Price Analysis for Polygon Shows it may hit $3.20 or $1.95

At the time of writing, Polygon (MATIC) has been experiencing a high trend in terms of its services. It is clear from the current price that MATIC has achieved, which shows it is currently at $2.54 per MATIC.

The performance data surrounding MATIC shows that its price has surged by 33.19% in the past 30-days. Coming down to its performance in the past 7-days, MATIC’s price has surged by 13.62% in the past 7-days. As for the past 24-hours, MATIC’s price has surged by 3.32%.

Given the performance by MATIC in the past 7-days, it is clear that it is moving in the upper zone. It is expected that in the upcoming days, MATIC may build more momentum and grow in price.

The TradingView data shows that the overall sentiments for MATIC at present are in the bullish zone. The Strong Sell to Strong Buy meter shows that as of now, the scale is in favor of buying, but it is not close to the Strong Buy zone.

This means that the price of MATIC may continue growing and more investors may participate in buying more MATIC. At present, the sell-neutral-buy ratio is showing figures that are 3:9:14, which means that investors are more likely to buy MATIC than sell it.

This ensures that the current trend for MATIC is in the bullish zone and the investors may be open to investing than selling MATIC.

The technical analysis for MATIC shows that in the upcoming days, the investors may try to push MATIC’s price higher. If the buying momentum increases and stronger rallies come into play, MATIC may soon hit a price worth $2.845.

However, it may prove somewhat difficult for the bulls to cross the $2.5 figure as it is the first strong resistance mark for MATIC. If the bulls succeed, then $2.845 would be easy to achieve. Then it would be $2.845 that will act as the second strong resistance, where bears may increase their selling power.

If bulls manage to continue with their rally, they may be able to push its price higher, crossing the $3.00 figure. Moving from that point, the bulls may again kick in with another strong rally to hit $3.207 in the upcoming days.

On the other hand, the bears may attempt to pull MATIC below the 20-day SMA, which is currently represented by $2.234. However, the bears will be given a tough time at $2.4, which is the first strong support mark for MATIC.

However, if the bears succeed in pulling MATIC down to $2.234, they may go for another selling spree and bring it down to 50-day SMA. At present, the 20-day SMA for MATIC is $1.95.