Bullish Polygon price predictions have hit the market once more after the token was cleared for listing on Korean exchange Upbit. The news has also brought back interest in MATIC, driving the Polygon price up by more than 25% on Friday.
Traders who want to trade MATIC on Upbit have to deposit cryptos worth a minimum of 10 MATIC. As of the time of writing, it is unclear what MATIC pairs will be available for trading. The news will no doubt be good for MATIC hodlers, who had seen the Polygon price trade in narrow ranges after a hike in gas fees drove down on-chain activity by 50%.
The spike in the MATIC/USDT pair has driven the token above the 1.434 resistance and is pushing it towards the 1.716 resistance level (15 June and 6 September highs). A break above this level opens the door towards 1.881 (3 June high) before the 20 May high at 2.200 becomes an additional upside target.
On the flip side, a price decline from the current level retests the 1.434 price mark (18 September and 8 October highs). If the bulls fail to defend this level, 1.188 and 1.042 can enter the picture to serve as additional targets to the south.
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This post was last modified on Oct 15, 2021, 13:54 BST 13:54