MATIC Price Prediction – Price Drops 25%! Buy $MATIC now?

InAltcoin, buy matic, buy polygon, crypto, Featured, Polygon MATIC, TradingView

After a huge surge in prices, MATIC price was bound for an adjustment lower. Naturally, MATIC corrected heavily this week, especially as the entire crypto market was seen taking a breather. However, the price ignored the drawn GoldenPocket and then fell slightly below the GoldenPocket. Currently, the price is still below the GoldenPocket. How can Polygon MATIC continue in the near future? In this MATIC price prediction article, we’re going to take a closer look at Polygon’s chart and assess whether we should buy now or wait for further lower prices.

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MATIC Price is in a Bull flag!

The Polygon price formed a bull flag right after our article. This bull flag is a trend continuation formation, so we expect a bullish breakout here. Before the breakout, however, we still assume that the price will test the lower line once more. After that, the price could rise to the upper trend line and bounce there briefly. After that, we expect a breakout of the bull flag. The bull flag target is around $2.32. There is also horizontal resistance at $2.442, making it highly likely that the polygon will rise above $2.

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MATIC price prediction - MATIC/PERP 4-hours chart showing a Bull Flag — **Fig.1** MATIC/PERP 4-hours chart showing a Bull Flag – TradingView

MATIC Price Prediction – You might want to BUY MATIC

Polygon price has developed a bullish divergence since the last low. This divergence could lead to higher prices, which is why an entry into Polygon could now be worthwhile. MATIC price may no longer test the lower trend line due to the divergence and instead rise directly to the upper trend line. However, since we are unlikely to test the lower trendline now, Polygon price may test it after the price tests the upper resistance line. Thus, the bull flag could continue a bit longer until we see a bullish breakout.