- Polygon price may have printed a secure low.
- Polygon price shows reasons to buy on the Relative Strength Index.
- Invalidation of the uptrend thesis is a breach at $0.55.
MATIC price hints at a rally in the coming days as the Polygon Network may have bottomed over the weekend.
MATIC price is following the technicals
MATIC price is displaying reasons to believe in a 30% bull run in the coming days. The self-proclaimed Ethereum transaction solution coin may have printed its final bottom over the weekend at $0.55. Since the speculative low occured, the Polygon price has seen a resurgence of bulls into the market as price has already rallied 10%.
MATIC price currently trades at $0.62. The favorable trade setup will be to retest the $0.60 zone and then continue rallying with strong bullish engulfing candles. The Relative Strength Index has also climbed back into a buyers' zone which warrants the idea that a definitive low may be in.
MATIC/USDT 4-Hour Chart
Still, an invalidation level for the bullish thesis is necessary for investors looking to partake in an early gamble. A safe invalidation for the uptrend thesis will be a breach below $0.55. If the bears can manage to close below $0.55, they could induce a decline into $0.45, resulting in a 30% decrease from the current MATIC price.
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