Polygon Price Analysis: MATIC still holding support at $1.25

Polygon prices rose this morning to a higher low in support of $1.25 yesterday, with enthusiastic momentum adopted since then. As a result, we expect MATIC/USD to continue growing over the next 24 hours.

The market has been in a mixed mood for the past 24 hours. Bitcoin is up 6.8% while Ethereum is up 1.02%, becoming the market leader. Meanwhile, Shiba Inu (SHIB) continues to lead the group, up more than 70% from its December 17 low.

Polygon price movement over the last 24 hours: Polygon found support at $1.25
The price of MATIC/USD has moved between $1.24 and $1.34 in the last 24 hours, indicating low volatility. Trading volume fell 4.27 percent and is worth $768 billion, placing the coin at number 21 worldwide.

MATIC/USD 4-hour chart: MATIC looks set to break?
On the 4-hour chart, the gains have again intensified the Polygon price action, suggesting higher highs could be reached today.

Polygon prices have gone up this month. After spending late September in a consolidating range that narrows with $1.05 support, another big boost is set. What followed was more bullish momentum on October 1st. The previous high of $1.25 was reached quickly and then broken.

MATIC/USD is now the third largest cryptocurrency in South Korea. A fresh high of $1.35 was reached on October 2, while buyer support was reaffirmed at $1.25 yesterday. Result: We expect MATIC to continue rising today, October 3rd.

On October 2, Polygon’s price jumped to $1.36, a new high in weeks. The next adjustment is to retest the $1.25 support level and reject another shortfall, suggesting that the bulls will continue to grow.

Polygon price analysis: conclusion
The MACD line and the price action are bearish, indicating that the market is in a bear trend. A new higher floor was found above $1.25, indicating that the bulls are fighting again. As a result, we expect the MATIC/USD bulls to move higher in the next 24 hours, potentially creating another one