Polygon (MATICUSD) Price Will Surge Higher to Retest the $1.549 High Mark

Polygon (MATICUSD) Price Forecast: May 29
The MATICUSD price will surge higher to retest the $1.549 high mark. The coin having rebounded will most likely continue its bullish correction and the price could go higher and hit the mentioned resistance value. If the bulls are able to break up the $1.549 supply mark, then we can expect a good upside momentum up to the $2.000 upper high value.

Key Levels
Resistance Levels: $1.400, $1.500, $1.600
Support Levels: $0.950, $0.850, $0.750

MATIC (USD) Long-term Trend: Bullish (Daily Chart)
Polygon( MATICUSD) is in an upward trend with a bullish sentiment in its long-term perspective. The coin price can be seen above the EMA-9 on the daily chart. This is due to the high inflows from the buy traders.

The bulls were able to push the cryptocurrency up to the $0.910 resistance value during yesterday’s session and have enhanced the price to stay in green ready for an upward performance in its recent high.

Today’s coin price on the daily chart is currently facing resistance and trading at the $0.924 correction level above the EMA-9. Further, the rising prices reclaimed more confirmation for a bullish recovery. A strong breakup above the $1.466 resistance point would strengthen the bullish pressure.

In addition, the daily stochastic indicates an upward trend, this means that the buy investors may likely continue with the bullish correction pattern to retest the $1.549 high value which might further extend the MATICUSD price to reach the $2.000 resistance mark in the coming days in its long-term outlook.

MATIC (USD) Medium-term Trend: Bullish (4H Chart)
The currency pair’s orientation trades in a bullish market in its medium-term outlook. The price bar is seen above the moving averages.

The intervention from the buy traders at $0.921 in the previous action has kept the coin price above the supply trend line.

The drop in the price of Polygon to the $0.916 low value above the two EMAs as the 4-hourly chart commenced today has no serious effect on the market as the price remains in an uptrend.

Hence, staying above the supply levels indicates a strong possibility for a bullish correction. A strong breakup by the bulls above the $1.059 resistance point would strengthen the bullish pressure.

The Stochastic is also showing the market now approaches the oversold region. This means that the selling pressure will end soon. This will compel the bulls to resume the bullish trend to retest the $1.059 supply level; the $2.000 resistance level might be reached in the days to come in its medium-term outlook.

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