MATIC analysis – 40% profit in just 3 days. Where is the next target?

MATIC recorded up to 40 percent growth only for 3 days and the trend does not seem to be slowing down. Thanks to the expansion of its ecosystem, the price continues to growing trend. So let’s look at possible scenarios and where he could potentially be another bull target Polygon prices. The price is starting to overheat.

Polygon has seen a sharp increase in bull volumes, which supports the strength of the current trend. RSI however, it indicates entry into phase overbought. The growing trend is likely to continue, but in the overbought phase we must also assume that growth will be accompanied by a short-term correction.

MATIC / USD 4H. Source: TradingView

MATIC will continue the trend

Bull target that we are watching is roughly on the surface $ 2.40. There is resistance from previous rising flag highs. In the long run, this flag has been in operation since July 20, when the last bear phase ended. If, over time, the price managed to overcome the resistance of this flag, then probably attacked the new ATH.

Yes high volumes we last recorded at the minimum on October 15, when the reverse pattern was confirmed. Now, however, the trend is over and yet volumes have increased in this way. So it’s mainly about fundamental report on the expansion of the Polygon ecosystem which drove this price increase.