Is Polygon Ready for a Bull Run?
![BITmarkets | Is Polygon Ready for a Bull Run?](https://wcms-cdn.bitmarkets.com/3966/!!!POLYGON.jpg)
Polygon (MATIC), like many other cryptocurrencies, has experienced a correction phase. The mature cryptocurrency has cemented itself among the top 20 cryptocurrencies by market capitalization, and its recent correction is a normal and inevitable market component, presenting favorable buying opportunities.
Our analysis will attempt to uncover if the current market conditions offer a good entry point for buying positions.
Daily time frame analysis
MATICUSD - 1 Day Time Frame
After external liquidity has been withdrawn, non-commercial market participants, who trade in high volumes, can enter the market and typically find profitability. In mid-April, a significant spike in external liquidity, specifically Sell-Side Liquidity (SSL), occurred.
Following this, the price entered a consolidation phase, and we now observe another liquidity spike. This time, it is internal liquidity coupled with an Order Block (OB) corresponding to the Fair Value Gap (FVG).
If the price does not close below the FVG on the daily timeframe with the candle body, it indicates a favorable entry point for a buy position. Traders preferring more conservative entries might wait for a structural change on the lower timeframe along with the Inversion Fair Value Gap (IFVG).
However, if the price closes below the FVG, the buy positions will be invalidated, and a deeper correction can be expected.
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