Polygon Matic

Polygon Matic to Rise 19% more to complete inverted Head & Shoulder pattern

Polygon Matic rose more than 152% after touching a bottom of $0.61 to above $1.56 and the price is moving to make the left shoulder of inverted head & shoulder.

The live Polygon Matic price today is $1.43 USD with a 24-hour trading volume of $1,170,514,476. Polygon Matic is down 5.76% in the last 24 hours, with a live market cap of $9,265,792,018. Just a week before we predicted the price to move $1.68 when it was standing at $1.15 and it is exactly following the trend and pattern.

We Predicted in our analysis that,

we have the neckline Head & Shoulder pattern at $1.18 to $1.25 area as highlighted in the chart above. Price is expected to rise from the entry price at $0.167 to this neckline zone. If price fail to break this neckline, I expect a reversal to the $1.03 to complete the right shoulder before a rise by 65% to $1.68 to complete its formation.

Read that analysis here.

Polygon Matic: Technical Analysis

Bitcoin Price dropped by 2.4% today which caused alts to drop and Matic dropped by almost 6% responding to the situation.

Polygon Matic
Source: Matic Price Chart on TradingView

However, if we see, the price is still in trend until it breaks below the shoulder line. It is making small corrections along with Bitcoin which is a healthier thing to strengthen the price upwards in long run. As the Chart above depicts, there is still a space of almost 19% rise there and if Bitcoin breaks the psychological resistance levels, we might even see prices going further above.

The above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. DYOR!

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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