{"id":16218,"date":"2023-01-17T09:52:59","date_gmt":"2023-01-17T13:52:59","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16218"},"modified":"2023-01-17T09:52:59","modified_gmt":"2023-01-17T13:52:59","slug":"matic-price-prediction-rally-could-resume-above-1-05","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/17\/matic-price-prediction-rally-could-resume-above-1-05\/","title":{"rendered":"MATIC Price Prediction: Rally Could Resume Above $1.05"},"content":{"rendered":"

MATIC price started a fresh increase from the $0.80 support zone. Polygon bulls are now aiming a another increase above the $1.05 resistance zone.<\/em><\/p>\n

MATIC price started a decent increase above the $0.85 resistance against the US dollar.
\nThe price is trading above $0.92 and the 100 simple moving average (4-hours).
\nThere is a key bullish trend line forming with support near $0.955 on the 4-hours chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to rise towards the $1.08 and $1.20 resistance levels.<\/p>\n

Polygon\u2019s MATIC Price Eyes More Upsides<\/h2>\n

This past month, polygon\u2019s price declined below the $0.80 support zone. MATIC even broke the $0.75 support zone and the 100 simple moving average (4-hours).<\/p>\n

However, the bulls were active near the $0.70 support zone. A base was formed above the $0.75 level and the price started a fresh increase. The price was able to clear the $0.80 and $0.85 resistance levels. The bulls took control above the $0.90 level and the 100 simple moving average (4-hours).<\/p>\n

Finally, the price spiked above the $1.0 level, outperforming bitcoin<\/a> and ethereum<\/a>. A high is formed near $1.05 and the price is now consolidating gains. It is trading above $0.92 and the 100 simple moving average (4-hours).<\/p>\n

MATIC price is also trading above the 23.6% Fib retracement level of the upward move from the $0.831 swing low to $1.054 high. On the upside, an immediate resistance is near the $1.02 level. The first major resistance is forming near the $1.05 zone.<\/p>\n

<\/a><\/p>\n

Source: MATICUSD on TradingView.com<\/a><\/p>\n

If there is an upside break above the $1.02 and $1.05 resistance levels, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.20 level.<\/p>\n

Dips Limited in MATIC?<\/h2>\n

If MATIC price fails to rise above the $1.02 and $1.05 resistance levels, it could start a downside correction. An immediate support on the downside is near the $1.0 level.<\/p>\n

The main support is near the $0.950 level and a bullish trend line. A downside break below the $0.950 level could open the doors for a fresh decline towards $0.90. The next major support is near the $0.85 level.<\/p>\n

Technical Indicators<\/p>\n

4-hours MACD \u2013 The MACD for MATIC\/USD is gaining momentum in the bullish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $1.0 and $0.95.<\/p>\n

Major Resistance Levels \u2013 $1.02, $1.05 and $1.20.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MATIC price started a fresh increase from the $0.80 support zone. Polygon bulls are now aiming a another increase above the $1.05 resistance zone.<\/em><\/p>\n

MATIC price started a decent increase above the $0.85 resistance against the US dollar.
\nThe price is trading above $0.92 and the 100 simple moving average (4-hours).
\nThere is a key bullish trend line forming with support near $0.955 on the 4-hours chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to rise towards the $1.08 and $1.20 resistance levels.<\/p>\n

Polygon\u2019s MATIC Price Eyes More Upsides<\/h2>\n

This past month, polygon\u2019s price declined below the $0.80 support zone. MATIC even broke the $0.75 support zone and the 100 simple moving average (4-hours).<\/p>\n

However, the bulls were active near the $0.70 support zone. A base was formed above the $0.75 level and the price started a fresh increase. The price was able to clear the $0.80 and $0.85 resistance levels. The bulls took control above the $0.90 level and the 100 simple moving average (4-hours).<\/p>\n

Finally, the price spiked above the $1.0 level, outperforming bitcoin<\/a> and ethereum<\/a>. A high is formed near $1.05 and the price is now consolidating gains. It is trading above $0.92 and the 100 simple moving average (4-hours).<\/p>\n

MATIC price is also trading above the 23.6% Fib retracement level of the upward move from the $0.831 swing low to $1.054 high. On the upside, an immediate resistance is near the $1.02 level. The first major resistance is forming near the $1.05 zone.<\/p>\n

<\/a><\/p>\n

Source: MATICUSD on TradingView.com<\/a><\/p>\n

If there is an upside break above the $1.02 and $1.05 resistance levels, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.20 level.<\/p>\n

Dips Limited in MATIC?<\/h2>\n

If MATIC price fails to rise above the $1.02 and $1.05 resistance levels, it could start a downside correction. An immediate support on the downside is near the $1.0 level.<\/p>\n

The main support is near the $0.950 level and a bullish trend line. A downside break below the $0.950 level could open the doors for a fresh decline towards $0.90. The next major support is near the $0.85 level.<\/p>\n

Technical Indicators<\/p>\n

4-hours MACD \u2013 The MACD for MATIC\/USD is gaining momentum in the bullish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $1.0 and $0.95.<\/p>\n

Major Resistance Levels \u2013 $1.02, $1.05 and $1.20.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-16218","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=16218"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16218\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16218"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}