Polygon Price Analysis: Matic Crypto On Fire Crossed The Mark Of $1.00

• Matic crypto price action shows excellent strength and spikes above $1.0 on the intraday session
• MATIC/BTC pair is trading positive by 16.65% at 0.00002048 BTC
• The 24-hour volume in Polygon is positive by 47.95% at $2,242,296,682

The 4-hour technical chart of Matic crypto projects a solid bullish trend. According to pivot points, Polygon’s critical support level is $0.75. Whereas if it moves upside, the crucial resistance to watch is $1.27. Besides, the chart also features a spinning top candle showing neither bear nor bulls could gain the upper hand.

The Exponential Moving Average (EMA), consisting of EMA 20 & 50, acts as solid support in the coin’s price. EMA 20 is moving above the EMA-50 line, indicating bullish momentum. Investors may perceive the price is also way above EMA-20. So until the price remains above both EMA, it will ensure Matic’s bullish momentum.

The CCI (Bullish) with the value of 140 indicates a buy signal in the coin, and the line is going down from 214 to 140 on intraday session considered to be in an overbought region. It may surge in short-term trading sessions.

The volume of (38.11M) showcases below the Volume MA (41.25M) of 20-days. The investors in Polygon are maintaining the order book to sustain their price at current levels. Investors may also observe constant volume in the chart, indicating solid sustainability.

The parabolic SAR indicator suggests a buy signal in Matic on May 11. No signs of a sell signal have been seen, which is an excellent sign for Polygon’s investors. 

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Matic’s crypto price was trading at $1.13 with 16.47% positive daily and 48.25% positive returns in the weekly period. Furthermore, technically, the price shows solid strength and is sustaining above the resistance of $1.10. With the support of overall market conditions, the price may hit the second resistance level of $1.27 in a future trading session, which will give additional returns up to 15% to the investors in the short term.

Resistance: $1.27

Support: $0.75

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