Polygon Networks' MATIC price presents a profitable opportunity

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.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram