Polygon

<p><em><strong>The price of Polygon (MATIC) is expected to rise significantly due to a bullish breakout from a falling wedge pattern, coupled with a healthy retracement. This sets the stage for a strong rally in MATIC’s price.</strong></em></p><h2 id="header-0">Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>On Monday, Polygon’s cryptocurrency, MATIC, surged as the overall market improved. With Bitcoin surpassing $70,000, MATIC quickly recovered, allowing buyers to regain lost ground. As a result, <a href="https://cryptosheadlines.com/polygon-matic-price-surges-5-as-xrp-reaches-0-53-whats-next/" rel="noopener noreferrer nofollow">Polygon’s price surged</a> by 7%, breaking through the key resistance level from the previous correction trend after rebounding from a 50% retracement level.</p><h3 id="strong-polygon-price-correction-and-potential-bullish-outlook-strong"><strong>Polygon Price Correction and Potential Bullish Outlook</strong></h3><p>The recent correction trend in <a href="https://cryptosheadlines.com/analyzing-polygon-matic-prices-and-resistance-patterns/" rel="noopener noreferrer nofollow">Polygon’s price can be observed through a falling wedge pattern</a> on the 4-hour chart. This pattern’s resistance trendline led to a significant decline from the $1.29 high to $0.86, representing a 32.8% loss in value.</p><p>However, this correction reached a 50% retracement according to the Fibonacci tool, bringing the price back to $0.947. Amidst the broader market recovery, this price increase breached the resistance trendline of the wedge pattern, signaling the potential end of the correction.</p><h3 id="strong-renowned-trader-s-analysis-and-bullish-indicators-strong"><strong>Renowned Trader’s Analysis and Bullish Indicators</strong></h3><p>In his latest analysis, well-known trader Alichart has highlighted <a href="https://cryptosheadlines.com/cardano-solana-and-polygon-matic-face-selloff-pressure-from-robinhood-and-celsius/" rel="noopener noreferrer nofollow">Polygon’s MATIC</a>, pointing towards a potentially bullish future. A key indicator he considers is the 30-day Market Value to Realized Value (MVRV) ratio.</p><blockquote>The 30-day MVRV shows <a href="https://twitter.com/search?q&#61;%24MATIC&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$MATIC</a> is in the buy zone! Historically, the last two entries into this zone saw <a href="https://twitter.com/hashtag/MATIC?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#MATIC</a> surge by 112% and 87%. This is a pattern in <a href="https://twitter.com/hashtag/Polygon?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#Polygon</a> trend worth watching! <a href="https://t.co/tICtvdLZ0d" rel="noopener noreferrer nofollow">pic.twitter.com/tICtvdLZ0d</a>— Ali (&#64;ali_charts) <a href="https://twitter.com/ali_charts/status/1776881848569704856?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">April 7, 2024</a></blockquote><h3 id="strong-polygon-price-analysis-and-technical-indicators-strong"><strong>Polygon Price Analysis and Technical Indicators</strong></h3><p>Currently, the MVRV ratio sits below 1, historically <a href="https://cryptosheadlines.com/significant-1000-surge-in-shiba-inu-shib-burn-rate-suggests-potential-price-rebound/" rel="noopener noreferrer nofollow">suggesting that the asset might be undervalued and potentially</a> in a buy zone. This observation holds significance as past instances of similar MVRV levels have been followed by impressive price upticks for MATIC—once by 112% and another by 87%.</p><h2 id="header-1">Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>Should the Polygon price maintain its breakout momentum, buyers could potentially drive a rally towards $1.08, followed by $1.30.</p><p><a href="https://cryptosheadlines.com/cardano-price-potential-repeating-2021-surge/" rel="noopener noreferrer nofollow">Also Read:   Cardano Price Potential: Repeating 2021 Surge</a></p><h3 id="strong-technical-indicators-strong"><strong>Technical Indicators</strong></h3><p>The uptick in the upper boundary of the Bollinger Band indicator indicates actively bullish momentum on an intraday basis. Additionally, a bullish upswing in both the MACD (blue) and signal (blue) lines suggests a shift in market sentiment towards bullishness. This <a href="https://cryptosheadlines.com/binance-ceo-embraces-meme-coin-craze-as-positive-indicator/" rel="noopener noreferrer nofollow">indicates that market participants are increasingly adopting a positive</a> outlook.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

Polygon Price Outlook: Anticipating 30% Upsurge in April After Correction

Table of Contents

CryptosHeadlines.com

Andre artikler udgivet 8. apr. 2024

Dogecoin Price Prediction: Bulls' Crucial Test

Ripple CEO Makes Stunning Market Prediction

Morgan Creek-Backed Metaplanet Taps Bitcoin (BTC) As Treasury Asset

CLAMM trading options on the DeFi scene through PancakeSwap and Stryke collaboration

Development and Community Updates for March

Do Kwon Could Be Extradited to US; Terraform Labs Liable for Fraud in SEC Case

Join our free newsletter for daily crypto updates!