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What is MATIC Doing Right Now?
MATIC is currently trading slightly above the $2.00 mark and is looking quite bullish in the immediate short term. It recently managed to break the resistance around $1.94 and showed a nice pump towards the upside after retesting it. MATIC is one of the most popular cryptocurrencies out there and we have seen some serious rallies for it in the past. As of now, MATIC is again looking quote bullish, and we can expect to challenge its all-time high soon.
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Analyzing the Charts
If we take a look at the 4-hour charts for MATIC we can see that the next level it needs to get above is at the $2.20 mark. The $2.20 level has acted as resistance in the past as well and MATIC needs to break this level to retest its previous all-time highs.
As of now, MATIC is looking extremely bullish and is also trading above all the moving averages on the 4-hour timeframe.
Also, if we switch to the 1-Day timeframe, we can see that the price is way above all these moving averages on this timeframe as well.
Once MATIC breaks above the resistance at $2.20, the next target we will be eyeing for it is around the previous all-time high of $2.70.
Conclusion: Is MATIC Looking Bullish?
Matic is looking quite bullish on the majority of the timeframes and is trading above all the significant moving averages. We have seen some crazy rallies for MATIC in the past and another one could be just around the corner. MATIC is the native token of Polygon, a layered two solution that has great efficiency and is high in demand. A new all-time high by the end of the year is also likely for MATIC.
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