As the crypto space is heading towards a notable flip from the bears, Polygon also appears to prepare for a massive breakout. The asset appears to have to consolidate well and before a notable flip from the bullish divergence. However, many predict the dip to the $1.6 levels may be a healthy pullback before the MATIC price smashing $10.
Considering the present price movement, the asset is undergoing a healthy consolidation and a notable surge at regular intervals. With the recent jump of more than 30% and a slight pullback, the asset formed a bull flag that failed to uplift the price to the next level. On the other hand, the price still sustained above $1.4 manifested that the strong bullish momentum to be intact.
The entire crypto space is consolidating with large margins, and hence a slight pullback could be on the horizon. However, if in case the price drops significantly, yet it could still retest at the nearest support levels above $1. In the worst cases, if it drops below $1, it may be short-lived as it will create a huge buy-zone that could fill instantly.
On the other hand, the price is constantly been rejected around $1.6 multiple times and hence breaking through this level is become mandatory. However, the asset could break the structure on multiple time frames and register a bullish price action. The supply also could break which may lead the MATIC price towards a new ATH very soon.
The next leg up after the consolidation could pump the price to the next resistance at $1.760. And as per a popular analyst, Crypto General, Polygon price could repeat the epic bull run that it did early this year.