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Matic Netwrok gained immense popularity and recognition with the rebranding to Polygon, earlier this year. Additionally, the Matic price rally also gained mainstream attention and adoption of-let. However, surrounding the immense market uncertainty, Polygon price slumps to its lowest levels. 

The price has tanked more than a couple of time in a months time. Therefore healing is much delayed than expected. No doubt the price initiated with recovery within a short time frame, yet the multiple plunges have impacted the momentum of the uptrend. And hence, the probability of forming higher highs has fallen down to lower highs. 

matic deadcat

As mentioned in the chart, the MATIC price experiences an extreme squeeze as the resistance levels are lower after each slump. The recovery rate has also gone down which clearly indicates the loss of bullish momentum. With the price attempting to uplift again, it would be mandatory to raise a huge leg up. Else, if the price follows the previous pattern, the dead cat bounce may lead the price to revisit the levels below $1. 

AlsoRead: MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals!

Is It Safe To Enter The Matic Price Trade?

The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

However, the recent dip may have opened the doors to initiate a ‘buy’ trade. As the price is expected to jump high soon. As per the analyst, Altcoin Sherpa, there was a nice dip towards the demand zone. Moreover, the analyst believes the price may reach the weakly highs around $1.7.

Interestingly, the analyst also predicts a dip after the price attains the upper resistance levels. And hence, the $2 target still remains still misty. As the bulls remain still calm and maybe waiting for the right time to uplift the Matic price.

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Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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‘Be Patient- Bitcoin Price To Recover’ Says A Popular Analyst

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The global market capitalization for the past couple of days is experiencing an extreme drain. Most of teh crypto assets are registering a consecutive 5 red daily candles in a row. The huge selling pressure accumulated on the Bitcoin price has compelled it to bottom below $38,000. By trending very close to the support levels around $37,000, the fear of BTC price revisiting levels around $34,000 hovers. 

Despite the bearish sentiments surrounds the assets, yet it is believed that the price will recover very soon. A popular analyst Alan Santana, suggests his followers to patiently wait until the price flips the bears. He also said that some people are already giving up Bitcoin, falling into the trap of ‘Panic Selling’. And also asked his followers not to join them, rather wait until the next pump.

Also Read: Dogecoin Price Feared To Continue With A Bearish Trend, Is $0.2 At Stake?

btcchart

The price seems to be following the path led by the analyst as it bounced significantly on visiting the support zone at $37,978. With a significant bounce, the price could surge close to $40,000 or above. However, yet the chances of forming lower lows still hover the rally. And in such a case, the price could even visit the lower support at $35,700 and rebound. 

However, $35,700 are among the strong support levels and if in case, the Bitcoin price fails to sustain, then a plunge below $34,000 may be imminent. But considering the indicators, the RSI has already bounced back and MACD showcases ease in the selling volume. And hence considering the factors a bounce above $40,000 may be on the way for BTC price.

Also Read: Cardano(ADA) Price Spikes As Bitcoin & Ethereum Yet To Manage The Trembled Situation!

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