Polygon (MATIC) The price continues to rise since Nov 17, with the bulls slowly but surely rising. MATIC The price is struggling to regain the bulls monthly pivot at $1.80. If the bulls can close above $1.80, we can expect the price to rally towards $2.48.
Polygon (MATIC) price continues to rise despite many hurdles. With this increase, the bulls are trying to consolidate the price in the short-term and then make a daily close above the monthly pivot. Once the bulls break this hurdle, they can rally to $2.48 quite easily with a potential of 38%.
‘Slight momentum’ in MATIC price continues to signal further bullishness. The uptrend started about a week before the ‘headwind’ that affected the crypto markets this week. The Relative Immigration Index (RSI) continues to show its upward movement since November 19th.
Besides all these technical indicators, MATIC traders managed to rally the important level of $1.57 and the 55-day Simple Moving Average (SMA) to become the support level.
Although MATIC price maintains this bullish outlook, it has slowed slightly as the bulls are still trying to regain control of the monthly pivot. However, if we consider the price action between November 11 and November 15, it is possible to see that this level has been very well defended by the bears in the past.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.