Convergence

Polygon

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/matic-price-jumps-33-this-month-whats-next-for-polygon-this-month/">MATIC Price Jumps 33% This Month! What’s Next For Polygon This Month?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency market has displayed a significant correction of 6.50% in its valuation within the past 24 hours, making it the biggest correction in the industry over the past few weeks. Further, the market leader, Bitcoin, has displayed a loss of approximately 7% within the past day.</p> 
<p>The <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">Polygon price</a> has recorded a correction of approximately 9% within the past 24 hours and 1.5% over the past seven days, indicating a bearish week for the crypto token in the market. Positively, the MATIC token has added 33.77% over the past 30 days, highlighting a bullish outlook in the long term perspective.</p> 
<h2 class="wp-block-heading" id="h-polygon-price-on-the-path-to-retest-its-support-of-1">Polygon Price On The Path To Retest Its Support Of $1?</h2> 
<p>The MATIC price traded in a consolidated range between $0.9002 and $1.0234 for a brief period, during which it displayed significant fluctuations in the chart. As the market volatility increased, the bulls successfully broke out of the resistance level. However, the rally was short-lived, resulting in the price displaying a neutral trend for the next few days.</p> 
<p>After hitting a top of $1.1502, the bulls lost momentum and started trading under a bearish influence. The MATIC token recorded a loss of 16.65% in the chart. After testing its low of $0.9586, the bulls regained momentum and started trading under a bullish influence.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/HUW848nJhxGPsEJUfS_-XK1y4kJTaWVeY43GLkG0gWuPAU_onom1L55zKEn2GvOcYiJVJPE8qcpq9P6vYjRmICc85YDgfz5p4ysa7NswxCDDSgF0tI5VGbzJXnZS7SyhZOpKedecltp-hqQWrafWAs4" alt="MATIC Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: MATIC/USDT
 </figcaption>
</figure> 
<p>The MATIC token jumped 22.57%, after which it lost momentum just above the resistance level of $1.1502. After trading sideways for a while, the bulls regained momentum and successfully broke out of the range. Since then, the price has been trading in a consolidated range.</p> 
<p>The Moving Average Convergence Divergence (MACD) displays a constant fall in the red histogram, indicating an increased selling-over-buying pressure in the crypto industry. Moreover, the averages show a significant fall in the chart, suggesting the price will continue losing value in the coming time.</p> 
<h2 class="wp-block-heading" id="h-will-matic-price-increase">Will MATIC Price Increase?</h2> 
<p>If the market holds the price above the support level of $1.1502, the bulls will regain momentum and test its resistance level of $1.2184 this week. Further, if the MATIC token continues to trade under a bullish sentiment, it will prepare to test its upper resistance level of $1.2847 over the weekend.</p> 
<p>Negatively, if the bears continue to overpower the bulls, the Polygon price will fall to test its support level of $1.0796. Moreover, if the bears continue to hold power, it will plunge and prepare to test its crucial support level of $1.0234.</p>

MATIC Price Jumps 33% This Month! What’s Next For Polygon This Month?

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