MATIC Price Prediction: Polygon hints at a retest of $1.95

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  • MATIC price is hovering above the weekly support level at $1.44, hinting at a move higher.
  • Investors can expect Polygon to rally at least 15% before encountering a tough hurdle.
  • A breakdown of the $1.41 support level will invalidate the bullish thesis.

MATIC price recovery after the January flash crash was good but is slowing down. The ongoing consolidation will likely result in an uptrend ( that propels Polygon to revisit crucial levels.

MATIC price sets the stage

MATIC price has been teetering above the $1.44 support level and will likely retest it soon. A bounce off this barrier could be the key to triggering an uptrend. In some cases, the rally could even begin before the initial pullback.

Regardless, investors can expect a minimum 15% ascent from MATIC price that tags the supply zone’s lower limit at $1.75. In a highly bullish scenario, Polygon could pierce this hurdle and make a run for the weekly resistance barrier at $1.95.

This move would bring total gains from 15% to 27%, from the current level at $1.53. Investors willing to go long could enter a pilot position at the current level and wait for a retest of the $1.44 barrier.

If the latter does not arrive, market participants can book profits following a retest of $1.75 and $1.95.

MATIC Price Prediction: Polygon hints at a retest of $1.95 - 1

MATIC/USDT 4-hour chart

While things seem straightforward for MATIC price, a breakdown of the $1.44 support level could dent their optimism. A four-hour candlestick close below $1.41, however, will create a lower low and invalidate the bullish thesis, making an ideal place to enter a stop-loss.

A bearish turn could see MATIC price crashing 13% before retesting the $1.23 weekly support level.

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