{"id":95372,"date":"2023-02-15T14:04:26","date_gmt":"2023-02-15T14:04:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/02\/15\/sustained-recovery-in-matic-price-eyes-next-target-of-1-5-crypto-news\/"},"modified":"2023-02-15T14:04:28","modified_gmt":"2023-02-15T14:04:28","slug":"sustained-recovery-in-matic-price-eyes-next-target-of-1-5-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sustained-recovery-in-matic-price-eyes-next-target-of-1-5-crypto-news\/","title":{"rendered":"Sustained Recovery In MATIC Price Eyes Next Target Of $1.5\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-139104\">\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"720\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/02\/14224703\/Polygon-blockchain.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"polygon (matic)\" decoding=\"async\"\/><\/noscript><\/div>\n<p class=\"MarketsUp f-14 d-block\">Published 7 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">With a series of new higher highs and higher lows, the MATIC price has continued to have a bullish rally since January 1st.  During this recovery, the coin price gained 68% and currently trades at $1.267.  Furthermore, under the influence of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rounding-bottom-pattern\/\">rounding bottom pattern<\/a>, the coin price is expected to witness sustained recovery after the breakout of the $0.131 barrier.  Thus, here&#8217;s this pattern may influence the polygon coin&#8217;s future trajectory.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<h2><span style=\"font-weight: 400;\">Key Points <\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The MATIC price is currently moving in a short consolidation between $0.31 and $0.178.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The rising EMAs (20, 50, 100, and 200) accentuate a strong recovery phase in the market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in the MATIC is $735.2 Million, indicating a 37.5% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Matic Price\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/8\/87im2AGW.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/8\/87im2AGW.png\" alt=\"Matic Price\" width=\"1946\" height=\"1104\"\/><\/noscript>Source-<\/span><span style=\"font-weight: 400;\">tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/polygon\/\">matic price<\/a> The daily time frame chart shows the formation of a rounding bottom pattern.  The emergence of this pattern itself is marked as sustained recovery and trend reversal in technical analysis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of now, the coin price wobbles between the pattern&#8217;s neckline resistance of $0.131 and the $1.178 support level, creating a narrow range.  Furthermore, with the release of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/breaking-crypto-prices-drop-with-higher-than-expected-us-cpi-data\/\">January CPI data<\/a>the crypto market turned bullish and surged in the market value of the majority of major crypto coins.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, the MATIC price witnessed a significant inflow on February 14th and rebounded from the $1.178 mark.  The altcoin is currently trading at $1.27 and is approaching the $0.131 neckline for a rematch.<\/span><\/p>\n<blockquote>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/best-telegram-crypto-channels-list\/\">CRYPTO TELEGRAM CHANNELS LIST 2023<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">A potential bullish breakout from this resistance could offer buyers strong support to lead to a further rally.  In addition, the technical setup of this rounding bottom pattern could drive the MATIC price to $1.87.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Technical Indicators<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><strong>EMA&#8217;s<\/strong>: The 20-day EMA has acted as a dynamic support for rising MATIC price, and thus traders can maintain a strong bullish outlook until this EMA remains intact.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p><span style=\"font-weight: 400;\"><strong>RSI<\/strong>: the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">daily-RSI slope<\/a> moving sideways despite rising price action indicates a weakness in underlying bullish momentum.  Thus, the coin price may witness a longer consolidation for the actual breakout.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">MATIC Coin Price Intraday Levels<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Spot Rate: $1.27<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Trend: Bullish<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Volatility: Low<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Resistance levels- $1.31 and $1.51<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Support levels- $1.17 and $1.06<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA139104\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  raech out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD139104\">\n<p>    The content presented may include the personal opinion of the author and is subject to market condition.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 7 minutes ago With a series of new higher highs and higher lows, the MATIC price has continued to have a bullish rally since January 1st. During this recovery, the coin price gained 68% and currently trades at $1.267. Furthermore, under the influence of a rounding bottom pattern, the coin price is expected to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":94944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-95372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/95372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=95372"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/95372\/revisions"}],"predecessor-version":[{"id":95373,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/95372\/revisions\/95373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/94944"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=95372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=95372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=95372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}