The upward movement trend might drive Polygon (MATIC) price to the level of $1. The analysis of the past 200 days’ movement shows a positive bullish trend, and it seems to have cleared its daily cloud resistance.
The price movement analysis shows that MATIC is not following BTC price movements; instead, it triggers a drop in USDT supremacy to maintain bullish momentum. As per Coingecko, the cryptocurrency’s price grew 19% during the last 30 days. In comparison, the other digital currencies struggled to remain in growth mode.
MATIC Price Analysis
The MATIC has been trading between $0.72 and $1.03, with a mid-range value at $0.88 since mid-July. The upward movement continued and raised the price of the coin to $0.93. As pointed out, the token still had enough strength to surpass the critical point and sustain higher price levels at this moment.
Moreover, MATIC just passed above a trendline that joined the high points of August and September, indicating a bullish discovery. As per expert opinion, if the coin crosses the level of $1, its next resistance maybe $1.31.
Mark L. Newton, working as strategy head of FS Insight, commented in his market update published on October 20, 2022:
MATIC has made a very bullish move, getting above the downtrend since August, something that’s not been seen yet in bitcoin and ether.
This is a bullish move, and anything above 86 cents likely gets us up to 95 cents, if not $1.05.
It is also important to note that MATIC has started a bullish trend irrespective of the market leader coins, BTC and Etherium, who had not still broken bearish movements.
The Possibilities OF Profit For MATIC Investors
The coin fluctuated between $.72 and $1.03 from July to the current month. At some point, it would settle at $0.88. The price touched a lower end at the start of the month and provided a profit opportunity for sellers. In addition, the price again started bullishly and reached a higher level of $0.93, giving profit venture for buyers.
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However, the token may again fall to $0.87 if the bulls lose momentum. Consumers have the opportunity to recoup their losses since MATIC is more likely to rebound and rise to $1 or even $1.05.
Long Term Forecast
Coincodex, an online data provider, predicted MTIC as the 11th largest cryptocurrency in market capitalization. Five-day predictions show a price of $1, which will be its high level after its highest-ever achievement price of $2.92 last December.