Polygon Price Prediction Amid 19% Rise - Time to Buy? Traders are Also Backing These Coins to Surge
Polygon has pumped 19% in the last seven days and is currently trading at $0.7995, the highest price in over a month.
With that in mind, this begs whether it is time to buy Polygon or if more sell pressure is to follow.
The recent bullish momentum puts Polygon ranked 11 of all coins by market cap at $7.4 billion. In the last 24 hours, trading volume has also spiked by more than 40% to $546M.
Polygon has followed a downward trajectory since February 2023, falling from highs of $1.57 to lows of $0.5095 on 10 June. The collapse in early June pushed the Polygon price below the key $0.75 support level, which it previously bounced off in December before rallying 57%.
As seen on the Polygon price chart above, the price traded in a descending wedge until it broke to the downside in June.
However, the recent pump has caused MATIC to break above the $0.75 support level, potentially confirming a reversal. If this is the case, we could see an explosive move to the upside in the days ahead.
A retest of $0.75 followed by a sharp pump to $1 seems likely since there are no major resistance levels in between. Following this, the next price target is around $1.18, although it will likely consolidate between $0.75 and $1 first.
However, new lows will likely be imminent if the price breaks below $0.75, potentially leading to $0.5 or lower.
A recent video by popular YouTube analyst, More Crypto Online examines MATIC’s recent breakout, predicting the price could climb to $0.9.
Initially, More Crypto Online suspected a move to the downside was imminent due to the lower time frame ascending wedge. However, the recent pump caused a breakout to the upside, leading the analyst’s bias to flip bullish.
Meanwhile, respected TradingView analyst RLinda, recently shared a MATIC trading idea, forecasting highs of $1.19.
The analysis noted the higher time frame descending wedge breakout and points to the $1.19 level as the next liquidity resistance zone the price will likely reach.
These Other Coins Are Also Being Backed to Pump
While analysts are forecasting up to 50% gains for Polygon, several new tokens are also being backed to see big gains in the near future, including Wall Street Memes and yPredict.
Wall Street Memes Raises Over $14M in Presale - Next Big Meme Coin to 10x?
Wall Street Memes is a new presale meme coin based on Wall Street Bets, a social media brand with a one-million-strong community. The brand was established in 2021 and the $WSM has even been retweeted by Elon Musk.
So far, the presale has been a raging success, raising over $14.4 million in just six weeks.
According to its website, the project was created to “tokenize the movement” of empowering the everyday investor to get rich off “useless meme coins”. Essentially, Wall Street Memes is a movement which aims to fight the malpractices of traditional finance through humor and community.
It is fair to say that the meme coin community loves the project and its ethos. A prominent YouTuber with 300K subscribers, Michael Wrubel, recently made a video highlighting the project’s potential.
The Youtuber highlighted the Wall Street Memes social media accounts as a key advantage for the project, explaining the significant levels of engagement it receives.
In celebration of its presale, Wall Street Memes is running an airdrop worth $50K that will be split between five lucky participants.
Each community member gets up to seven entrees by completing simple tasks like following Wall Street Memes on Twitter. Check out the Wall Street Memes website to learn more.
Visit Wall Street Memes Presale
New AI Coin yPredict Could Also Explode After Raising Almost $3M
yPredict is another popular presale crypto which traders are backing at the moment. So far, it has raised $2.9 million and is shortly headed into its next presale round.
Once the next round begins, investors can purchase the token for $0.1, but this is set to rise to $0.12 once the coin goes live on exchanges.
The yPredict crypto is an all-encompassing AI ecosystem that covers finance, health and human resources.
There are five main tools in the yPredict ecosystem: yPredict Analytics, yPredict Predictions, yPredict Marketplace, yPredict Editor and yPredict Estimator.
Each product leverages AI to provide data-backed predictions and analytics, bolstering the user’s decision-making abilities.
One of the project’s main goals is to equip retail traders with institutional-grade trading tools. By leveraging AI, users can get affordable access to cutting-edge software such as AI technical analysis and AI trading signals.
Since its presale launch, the yPredict project has caused massive excitement in the crypto community. CRYPTOPRNR recently highlighted it as one of the top AI coins to buy this year.
Investors who want the best price must be quick as the presale is quickly selling out.
