Investors’ Bullish Sentiments See MATIC Jump To $1.05, While Bearish May Pull It To $0.69

On October 4, Polygon’s (MATIC) trading price experienced a significant push. The digital asset was able to witness a significant push, allowing it to rise over the moving averages on a particular day.

Bears Continue Stalling the Trend

The price chart for MATIC suggests that the bears have been trying hard so they can pull their value lower. However, the bulls are not ready to give up that easily and they may continue buying MATIC to fight the bears.

For now, it is a tug-of-war situation between both sides and each side is eager to win. In the upcoming days, a push and pull may be witnessed in the trading price of MATIC that may test the patience of both sides.

The bears are trying hard to continue stalling the bullish move of MATIC. From the looks of it, the bears seem to be in control of the trend but the bulls are also showing their resolve.

So far, the bulls have not given up, which suggests that they may not fully let the bears control the trend. They may continue applying their strong buying power in an attempt to push MATIC’s price higher.

Bulls to Hit $1.05

The relative strength index for MATIC is currently in the positive zone, which is supporting the bullish sentiments of the buyers. The 20-day EMA is also feeling the impact of the bullish run as the $0.80 figure has started to move up.

The average for MATIC is rising, sending out a strong signal to the bullish investors that it is the right time to jump in. If they pick the signal and start investing, MATIC’s trading price may start experiencing an uptrend.

As the price continues moving upstream, the first resistance level MATIC may hit would be $0.94. Thereafter, the bulls may another opportunity of continuing with the bullish move.

If they keep adding more power to the trend of buying as many MATIC as possible, its value may surge to $1.05.

MATIC’s Decline to $0.69

Even when the bulls are feeling strong enough to push the trend to another higher level, the overall market situation is bearish.

This means that the bears may start selling MATIC at a faster level at any time and the bulls may not be able to save the bullish trend.

As the price starts to fall, the bears may feel encouraged to carry on with the selling spree. This may cause a decline in MATIC’s price, bringing it lower to $0.75.

The bulls would have to defend the particular level with a strong buying force. If they failed to do it, then MATIC’s trading price may dip to $0.69.