Polygon

Swing

MATIC was one of the altcoins affected by the recent market downturn triggered by the controversial <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-flash-crash-crypto-market-witnesses-2-5-billion-inflow-following-recent-downturn/" target="_blank" rel="noopener ">Matrixport report</a> on the Bitcoin spot ETF this week. This negative sentiment pushed the cryptocurrency’s price from trading at nearly $1 to below $0.85 in a single move. 
However, the tide seems to be turning in favor of the bulls, as the MATIC coin has jumped more than 1.2% in the past day. In fact, a popular crypto analyst on the X (formerly Twitter) platform has sounded a buy alarm for Polygon’s native token. 
<h2 id="strong-can-matic-s-price-return-to-0-96-strong">Can MATIC’s Price Return To $0.96?</h2> 
In a recent post on X, crypto analyst <a href="https://www.newsbtc.com/optimism-2/optimism-price-to-resume-bullish-trajectory-to-3-heres-how/" target="_blank" rel="noopener ">Ali Martinez</a> has put forward a bullish projection for the price of MATIC over the coming days. According to the crypto pundit, the cryptocurrency looks set to recover all its lost gains in a potential upward price movement. 
The reasoning behind this <a href="https://www.newsbtc.com/matic/crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen/" target="_blank" rel="noopener ">bullish prediction for the Polygon token</a> revolves around the TD (Tom DeMark) Sequential indicator. For context, the Tom DeMark Sequential indicator is used to identify the exact time of trend exhaustion and price reversal. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Polygon</a> | The TD Sequential presents a buy signal on <a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$MATIC</a> 4-hour chart. 
 A spike in buying pressure around the current levels could see <a href="https://twitter.com/hashtag/MATIC?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#MATIC</a> rebound, potentially toward $0.88, and even as high as $0.96. <a href="https://t.co/lj96zgPh7k" rel="nofollow">pic.twitter.com/lj96zgPh7k</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1743599512722059771?ref_src=twsrc%5Etfw" rel="nofollow">January 6, 2024</a>
</blockquote> 
Martinez noted in his analysis that the TD indicator is currently flashing a buy sign on MATIC’s 4-hour price chart. However, the crypto analyst highlighted that a bullish future for MATIC hinges on a spike in buying pressure around the current price levels. 
This could potentially see the Polygon token climb toward $0.88 and as high as $0.96, Martinez said. Ultimately, this bullish prediction depicts an almost 16% surge from the current price point.&nbsp; 
It is worth noting that the Relative Strength Index (RSI) on the 4-hour timeframe, which tracks the bullish and bearish momentum of a token, is currently at 38.2. When the RSI is below 50, it may suggest that the token is witnessing some bearish momentum. 
<h2 id="strong-matic-price-overview-strong">MATIC Price Overview</h2> 
As of this writing, the price of MATIC stands at $0.828969, reflecting a mere 1.2% increase in the past 24 hours. Polygon’s sluggish performance in the past day emphasizes the altcoin’s struggles over the last seven days. 
According to data from CoinGecko, the <a href="https://www.newsbtc.com/news/polygon-saga-airdrop-a-game-changer-for-matic-investors/" target="_blank" rel="noopener ">MATIC price</a> has declined by more than 14% in the past week. And this recent market downturn saw the cryptocurrency lose virtually all of the profits it accrued in December. 
Nevertheless, MATIC ranks as the 14th-largest cryptocurrency in the sector, with a market capitalization of about $7.8 billion. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/OWMzNlqg/" alt="MATIC" width="2174" height="1434">

Crypto Analyst Forecasts MATIC Price Recovery With This 16% Swing

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