- Polygon price may have printed a secure low.
- Polygon price shows reasons to buy on the Relative Strength Index.
- Invalidation of the uptrend thesis is a breach at $0.55.
MATIC price hints at a rally in the coming days as the Polygon Network may have bottomed over the weekend.
MATIC price is following the technicals
MATIC price is displaying reasons to believe in a 30% bull run in the coming days. The self-proclaimed Ethereum transaction solution coin may have printed its final bottom over the weekend at $0.55. Since the speculative low occured, the Polygon price has seen a resurgence of bulls into the market as price has already rallied 10%.
MATIC price currently trades at $0.62. The favorable trade setup will be to retest the $0.60 zone and then continue rallying with strong bullish engulfing candles. The Relative Strength Index has also climbed back into a buyers' zone which warrants the idea that a definitive low may be in.
MATIC/USDT 4-Hour Chart
Still, an invalidation level for the bullish thesis is necessary for investors looking to partake in an early gamble. A safe invalidation for the uptrend thesis will be a breach below $0.55. If the bears can manage to close below $0.55, they could induce a decline into $0.45, resulting in a 30% decrease from the current MATIC price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
Recommended Content
Editors’ Picks
Ripple Price Prediction: Whale accumulation sparks hope as rising exchange reserves signal caution
XRP sustains mid-week recovery as XRP/BTC flashes golden cross for the first time since 2017. Large volume holders increase XRP exposure, indicating rising demand and investor confidence.
Pi Network Price Forecast: PI eyes $0.66 as whale activity surges
Pi Network (PI) declines by nearly 4% on Friday, trading at $0.79 at press time. The technical outlook suggests a downward move ahead as the short-term recovery concludes with a trendline breakdown.
Bitcoin Weekly Forecast: BTC enters full price-discovery mode after seven straight weeks of gains
Bitcoin price stabilizes around $111,000 on Friday after reaching a new all-time high of $111,900 this week. Corporate accumulation, institutional demand, signs of easing regulations and fiscal woes in the US have fueled BTC’s rally.
Jupiter Price Forecast: JUP eyes $0.82 as Fluid backs Jupiter's upcoming lending protocol
Jupiter exchanges announced the upcoming launch of Jupiter Lend, powered by Fluid, on Solana this summer. With the announcement of Jupiter Lend, the JUP token surged 16% in the last 24 hours.
Bitcoin: BTC enters full price-discovery mode after seven straight weeks of gains
Bitcoin (BTC) price stabilizes near $111,000 on Friday after reaching a new all-time high of $111,900 this week. BTC enters an uncharted territory as a perfect storm of corporate accumulation, institutional demand, signs of easing regulation and increasing concerns among investors about debt sustainability in the United States (US) have fueled bullish momentum.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.