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<p>The post <a href="https://coinpedia.org/price-analysis/polygon-matic-price-to-record-a-100-surge-with-a-potential-bullish-breakout/">Polygon (MATIC) Price To Record A 100% Surge With A Potential Bullish Breakout?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency market has recorded massive price volatility over the past few days. Moreover, the market leader, <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> has displayed a significant plunge after reclaiming $70K over the past weekend.</p> 
<p>On the other hand, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noreferrer noopener">Polygon price</a> has continued to display a neutral trend since the month started, indicating a weak bullish sentiment for it in the crypto space. With the rising volatility, will MATIC price record a bullish reversal and head toward its $1 mark or plunge to new lows?</p> 
<h2 class="wp-block-heading" id="h-polygon-matic-crypto-price-action">Polygon (MATIC) Crypto Price Action:</h2> 
<p>Despite increased price volatility in the crypto space over the past few weeks, the <a href="https://markets.coinpedia.org/polygon/" target="_blank" rel="noreferrer noopener">MATIC token</a> continues trading under a bearish sentiment by losing 1.12% within the past day with a trading volume of $189.42 Million. Further, it has lost 2.73% within the past week and 6.47% over the past month.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdPbXjMXq8PbUkMg7pu2HII7zWx1zARgFJd9BO1ZhitCm0rCkmmKdt2K3F_lEdR9qJMmmvxSNKZCqH29Estgxx3K4CLaivuTaqDIljuvJHGD2KroVj3HqK_8g1cxL5HNegpalIE5NA9Bj3f2dSTwYK5dqq0?key=rxAenJAq9H2lM9dOysAo8g" alt="Polygon Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: MATIC/USDT
 </figcaption>
</figure> 
<p>Furthermore, the Polygon crypto token has formed a symmetric triangle in the 1D time frame and is on the verge of breaking it, the outcome of which is uncertain.</p> 
<p>With a Year-to-Date (YTD) plunge of 46.57%, the Polygon token is presently listed at 21st position with a trading price of $0.5126 and a market capitalization of $5.127 Billion.</p> 
<h2 class="wp-block-heading" id="h-polygon-market-sentiments">Polygon Market Sentiments:</h2> 
<p>The technical indicator, MACD, shows a constant flatline in the 1D time frame. Further, its averages display a similar trend, highlighting uncertainty in future price action.</p> 
<p>On the other hand, the Relative Strength Index (RSI) continues hovering close to its halfway market. However, its average trendline shows a bullish convergence, suggesting a mixed sentiment in the crypto space.</p> 
<h2 class="wp-block-heading" id="h-will-matic-price-again">Will MATIC Price Again?</h2> 
<p>If the bulls break out of the triangle pattern, the Polygon price will regain momentum and prepare to test its resistance level of $0.690. Maintaining the price at that level will set the stage for the MATIC price to attempt to test its upper resistance level of $0.890 during the upcoming weeks.</p> 
<p>On the contrary, if the bears overpowered the bulls, the MATIC crypto will break down its important support level of $0.50 and plunge towards a new yearly low.</p>

Polygon (MATIC) Price To Record A 100% Surge With A Potential Bullish Breakout?

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