Polygon (MATIC) might rally in the coming days as many believe that the Polygon Network has bottomed over the weekend.
MATIC is displaying signs of a possible 30% bull run in the days to come. The Ethereum transaction solution coin is expected to have bottomed at $0.55 over the past weekend. MATIC’s price has been revived by nearly 10% as bulls flocked to the crypto market.
MATIC is currently worth $0.6523. This favorable trade setup will test the $0.60 zone and will continue rallying with strong bullish candles.
MATIC’s Relative Strength Index (RSI) has also jumped back into the buyers’ zone, which leads people to believe that a definitive low may be in.
MATIC/ISDT 4-hour Chart (Source: FXStreet)
An invalidation for the uptrend thesis is still necessary for investors looking to partake in an early gamble. This invalidation will be a breach below $0.55. If the bears managed to close below $0.55, it is possible that they could decline to $0.45, which in turn will lead to a 30% decrease from MATIC’s current price.
As mentioned above, MATIC currently trades at $0.6523 after a 2.35% increase in price over the last 24 hours. The token reached a high of $0.672 over the same period. This price translates to about 0.0000207 BTC.
MATIC’s market cap currently stands at $5,177,315,079, and also saw a 24-hour trading volume of $523,459,714. According to CoinMarketCap, this is 34.52% less than yesterday’s figure.
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Source: Cryptocurrency - investing.com
