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  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

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Polygon Rises 1.5% To Trade Above $1.90

2021-11-01
in Altcoins
0
MATIC Price To Climb 20% Climb Amid Continued Polygon Adoption
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MATIC value has risen 1.5% over the past 24 hours to commerce at $1.934. Polygon should defend the 50-SMA assist to beat the present promoting stress. An increase above the downtrend line will verify a bullish breakout.

MATIC value rallied roughly 29% on October 28 to hit a excessive of $2.241. This MATIC rally shattered the $1.71 resistance because the Polygon bulls introduced their return to city.

Nonetheless, the value was rejected by the $2.240 resistance degree signaling the beginning of correction that noticed MATIC drop to hunt assist on the $1.753 assist degree on October 31.

The bulls have managed flip the $1.644 to $1.753 assist zone into assist which may present a base for the subsequent uptrend.

MATIC Worth Bulls Should Defend The 50-SMA Assist

Polygon value finds dynamic assist from the 50 four-hour easy transferring common for the reason that late buying and selling classes of Sunday. This has seen the asset rise roughly 1.53% to the present rice round $1.934.

A get away above the downtrend line round $1.940 may set off an upward rally in direction of $2.40 and finally tag the all-time excessive (ATH) round $2.70.

The upsloping transferring averages and the place of the Relative Energy Index (RSI) above the midline is a suggestion that the bulls are at present in charge of MATIC price.

MATIC/USD 4-Hour Chart

MATIC Price daily chart

On the four-hour chart, Polygon has bounced off the 50-period Easy Shifting Common (SMA) at $1.823 which is at present offering strong assist.

Subsequently, a slip under the 50-SMA will invalidate the aforementioned constructive outlook, a transfer that may point out that the latest break above $2.20 could have been a bull lure. As a result of a drop under this degree may see MATIC value drop to the $1.644 and $1.753 zone.

Nonetheless, if bulls push the value above the downtrend line, it is going to be a suggestion that the overhead stress is decreasing. If this occurs, it is going to be the beginning of an uptrend as bulls goal the ATH above $2.70.

On the time of writing, MATIC teeters round $1.934 on most crypto exchanges.

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