Polygon (MATIC) has proven to be a promising cryptocurrency asset when it comes to demonstrating a high growth from year-to-date (YTD). MATIC is among the top cryptocurrencies that have demonstrated significant growth from the beginning of 2021.
The data from CoinMarketCap shows that from the beginning of the year until now, the weighted growth rate it has observed is over 11,490%. It is a great demonstration of potential and profitability from MATIC’s end since the beginning of 2021.
The data surrounding MATIC shows that in the past 30-days, its price has grown by 22.62%. However, it has observed a 0.10% and $2.14% plummet in its price in the past 7-days and past 24-hours respectively.
This also proves that MATIC hasn’t been impacted much by the current overall crypto downfall. Therefore, the prediction for MATIC is currently in the upward direction, proving that the bulls may have the situation in their favor.
The data from TradingView shows that the price average for MATIC has been growing constantly. The analysis for MATIC shows that in the past 100-days, the price average for MATIC has surged by 32%. This means that despite the downfalls in the overall crypto market, its average price has been rising.
Even the trend line for MATIC is going in the upward direction for the coming days. As of now, the past 24-hour trading volume for MATIC is at $1,503,405,823, demonstrating a 43.30% dive.
This also strengthens the sentiments for the bulls as the bulls are holding onto MATIC and are not planning to sell it. In contrast to selling, the bulls are purchasing MATIC on a large scale. As of now, MATIC’s price is $2.04. However, the highest price it had hit was back on May 18, 2021, when it hit a price of $2.68.
Although MATIC may not be able to hit an all-time high by the end of 2021, the bulls are attempting to bring it close to the particular figure. Despite the current trend for MATIC, the bears are also trying to make their presence known.
This is the reason why the bears are carrying out mass sales whenever MATIC experiences a significant surge in its price. On December 8, 2021, MATIC managed to hit $2.57 midday, but it ended the day at $2.42.
From that point until now, the price of MATIC has dropped by around 18%. Still, the bulls are trying to bring it above the $2.20 figure, and they may achieve it soon. The data shows that the bulls may try to bring the price of MATIC around $2.55.
On the other hand, the bears may push back at $2.50 per MATIC, and increase their selling activities to bring MATIC down to 20-SMA, which is $1.96 per MATIC.
