Polygon, which was recently Matic is trading on a breakout price pattern and can give good returns in the short term. The crypto has corrected from recent highs and is now at a good buying level.
In this article, we will try to find polygon crypto price target by looking at price chart ad indicators.
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Polygon Crypto Next Target
- Price: $0.2569
- 24-Hour Price Change: +0.83%
- Intraday High: $0.2599
- Intraday Low: $0.2486
- Market Capitalization: $491.66 million
- 24-Hour Trading Volume: $3.23 million
- Circulating Supply: 1.91 billion MATIC
- Total Supply: 10 billion MATIC
Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal with +20% upside potential to $0.35 resistance. Stop Loss at $0.225.
This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend.
Technical Indicators
- Patterns: Falling Wedge which usually results in a bullish breakout.
- Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down, Long-term trend is Strong Down.
- Momentum: Price is Oversold currently.
- Support and Resistance: Nearest Resistance Zone is $0.35, then $0.43.
Recent News
- MATIC to POL Upgrade: Polygon has initiated the upgrade from MATIC to POL on Ethereum’s mainnet.
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