Polygon

<p><em><strong>The price of Polygon (MATIC) is expected to rise significantly due to a bullish breakout from a falling wedge pattern, coupled with a healthy retracement. This sets the stage for a strong rally in MATIC’s price.</strong></em></p><h2 id="header-0">Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>On Monday, Polygon’s cryptocurrency, MATIC, surged as the overall market improved. With Bitcoin surpassing $70,000, MATIC quickly recovered, allowing buyers to regain lost ground. As a result, <a href="https://cryptosheadlines.com/polygon-matic-price-surges-5-as-xrp-reaches-0-53-whats-next/" rel="noopener noreferrer nofollow">Polygon’s price surged</a> by 7%, breaking through the key resistance level from the previous correction trend after rebounding from a 50% retracement level.</p><h3 id="strong-polygon-price-correction-and-potential-bullish-outlook-strong"><strong>Polygon Price Correction and Potential Bullish Outlook</strong></h3><p>The recent correction trend in <a href="https://cryptosheadlines.com/analyzing-polygon-matic-prices-and-resistance-patterns/" rel="noopener noreferrer nofollow">Polygon’s price can be observed through a falling wedge pattern</a> on the 4-hour chart. This pattern’s resistance trendline led to a significant decline from the $1.29 high to $0.86, representing a 32.8% loss in value.</p><p>However, this correction reached a 50% retracement according to the Fibonacci tool, bringing the price back to $0.947. Amidst the broader market recovery, this price increase breached the resistance trendline of the wedge pattern, signaling the potential end of the correction.</p><h3 id="strong-renowned-trader-s-analysis-and-bullish-indicators-strong"><strong>Renowned Trader’s Analysis and Bullish Indicators</strong></h3><p>In his latest analysis, well-known trader Alichart has highlighted <a href="https://cryptosheadlines.com/cardano-solana-and-polygon-matic-face-selloff-pressure-from-robinhood-and-celsius/" rel="noopener noreferrer nofollow">Polygon’s MATIC</a>, pointing towards a potentially bullish future. A key indicator he considers is the 30-day Market Value to Realized Value (MVRV) ratio.</p><blockquote>The 30-day MVRV shows <a href="https://twitter.com/search?q&#61;%24MATIC&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$MATIC</a> is in the buy zone! Historically, the last two entries into this zone saw <a href="https://twitter.com/hashtag/MATIC?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#MATIC</a> surge by 112% and 87%. This is a pattern in <a href="https://twitter.com/hashtag/Polygon?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#Polygon</a> trend worth watching! <a href="https://t.co/tICtvdLZ0d" rel="noopener noreferrer nofollow">pic.twitter.com/tICtvdLZ0d</a>— Ali (&#64;ali_charts) <a href="https://twitter.com/ali_charts/status/1776881848569704856?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">April 7, 2024</a></blockquote><h3 id="strong-polygon-price-analysis-and-technical-indicators-strong"><strong>Polygon Price Analysis and Technical Indicators</strong></h3><p>Currently, the MVRV ratio sits below 1, historically <a href="https://cryptosheadlines.com/significant-1000-surge-in-shiba-inu-shib-burn-rate-suggests-potential-price-rebound/" rel="noopener noreferrer nofollow">suggesting that the asset might be undervalued and potentially</a> in a buy zone. This observation holds significance as past instances of similar MVRV levels have been followed by impressive price upticks for MATIC—once by 112% and another by 87%.</p><h2 id="header-1">Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>Should the Polygon price maintain its breakout momentum, buyers could potentially drive a rally towards $1.08, followed by $1.30.</p><p><a href="https://cryptosheadlines.com/cardano-price-potential-repeating-2021-surge/" rel="noopener noreferrer nofollow">Also Read:   Cardano Price Potential: Repeating 2021 Surge</a></p><h3 id="strong-technical-indicators-strong"><strong>Technical Indicators</strong></h3><p>The uptick in the upper boundary of the Bollinger Band indicator indicates actively bullish momentum on an intraday basis. Additionally, a bullish upswing in both the MACD (blue) and signal (blue) lines suggests a shift in market sentiment towards bullishness. This <a href="https://cryptosheadlines.com/binance-ceo-embraces-meme-coin-craze-as-positive-indicator/" rel="noopener noreferrer nofollow">indicates that market participants are increasingly adopting a positive</a> outlook.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

Polygon Price Outlook: Anticipating 30% Upsurge in April After Correction

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