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Gate Square New & Returning Creator Rewards are ongoing!
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MATIC price prediction: Altcoin is poised for a 20% move!
The price of Polygon (MATIC) is trading in a range of $0.73 to $0.96 (red arrow) after being rejected by long-term resistance in early November 2023. During the week of January 22-28, 2024, the altcoin bounced off the support of the range. An upward pin bar candle (green arrow) at this support level has formed. This indicates strong buying pressure.
The weekly RSI (Relative Strength Index) has consistently stayed above the 50 level for the past few weeks. This suggests that the advantage is still with the bulls. Therefore, MATIC price is likely to rise to the resistance level of the range in the near future. This corresponds to a potential increase of 21.25% from the current price.
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