATIC’s price fails to rise above the $1.00 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.955 level and the trend line. 
The main support is near the $0.900 level or the 50% Fib retracement level of the upward move from the $0.8185 swing low to the $1.00 high. A downside break below the $0.900 level could open the doors for a fresh decline toward $0.850. The next major support is near the $0.800 level. 
Technical Indicators 
4 hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone. 
4 hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level. 
Major Support Levels – $0.955 and $0.900. 
Major Resistance Levels – $1.00, $1.08, and $1.12.

MATIC Price Prediction: Polygon Rallies To $1 and Bulls Are Not Done Yet

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