By: Adarsh Singh
MATIC coin price is observing a downtrend on the daily chart and can soon hit a new low in the future. Polygon price is currently trading with a loss of 1% and is trading near the value of $1.45. MATIC price bullish momentum can see a halt near the value of $2. In contrast, the hostile region in POLYGON while going down can be observed near $1. The price of the asset is trading above the 50 and 100 Days Moving Average, with a positive crossover in the future. The 100MA line is near $1.276 and can act as a temporary support of the coin. One can invest in MATIC coin according to the price action and risk adversity
Polygon coin has a market dominance of more than 0.45% and is ranked 19th in the cryptoverse. The coin is down by more than 45% from its all time high. The asset of the coin has a very high ROI and can soon see a new high. The market cap to TVL ratio of the Polygon may soon observe a new high of 1.5. The volume to market cap ratio of MATIC price hints towards a new high in the future.
The weekly technical chart of the Polygon price suggests a strong uptrend in price for the future. The price of the coin has seen a downside momentum of 8% in the intraday time frame. The daily chart of the MATIC suggests a weak bullish momentum in price.
The coin price has formed a bearish engulfing pattern on the daily chart. If the Polygon price jumps above the threshold of $1.8 then a strong upside momentum till $3 can be seen. The MATIC/BTC pair can also see a new high in the future.
MATIC coin price is currently seeing a downside momentum on the daily chart but can soon revert to the uptrend. MATIC/BTC pair can also see a breakout from the previous resistance in future . One can position their funds in the Polygon as per their risk capacity