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Polygon (MATICUSD) Price Set to Break the $1.549 Supply Value

Johnathon Fox
07/13/2023 | UPDATED ON: 07/13/2023

Polygon (MATICUSD) Price Forecast: July 13
The market price of MATICUSD is facing the upside. The price is set to break the $1.549 supply value as the crypto now faces high buying pressure from the bulls. Thus, a strong push from the current price at the $0.749 supply value above the supply trend levels will put the crypto in a bullish trend and this may further extend to a $2.000 resistance level resulting in intraday gains for the buy traders.

Key Levels
Resistance Levels: $1.100, $1.200.00, $1.300
Support Levels: $0.950, $0.850, $0.750

MATIC (USD) Long-term Trend: Bullish (Daily Chart)
In the long-term outlook, the MATICUSD market still trades in a bullish trend as we can see the prices trading above the moving averages.
Polygon (MATICUSD) Price Set to Break the $1.549 Supply Value
The sustained bullish pressure at the $0.735 supply level during yesterday’s session actually made it capable for the buy investors to retain the upward strength in recent times.

Today, despite the moves by the sell traders the price of Polygon remains in an uptrend at the $0.749 resistance value which is above the two EMAs as the daily chart opens showing the potential support strength of the reclaimed trend line. A possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery.

Currently, the coin price is making a correction, there may be a potential further rise in the coin market price and this may possibly retest the previous high at the $1.549 resistance value soon.

Adding to that, we can as well see the momentum indicator pointing up, this means that the crypto may likely continue its bullish ride; we, therefore, expect the price distribution to hit a $2.000 high mark soon in its long-term perspective.

MATIC (USD) Medium-term Trend: Bullish (4H Chart)
The MATICUSD pair is in a bullish momentum in its medium-term view. The trend is rising and the price has not yet reached its goal.
Polygon (MATICUSD) Price Set to Break the $1.549 Supply Value
The price distribution of the coin at the moment has risen to a $0.745 high level which is above the moving average lines shortly after the 4-hourly chart opens today, this indicates that bulls are dominant in the market at the present and may likely remain in the same trend.

Thus, staying above the resistance trend lines will make it capable for the coin price to rise further.

Similarly, the price indicator which is also pointing upwards suggests that the Polygon price might break up the $1.549 supply value to hit the $2.000 upper resistance mark in the days ahead.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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