Polygon (MATIC) Heading towards Liquidity Zone, Will the Price Now Head Above $1.1?

Polygon (MATIC) Heading towards Liquidity Zone, Will the Price Now Head Above $1.1?

MATIC Price analysis

The post Polygon (MATIC) Heading towards Liquidity Zone, Will the Price Now Head Above $1.1? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Polygon Network after an inverse parabolic price movement visited the lower liquidity zone yet again after a pretty long time. The price is currently hovering around the July 2021 crash levels and hence a similar recovery is expected in the next couple of days.

However, in doing so, the MATIC price is expected to slice through certain pivotal levels to secure the gained positions. 

The MATIC price consolidated below $1.12 at the beginning of the month and was on the verge to reach the $1.2 resistance. However, the sudden crash fueled by Terra’s UST dragged the MATIC price below $0.8 along with almost all the assets within the crypto space.

The price has rebounded from the same support zone a couple of times, forming a double bottom pattern. And hence the possibility of laying down a strong bullish uptrend is extremely high. 

MATIC Price

As per the daily chart put up by an analyst, the MATIC price is approaching the liquidity zone between $0.67 to $0.80, where-in a flip is much expected. If the asset ignites a flip from these levels, it may range high towards the upper resistance at $1.45 slicing through the 1.2 FIB levels.

However, at this stage, reaching out beyond $1.7 may be a pretty easy job that may uplift the price close to $2. 

Conversely, if in case the price fails to rebound, may dive deep into a bearish well slicing through the lower immediate support at $0.65.

The price could continue plunging hard below $0.5, and eventually, reach the levels around $0.37 in the worst cases. However, as the Polygon price appears poised to recover while fewer chances of a drastic plunge emerge.

Did you like this?
Tip Bitcoin Tradeboard with Cryptocurrency

Donate Bitcoin to Bitcoin Tradeboard

Scan to Donate Bitcoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to Bitcoin Tradeboard

Scan to Donate Bitcoin Cash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to Bitcoin Tradeboard

Scan to Donate Ethereum to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to Bitcoin Tradeboard

Scan to Donate Litecoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to Bitcoin Tradeboard

Scan to Donate Monero to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to Bitcoin Tradeboard

Scan to Donate ZCash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some ZCash: