Will MATIC Price Hit $1 This Week?

The Polygon (MATIC) price since the May 2022 crash faced constant rejection that compelled the price to remain within the bearish captivity. However, ever since the price rebounded from the June lows, it maintained a firm uptrend. No doubt, bears jumped in frequently, but the bulls were poised to uplift the price beyond the important resistance at $0.733. Presently, the price appears to be self-assured to rise back above $1 very soon.

Previously, MATIC’s price was expected to trade between $0.647 and $0.5 until the end of July 2022. But the recent spike, the targets also remain elevated. 

With a significant increase in the trading volume that surged beyond $1 billion with a jump of 54.66%, the upswing is expected to prevail for a long. However, minor corrections and pullback may make their way out which could be overcome very easily. 

polygon

As mentioned in the chart, the MATIC price hovered along 0.38 FIB levels for a longer time, and hence these levels were much more important to break. The asset successfully ranged high to test and clear 0.618 FIB levels and even if these levels are re-visited amid a correction, a fair rebound beyond 0.786 FIB levels may be expected in an upcoming couple of days.  However, the target for the month end may be around $1.2 which may be achieved if the bulls maintain their dominance. 

3 Days to Go!!!

It is quite evident that Polygon has been working tirelessly to build a safe and secure loaded platform. The platform is currently the home for many applications with a huge user base. Hence, the platform is expected to stay committed and give back to Ethereum. Therefore, as per the co-founder of Polygon, this may happen in the next 3 days. 

When we started @0xPolygon, the Ethereum community embraced us. That empowered us to onboard 30k apps and 150M users and become a giant among scaling efforts and alt L1s.

We made a promise to stay committed and give back to Ethereum.

In 3 days, we are delivering on that. 🦄💫 pic.twitter.com/hRBN8DOVF7

— Mihailo Bjelic (@MihailoBjelic) July 17, 2022

This is expected to be the biggest milestone for the Polygon platform as a whole that may uplift the MATIC price too. Or it also may be an attempt to raise the price to attract huge liquidity to the platform. For that reason, Polygon may encounter one of the important weeks as the expected announcement may turn the tables for the MATIC price.

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