MATIC Price Analysis: Price Readies for Polygon’s ‘Most Important Reveal’ of 2022

• The Polygon (MATIC) price is trading up 3% at the time of publication.
• At the time of publication, MATIC was changing hands at $0.923.
• In less than 24 hours from now, Polygon will be unveiling what it deems the most ‘important reveal’ of 2022

Polygon’s (MATIC) price is trading up 2% at the time of publication as it consolidates in earnest for Polygon’s ‘’big reveal’’. At the time of publication, MATIC was changing hands at $0.939, up 71% over the last 7 days. In less than 24 hours from now, Polygon will be unveiling what it deems the ‘most important reveal’ of 2022. Mihailo Bjelic, Polygon Co-founder, tweeted on July 17: “When we started Polygon, the Ethereum community embraced us. That empowered us to onboard 30,000 apps and 150 million users and become a giant among scaling efforts and alt L1s. We made a promise to stay committed and give back to Ethereum” He says, “For one whole year, Polygon’s tech team has been quietly working on the Holy Grail of blockchain infrastructure. Very few people are aware of how strong and committed this team is and how groundbreaking their work is. In 2 days, we will show what we have accomplished”.

Key Levels
Resistance Levels: $1.300, $1.200, $1.00
Support Levels: $0.850, $0.750, $0.685

MATIC/USD Daily Chart: Ranging

MATIC/USD Daily Chart

MATIC keeps rising, hitting intraday highs of $0.942 recording nearly 2% in 24 hours. The relative strength index (RSI) exhibits increasing bullish momentum as it approaches 80 points, indicating a potential for additional price increases in the ensuing sessions.

If the rally persists, MATIC’s price may eventually reach its psychological level of $1.00 and ultimately the $3 range. In the meanwhile, a slide in the MATIC/USD pair can turn to the technical levels that have come before them for support. In particular, pay attention to the levels around $0.850, and the $0.75 followed by MA 50.

MATIC/USD 4-Hour Chart: Bullish

MATIC/USD 4-Hour Chart

MATIC surpassed $0.85 to reach monthly highs of $0.945. Even though the price is going back up, the positive outlook appears to be strengthened. As momentum traders enter, the $1.00 level might be the next stop. The 4-hour RSI is flirting with the overbought territory, which can cool the enthusiasm of buyers for increasing their stakes.

After hitting its most recent highs, MATIC might try to maintain its gains. If there is a retracement, $0.85 serves as new support. The second line of defense would be $0.75, which is close to the top band of the prior consolidation range. Overall, it is anticipated that MATIC/USD would strive for further rises in the ensuing sessions.

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