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<p>Polygon (MATIC) has seen a remarkable resurgence over the past week, overcoming several technical barriers to break through the significant $1 resistance level. According to CoinMarketCap data, Polygon’s price currently is up <a href="https://coinmarketcap.com/currencies/polygon/" target="_blank" rel="noopener noreferrer nofollow">6.44%</a> over the last 24 hours.</p>
<h2 class="wp-block-heading" id="strong-matic-surges-past-1-with-strong-momentum-strong"><strong>MATIC Surges Past $1 With Strong Momentum</strong></h2>
<p>TradingView <a href="https://www.tradingview.com/chart/MATICUSD/wtubgGKR-Will-MATIC-price-Reclaim-2/" target="_blank" rel="noopener noreferrer nofollow">chart analysis</a> by Coinpedia shows MATIC displaying resilience after a swift recovery, challenging the descending trendline over the past weeks. Significantly, Polygon jumped by nearly 20% last week, exhibiting strong bullish momentum. This revival indicates Polygon could be breaking out past the crucial $1 mark, continuing its uptrend.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="361" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-1024x361.png" alt="" class="wp-image-440431" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-1024x361.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-300x106.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-768x271.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-1536x542.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-2048x723.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-425x150.png 425w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-100x35.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-992x350.png 992w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698-788x278.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-698.png 1210w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Additionally, this month, Polygon’s bullish turn demonstrates expanding momentum amidst the wider cryptocurrency market’s recovery. A rounding bottom formation points to a positive 2024 for MATIC, with the potential to surpass its 52-week high.</p>
<p>The weekly price chart validates this bullish outlook, displaying a rounding reversal pattern and testing the vital $1 psychological threshold. This coincides with a 34% upsurge in trading volumes, forming a prospective double-bottom pattern with a neckline at $1. Hence, Polygon seems poised for a trend reversal.</p>
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<p>If bulls maintain control, the anticipated breakout rally could drive MATIC beyond $1, with Fibonacci levels showing possible targets of $1.33 and $1.63. The bullish momentum may propel Polygon’s price toward $2.</p>
<h2 class="wp-block-heading" id="strong-oscillators-confirm-upward-trajectory-strong"><strong>Oscillators Confirm Upward Trajectory</strong></h2>
<p>Furthermore, as <a href="https://x.com/victordelpino_/status/1759532831678529773?s=20" target="_blank" rel="noopener noreferrer nofollow">noted</a> by market analyst Victor del Pino, oscillators like the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are presenting buy signals for MATIC. This confirms the positive price movement observed, as Polygon has shaken off a head and shoulders bottoming pattern to conquer resistance at $0.981.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="413" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-1024x413.png" alt="" class="wp-image-440439" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-1024x413.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-300x121.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-766x309.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-1536x619.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-2048x826.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-372x150.png 372w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-100x40.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-868x350.png 868w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699-788x317.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-699.png 1587w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Should bullish momentum persist, Polygon could attempt to retest former highs around $1.08 and $1.12, according to del Pino’s analysis. This aligns with Coinpedia’s projection of Fibonacci targets at $1.33 and $1.63 if MATIC pushes past the $1 barrier. Polygon must preserve control above $1 over the coming days and weeks for the bull run to continue.&nbsp;</p>
<p>However, a steep drop below $0.96 could prompt escalated sell-offs, potentially sinking the price to $0.85. Therefore, Polygon must demonstrate sustained strength over $1 to realize further gains.</p>
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<p>The post <a href="https://captainaltcoin.com/polygons-price-breaks-crucial-resistance-matic-eyes-2-next-2/" rel="noopener noreferrer nofollow">Polygon’s Price Breaks Crucial Resistance: MATIC Eyes $2 Next</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Polygon’s Price Breaks Crucial Resistance: MATIC Eyes $2 Next

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