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Is Polygon Coin A Good Investment Amid Uncertainty?


polygon matic price

Published 21 mins ago

The last three months of price action in polygon coin shows the formation of a rounding bottom pattern. This bullish reversal pattern is characterized by a gradual U-shaped curve in which the price of an asset decreases over a period of time before gradually increasing again. However, With the ongoing uncertainty in the crypto market, MATIC is poised for a minor correction and offers a discounted opportunity to trade. Here are the levels that coin holders should watch


Key Points 

  • In theory, the rounding bottom pattern indicates a transition from a downtrend to an uptrend and is often considered a sign that a bottom has been reached.
  • The ongoing correction in MATIC price could stabilize the bullish trend for further rally.
  • The intraday trading volume in the MATIC is $411.2 Million, indicating a 14.3% loss.

Polygon Coin

Polygon CoinSource- –Tradingview

Amid the new year recovery, the Polygon coin price rallied 58.8% since January 1st and formed a local top at $1.193. However, concerned with today’s FOMC meeting, the market sentiment showed indecisiveness over the last two weeks and stalled bullish growth in a majority of cryptocurrencies. 

As a result, the Polygon coin price reverted from the $1.193 resistance and tumbled 7.5% to reach the current price of $1.09. Moreover, if the selling pressure persists, the altcoin may dive another 5.5% to retest this $1.03 support.

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However, the reducing volume during this pullback indicates this correction is temporary, and prices are likely to resume a bullish recovery. Thus, under the influence of the rounding bottom pattern, the coin price should challenge the $1.3 barrier in the near future. 

Anyhow, in an ideal bullish condition, this technical setup shall push the MATIC price to the $1.835 mark.

Technical Indicators

RSI: The Relative Strength Index indicator is a momentum oscillator that measures the strength of a coin’s price action by comparing the magnitude of recent gains to recent losses. Thus, a rising MATIC price and falling RSI hint at the weakness in bullish momentum and a higher possibility for the correction phase.


EMAs: the rising EMAs(20, 50, 100, and 200), wavering near the $1.03 and $0.935 mark, creates a strong support zone for coin holders.

Polygon Coin Price Intraday Levels

  • Spot rate: $1.09
  • Trend: Bearish
  • Volatility: Medium
  • Resistance levels- $1.19 and $1.3
  • Support levels- $1.035 and $0.935

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From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at)

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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