The crypto space is becoming unpredictable every new day as more and more assets are visiting lower levels. Yet some of the altcoins are attempting a notable flip that could prevent them from plunging towards the danger zone. MATIC price, in contrast, is attempting a rebound which may happen after a slight pullback. However, until and unless the Polygon price does not slice through the strong resistance levels, the uptrend may not be validated.
Polygon price maintained a descending trend since the beginning of 2022 and by forming constant lower highs and lows, tested the lower support constantly. However, since the beginning of March, the asset is showcasing some possibility of ranging high as it is swinging in one of the decisive phases.
As seen in the chart, the MATIC price is swinging within a symmetrical triangle, but has yet to reach the apex. The reason may be the selling volume outpower the buying volume and hence the recovery is extremely slow. However, since the beginning of the month, the buying volume also has accumulated to some extent that may assist the price to sustain any turbulence if occurred. And in such a case, the breakout may be delayed.
However, the Polygon price is expected to hover within the triangle throughout the weekend and hit the lower support a couple of times. Eventually, a notable boost may uplift the price above the consolidation and hit the much required $1.69 levels in a short while from now, Yet the uptrend may not be considered as valid here as securing $2 is most important for the MATIC price at the moment.
Written by: Sahana Vibhute
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