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      Polygon price prediction – To cross $2 soon? - Stocks Telegraph

      By Muskan

      Published on

      July 28, 2021

      9:13 AM UTC

      Polygon price prediction – To cross $2 soon? - Stocks Telegraph

      Polygon has been trending upwards for more than a week now. The cryptocurrency had garnered a lot of attention during the 2021 bull run. MATIC has a history of being bullish despite a bearish trend in the market. The current price action shows a similar trend. Polygon has been portraying bullish momentum even when the market was bearish at large. At the time of press, Polygon stands at a price level of $1.02. The price has moved up by 2% in the past twenty-four hours while the weekly gain is at 37%. The daily trading volume has dropped by 26% of the seventeenth largest cryptocurrency.

      MATIC technical analysis

      The bulls may have taken a back seat as the market outlook for Polygon has turned neutral. Ten of the total twenty-six technical indicators are giving out an indication of buy. Nine of the rest are standing at a neutral position with five indicators at a sell position.

      Polygon price prediction
      Polygon price prediction

      Polygon has broken out of the descending channel it had been operating in because of the recent bullish momentum in the market. However, a trader’s analysis predicts the cryptocurrency will soon undergo market corrections. In the short timeframes, Polygon may be moving downwards. But the long-term price prediction for Polygon continues to be bullish. The trader expects MATIC to continuing reaching upwards after the corrections. The first price target for the cryptocurrency lies at $1.60 followed by $2.50.

      Polygon price prediction

      MATIC is believed to possess a lot of potential. The future projections for the cryptocurrency are optimistic. According to the estimates of Wallet Investor, the one-year forecast is at $3.2 while the five-year projection shows a price level of $12.9. Digital Coin Price is also bullish on the cryptocurrency, although not as much. Their estimates suggest Polygon will end the year with a price level of $1.46 and reach towards $3.56 in five years’ time.

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