MATIC Price Crosses $1; Bulls Ready For A New Run

The post MATIC Price Crosses $1; Bulls Ready For A New Run appeared first on Coinpedia Fintech News

As the bullish market continues to gain momentum, the altcoins are picking up pace, giving a breakout of lost levels. Amidst the recent top performers, the MATIC price reclaims the $1 mark, projecting a new breakout run.

With a new 52-week high on the charts, Polygon is offering a trend reversal pivotal point. Bolstering the uptrend in the coming weeks, our MATIC price prediction projects an extremely bullish 2024.

TradingView

With a bullish turnaround the in the weekly chart gaining momentum, the MATIC price crosses the $1 mark and the 23.60% Fib level. Marking a bullish breakout of a double bottom, the altcoin is heading to challenge the overhead resistance trendline.

With the double bottom breakout, the chances of a prolonged bull run in Polygon price have increased significantly. Moreover, the Fibonacci levels present a potential uptrend possibility of reaching the $2 mark, slightly above the 61.80% Fib level. 

On the tech side, the big giants are supporting and holding MATIC. For example, Meta has chosen MATIC for Instagram’s digital collectables, and even Google Cloud owns MATIC. 

Is MATIC Price Heading Towards $2?

Source – Tradingview

In the ongoing bull run, the rise in trading volume supports the uptrend and projects a likely continuation. In the daily chart, the MATIC price is ready to challenge the 78.60% Fib level to break past the $1.143 mark. 

Further, the rising daily RSI line teasing a cross above the 70% barrier to enter the overbought zone signals a boost in buying pressure. 

Considering the uptrend continues, the MATIC price can reach the $1.5 mark with the trendline breakout before taking on the $2 barrier.