The entire crypto space is witnessing less volatility with lessened price variation since the past couple of days. The most dominant crypto Bitcoin price surged high and crossed $40,000 and also sustained for some time. And hence, the other cryptos like Polygon or MATIC price that were experiencing a downtrend, initiated a recovery quickly.
MATIC price is known for a perfect rebound in order to gain the lost levels within a stipulated time frame. Moreover, the price jumps by more than 14%, bouncing above the strong trend line and climbed high above $1.5. The rebound, however, is on the verge to move to the sell zone, and according to an analyst, the MATIC price may incur profits from 6% to 40%.
As the chart shows, the analyst marks three buy zones at $1.35, $1.57 and $1.642, where-in the price has surpassed all the buy zones. And very soon the price could hit the sell zones at $1.74, $2.01 and $2.31. Therefore, considering the entry at the first buy levels and selling at the upper selling zone, the profit incurred may be more than 40%.
MATIC Price Poised To Hit $5
With the price jump above the higher sell zone, crossing the ATH T $2.68 will be imminent. Moreover, the rally is may continue further after forming a new ATH and eventually reach halfway to the set target for 2021 at $10. One of the popular analyst Lark Davis, the Matic price may hit $5 soon.
Above all, the Polygon network surpasses the Binance Chain in terms of daily transactions and hence this may impact the MATIC price to a large extent. Previously, when Binance Chain and pancake swap surpassed Uniswap, BNB price and CAKE price spiked like never before. Hence if the history repeats, MATIC price may also reach the set target very soon.