MATIC Likely to Step Above $0.90, Massive Gains on Tamadoge

Original author: Azeez Mustapha

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The Polygon price is recovering from the daily low at the $0.86 level as the market price heads to the upside.

Polygon Prediction Statistics Data:

• Polygon price now – $0.87
• Polygon market cap – $7.6 billion
• Polygon circulating supply – 8.68 billion
• Polygon total supply – 10 billion
• Polygon Coinmarketcap ranking – #12

MATIC/USD Market

Key Levels:

Resistance levels: $1.20, $1.30, $1.40

Support levels: $0.60, $0.50, $0.40

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MATIC/USD is trading above the 9-day and 21-day moving averages after touching the daily high at the $0.88 resistance level. At the time of writing, Polygon is changing hands at $0.87, having gained over 0.77% since the beginning of the European session. However, with latest the recovery, the digital asset is likely to head towards the upper boundary of the channel to increase the bullish movement.

Can MATIC Touch $0.90 as TAMA Heads to the North?

The Polygon price stays above the 9-day and 21-day moving averages at the price level of $0.87. However, if the bulls maintain the upward trend, MATIC/USD may touch the resistance levels of $1.20, $1.30, and $1.40 to push the price to the upside. However, any strong selling pressure below the lower boundary of the channel may drag the price downward.

However, should the Polygon crosses below the moving averages, a bearish continuation could bring the price to the supports at $0.60, $0.50, and $0.40. Meanwhile, the technical indicator Relative Strength Index (14) is moving above the 50-level, indicating a bullish movement.

When compares with Bitcoin, the Polygon price is heading to the north as the coin moves above the 9-day and 21-day moving averages. However, following the recent positive sign, the current market movement may continue to follow the upward movement if the buyers push the price towards the upper boundary of the channel.

Moreover, as the technical indicator Relative Strength Index (14) moves into the overbought region, the market price could hit the resistance level of 5300 SAT and above. Meanwhile, a retest below the moving averages could lower the price to the support level of 3800 SAT and below.

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Related:

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