Well-known crypto trader and analyst KALEO took to Twitter this morning to share his expectation for what the price of Polygon (MATIC) could do in the coming days. According to the post, the trader entered a quick scalp long on the MATIC/BTC pair.
MATIC Network / Bitcoin (Source: KALEO)
The analyst then expects the pair to experience a squeeze before the price will retest the HTF breakdown level. The trader also shared his expectations for the USD chart. He explains that he believes that the price will be looking for a return to range highs at around $1.25 on this chart.
MATIC / USDT Perpetual Swap Contract (Source: KALEO)
CoinMarketCap indicates that MATIC is one of the cryptocurrencies in the green for today. MATIC is trading hands at $1.14 after a 1.65% price increase over the last day. MATIC was also able to reach a high of $1.16 and a low of $1.11 over the same time period. On the other hand, the altcoin’s weekly performance still needs some work as MATIC is down by more than $5 over the last seven days.
MATIC / Tether US 1D (Source: TradingView)
MATIC’s 24-hour trading volume is currently in the red zone and now stands at $409,717,723 after a more than 26% decrease since yesterday. With its market cap of $9,951,362,975, MATIC is currently ranked as the 9th biggest crypto in terms of market capitalization.
This places the altcoin right behind Dogecoin (DOGE) in the 8th position and in front of Solana (SOL) which is ranked 10th on the list of the biggest cryptos.
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Source: Cryptocurrency - investing.com
