Polygon Steals the Show With Potential Surge to $1.5

• Polygon (MATIC) is leading the charge among the top 20 cryptocurrencies.
• MATIC has seen a 24-hour increase of 17.4% and a weekly surge of 57.8%.
• At the moment, MATIC is witnessing a correction at $0.90.

Among the top 20 cryptocurrencies today, Polygon (MATIC) is currently the best cryptocurrency in terms of market performance. It has even outshined Bitcoin (BTC) and even Ethereum (ETH) which had a very bullish update recently. 

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At the time of writing, MATIC is changing hands at $0.90, according to CoinGecko. This is a staggering increase of 17.4% and 57.8% in the last 24 hours and 7 days, respectively.

As observed on the chart above, MATIC witnessed a jaw-dropping surge from July 17 to 18. From a price of $0.72, MATIC has climbed up to almost $0.98 before retracing to the current price of $0.90.

However, the quick rally began its build-up in the first week of July. From a recovery back to the $0.42 support zone after having fallen to the trenches of $0.31, MATIC is arguably smooth sailing now. In fact, it was beginning to develop the ascending triangle pattern when the bulls decided they wouldn’t need to wait for the tip to form before they start stacking.

The price surge is also supported by an impressive trading volume, particularly in the last 24 hours, which shows that MATIC has the attention of traders. 

Should MATIC flip the $1 resistance into support, it has a strong possibility to hit $1.2 and $1.5 soon after. However, if the bulls cannot recover after hitting a price correction, then it may take some more time before MATIC reaches the $1 territory again.

Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether expressed or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers perform their own in-depth research before investing in cryptocurrency.

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