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- The only option to stop the current upsurge seems to be to reach a particular level.
- It tested and destroyed critical resistance levels around $1.7.
The Bitcoin ETF and Ethereum ALTAR upgrades helped to reverse the negative divergence in the cryptocurrency market. Large crypto assets, particularly prominent altcoins like Polygon, saw significant gains. The price of MATIC sliced through crucial thresholds and soared beyond the $2 mark.
Polygon is well-known for its strong foundations and wide range of collaborations with other companies. Despite its underlying strength, it was unable to have an impact on the price since it maintained a calm trend for a long period. The only option to stop the current upsurge seems to be to reach a particular level. Surprisingly, these amounts are substantially greater than the base value of $3.
The weekly chart of the asset reveals that the price has been moving in a ‘W-shaped’ pattern for many weeks. Moreover, the current weekly candle was the first to break the asymmetrical triangle and the neckline of the ‘W-shaped’ pattern. It tested and destroyed critical resistance levels around $1.7, and it rocketed beyond $2.
Immediately after reaching new monthly highs, the MATIC price began to move toward levels around the 0.7 FIB. After that, the values are around 1 FIB at $2.1 and 1.272 FIB at $3.433, respectively. As a result, the likelihood of Polygon reaching these highs is greater. Consequently, altseason 2021 has the potential to be the most successful ever, with numerous small-cap altcoins seeing extraordinary increases.
According to CoinMarketCap, the Polygon price today is $2.02 USD with a 24-hour trading volume of $3,042,256,395 USD.