MATIC Price Prediction: Bulls Aim Fresh Rally To $1.12

Dec 1, 2022 06:00 am Cryptocurrency 118

MATIC price started a fresh increase from the $0.765 support zone. Polygon bulls are now aiming a fresh increase above the $1.00 resistance zone.

MATIC price started a decent increase above the $0.90 resistance against the US dollar.

The price is trading above $0.90 and the 100 simple moving average (4-hours).

There was a break above a key contracting triangle with resistance at $0.850 on the 4-hours chart of the MATIC/USD pair (data source from Kraken).

The pair could continue to rise towards the $1.00 and $1.12 resistance levels.

Polygon’s MATIC Price Eyes Steady Increase

This past month, polygon’s price declined below the $1.0 support zone. MATIC even broke the $0.85 support zone and the 100 simple moving average (4-hours).

However, the bulls were active near the $0.765 support zone. A low was formed near $0.7642 and the price started a decent recovery wave. The price was able to clear the $0.80 and $0.85 resistance levels. There was a break above the 23.6% Fib retracement level of the main drop from the $1.231 swing high ..

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