Polygon Price Explodes By 60% – Is MATIC Nearing $1 Target?

The global cryptocurrency market increased by about 5 percent during the past 24 hours to reclaim the $1 trillion benchmark. The price of Polygon (MATIC) has increased by over 60 percent in the past seven days, placing it among the top performing cryptocurrencies. MATIC is currently trading at $0.927, a 20 percent increase in the last 24 hours, data by Coingecko show Tuesday. Many investors are pondering the cause of this unexpected price increase. Let’s examine the technicals. MATIC has sustained its steady solid momentum and is trading higher, sending signals of a bullish run. After retesting the $0.30 support level, the altcoin’s price is optimistic. In reality, the price behavior on the daily price scale displays a high-low structure. Suggested Reading | XRP Must Breach This Key Level To Avert The Downturn Polygon Trading Volume Upbeat A rise in trading volume exhibits bullish characteristics in the face of a strong momentum. During a highly turbulent market, a resistance breakout may occur sooner. Based on data from CoinMarketCap, the token’s 24-hour trading volume has increased by more than 70 percent, with a total of $1.6 billion worth of MATIC changing hands. Under the influence of a support trendline, the Polygon (MATIC) has been climbing since the previous month. During this run, the altcoin has recently surpassed $0.745 after breaking through many resistance levels. How far can this token main...