- The MATIC Price Appears to Be On The Road To Recovery With a 2% rise Over The past 24 hours
- Polygon looks to recover some lost ground since the September flash crash
- A decline of over 30% over the past week makes MATIC one of the cryptos which lost out most from the crash
After having suffered a considerable crash of over 30% over the past week, the MATIC price seems to be on the road to recovery. Polygon is currently trading at the $1.27 mark and there is more room for upside as buyers pick up the DeFi coin on the cheap.
MATIC had reached the $1.4 mark on 4 September only to descend to the $1.24 level on 13 September. That is a considerable 30% crash over a relatively short period of time and was caused by all the FUD surrounding the El Salvador Bitcoin mess.
The spectre of regulation still hangs around the crypto market as a whole but MATIC remains one of the star DeFi projects out there and should continue its recovery. It is actually at an extremely cheap rice at the moment so investors will probably plough in to make some good short-term profits as Polygon rises.
If you haven’t yet bought some MATIC, then you should take a look at this How To Buy Cryptocurrency Beginner’s Guide.
Short Term Prediction For MATIC Price: A Recovery On The Cards To Resume Climb?
With a drop of close to 33% in just 7 days, the MATIC price has been one of the worst sufferers of the September 7 crash. However, there seem to be some green shoots of recovery on the cards as Polygon held up quite well at the support level of $1.24. Ironically, this is still almost 90% up from the July swing low of $0.68.
If a bullish thesis were to re-enter the market, the MATIC price would be expected to tag the $1.35 level quite soon. If that resistance level is broken, Polygon could be expected to begin attacking the $1.50 level where it should continue ascending.
If a bearish thesis were to enter the market, the MATIC price would be expected to cede the $1.24 level and drop to the psychologically significant $1.20 mark. However, there is extremely strong support there although a sell off would test that price.
If you wish to buy some cryptocurrency then you should take a look at these Top Cryptocurrency Brokers.
Long Term Prediction For Polygon: Still Bullish With ATH’s expected by end of year
Although the MATIC price has experienced a considerable decline over the past week, the long-term expectations are still extremely bullish. Polygon is expected to reach the $2 mark by end of October and its all time high of around $2.50 by end of year.
Although some pitfalls remain, such as the constant ramping up of regulatory talk, analysts are quite confident that Polygon has potential. The MATIC price is currently at a discount so investors will probably be piling in.
Where to Buy MATIC
If you want to purchase MATIC, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy Polygon is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.
Looking to buy or trade MATIC now? Invest at eToro!
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Gerald Fenech
