MATIC Price Continues Its Move up and Breaks Above the 9 EMA

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• Polygon recently announced its collaboration with Robinhood (NASDAQ:HOOD).
• MATIC community predicts MATIC’s price will reach $0.885.
• The price of MATIC is currently trading at $0.7758 according to CoinMarketCap.

It seems as if there are interesting times that lay ahead for Polygon (MATIC), particularly in light of the most recent events. One such event is the recently confirmed partnership between the Ethereum (ETH) Layer 2 token and the Robinhood trading platform.

MATIC’s price action was impacted by the recent announcement that Polygon will enter into a collaboration with the exchange platform, Robinhood. This announcement serves as an indication of the rapid development that is happening behind the scenes.

With the volatility in the crypto markets over the past couple of months, investors are curious about the short-term future price of the token.

Community predictions made on CoinMarketCap’s “Price Estimates” tool on September 29 this year shows that investors believe that the price of MATIC will reach around $0.885. Should this estimation play out, it will result in an increase of 14.06%, which is approximately +$0.11.

CoinMarketCap shows that MATIC’s price is currently trading at $0.7751 after a 4.64% surge in price over the last 24 hours, at the time of writing. This has also flipped the weekly performance of the token from negative to positive, as the price of MATIC is now up 2.73% over the last week.

Daily chart for MATIC/USDT (Source: CoinMarketCap)

On the daily chart for MATIC/USDT, the price of MATIC has been climbing for the last 3 days. As a result, its price has risen above the 9 EMA line and is making a move towards the 20 EMA line.

The RSI indicator has recently flagged bullish after crossing above the RSI SMA line and is still sloped toward overbought territory.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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