Lokesh Gupta
24-02-2024
Impressive recovery shown by $Matic over the past month, with a significant bounce off the $0.69 level.
Last week, $Matic price surged above $0.80, marking a 22% increase and reclaiming a key resistance level.
The rally shows a V-shaped pattern with increased volume, signaling aggressive buying favoring the buyers.
On the daily chart, #Polygon price formed a double-bottom pattern above the demand zone, indicating bullish momentum.
The bullish closure of last week drove the price above a triangle formation on the chart.
A triangle pattern resembling past consolidations before the 2021 bull run suggests a possible repetition of such an event.
According to Coingabbar Price Analysis, Anticipated price action suggests #Polygon matic may stay above $1.1000 and potentially reach $1.5000 to $1.7000 in the near future.
KEY LEVELS :
RESISTANCE LEVEL : $1.5000-$3.0000
SUPPORT LEVEL : $0.05000-$0.02500
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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