2024

Hope

Polygon

Reversal

The post <a href="https://coinpedia.org/price-analysis/matic-price-reversal-brings-a-new-hope-for-bull-run-to-2/">MATIC Price Reversal Brings A New Hope For Bull Run To $2</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a bullish turnaround this month, the MATIC price trend is gaining momentum amidst the market recovery. The sharp turnaround helps Polygon continue the bull run from the bottom of $0.7262. 
As the turnaround completes a rounding bottom, the MATIC price heads to reclaiming $1 and potentially creating a new 52-week high. Further, as per our <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">MATIC price prediction</a>, the chances of a bullish 2024 are significantly high. 
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 <img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/02/19143747/image-132-1024x464.png" alt="" class="wp-image-271128" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/19143747/image-132-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/19143747/image-132-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/19143747/image-132-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/19143747/image-132-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/19143747/image-132-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/19143747/image-132.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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Source – <a href="https://www.tradingview.com/x/1P3c3GYA/">Tradingview</a> 
The weekly chart for MATIC exhibits a notable development, as a rounding reversal indicates a shift in momentum. The price action faces a persistent challenge at the crucial $1 psychological level.&nbsp; 
However, this week’s recent surge of 19.63% introduces a bullish candle formation. This positive movement hints at a potential surge in Polygon, fueling optimism for a strong comeback. 
The recent surge in the MATIC price has resulted in a sideways trend, indicating the potential formation of a double bottom pattern with a neckline at $1. This pattern suggests a potential reversal in the downtrend. Furthermore, the significant 34% increase in trading volume supports the possibility of a breakout. 
Currently, the MATIC price trades at $0.9952 and is ready for an uptrend above $1.&nbsp; 
<h2 class="wp-block-heading" id="h-is-matic-price-heading-towards-2">Is MATIC Price Heading Towards $2?</h2> 
The breakout rally approaching is expected to propel MATIC beyond the significant $1 threshold, positioning it for a potential surge in 2024. This anticipation is further strengthened by the rising trading volume, which reflects a growing market momentum as the broader market recovers. 
According to the Fibonacci levels, the uptrend in MATIC price could be heading for potential targets of $1.3370 and $1.6315 in the coming weeks. With the breakout of these levels, the additional momentum can easily lift the Polygon price to $2.&nbsp; 
Nevertheless, should the retest phase swiftly descend below the $0.96 range, an escalation in selling pressure is anticipated. This might lead to a drop to the $0.85 level.

MATIC Price Reversal Brings A New Hope For Bull Run To $2

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