Convergence

Million

Polygon

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/polygon-price-repeatedly-fails-to-breakout-matic-price-to-retest-0-63/" rel="noopener noreferrer nofollow">Polygon Price Repeatedly Fails To Breakout! MATIC Price To Retest $0.63?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Despite a surge in the Ethereum-based tokens following the approval of the spot <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">ETH</a> ETF, the Polygon MATIC price has displayed a weak price action over the past six weeks, highlighting a rising disinterest of investors in the Layer-2 (L2) token.</p>
<p>The MATIC coin price has recorded a trading volume of $298.25 Million and a correction of approximately 1% within the past day. Furthermore, it has lost 2.57% over the past week and has a YTD return of -28.30%, suggesting a long-term bearish sentiment for the altcoin in the crypto space.</p>
<h2 class="wp-block-heading" id="h-matic-crypto-price-displays-a-consolidated-trend">MATIC Crypto Price Displays A Consolidated Trend:</h2>
<p>After displaying a sideways trend for the first month, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Polygon price</a> experienced a bullish reversal in its chart, recording a high of $1.29 on 13th March.</p>
<p>However, following this, the bulls lost momentum and recorded a correction of 50.96%, resulting in it hitting a low of $0.60. Since then, the MATIC coin price has traded in a closed range between $0.6325 and $0.7425, highlighting a decreased bullish sentiment.&nbsp;</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/UEtzZJUxUXjIQP6Bg_sR9yqPs-Tw2KDsr7HYeBvl7bB3L8a-IKY5s5MXwFftUbPc2yw0mMQMqyIWFoeS5ilouZc4HWU6tgYyxFmBp9zXjk_F5Srnpu2yR29uaq0Z3upG8Sz-0pdGdmWN2YTbY5L7-Rk" alt="Polygon (MATIC) Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: MATIC/USDT
 </figcaption>
</figure>
<p>Despite increased price volatility in the crypto space post-approval of the Ethereum ETF, the <a href="https://markets.coinpedia.org/polygon/" target="_blank" rel="noopener noreferrer nofollow">MATIC price</a> repeatedly failed to break out of the resistance level at $0.7425, indicating a weak price action for the altcoin in the crypto market.</p>
<p>With a trading price of $0.6965, a circulating supply of 9,907,383,504 MATIC, and a market cap of $6.894 Billion, the Polygon crypto has secured the 18th place in the top 100 cryptocurrencies by market cap.</p>
<h2 class="wp-block-heading" id="h-polygon-market-sentiments">Polygon Market Sentiments:</h2>
<p>The EMA 50-day acts as a support to the price chart, highlighting a strong bearish influence for this Layer-2 altcoin in the crypto market.</p>
<p>The Moving Average Convergence Divergence (MACD) shows a constant decline in the green histogram with its averages recording a bearish crossover in the 1D time. This suggests a negative outlook for the Polygon price in the coming time.</p>
<h2 class="wp-block-heading" id="h-will-matic-coin-go-up">Will MATIC Coin Go Up?</h2>
<p>If the bulls regain momentum, the Polygon crypto price will retest its resistance level of $0.7425. Furthermore, if the market experiences a rally, this could result in the MATIC token preparing to test its upper resistance level of $0.890 during the upcoming month.</p>
<p>However, if the bears continue to gain power over the bulls, the MATIC coin price will plunge toward its crucial support level of $0.6325 in the coming time.</p>

Polygon Price Repeatedly Fails To Breakout! MATIC Price To Retest $0.63?

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