Long

Bull Flag

BULL

Polygon

<p>Amidst recent concerns over the price movement of<a href="https://www.cryptopolitan.com/polygon-price-prediction/"> MATIC,</a> the native token of Polygon, digital asset analyst Crypto Patel has made a bold prediction, suggesting a potential surge to $15 in the coming weeks.&nbsp;</p> 
<p>Despite a 6.68% decline in the last seven days, MATIC has captured attention for its impressive performance earlier in the year, with a notable rise of 76.38% between January and March. As investors monitor the cryptocurrency’s trajectory, Patel’s forecast brings renewed optimism to the market.</p> 
<h2 class="wp-block-heading" id="matic-bull-run-roadmap">MATIC bull run roadmap</h2> 
<p>Analyst Crypto Patel’s Bull Run Roadmap, the focus lies on the formation of a bullish pennant pattern on a higher time frame (HTF), particularly observed on the weekly chart. This pattern, known for its significance in technical analysis, typically emerges following a period of upward price movement, succeeded by consolidation.&nbsp;</p> 
<p>The bullish pennant is characterized by converging trendlines, a visual representation of market consolidation before a potential breakout.</p> 
<p>Drawing insights from historical trends, Patel<a href="https://twitter.com/CryptoPatel/status/1771560468877836392" rel="nofollow noopener" target="_blank"> highlights</a> the remarkable performance during the 2021 bull run, where it experienced a staggering 100x increase in value following a breakout from a similar bullish flag pattern. This historical precedent serves as a foundation for Patel’s optimistic outlook on potential price appreciation.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$MATIC</a> BULL RUN ROADMAP 🚀<br><br>1⃣ <a href="https://twitter.com/hashtag/MATIC?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#MATIC</a> Forming Bullish Pennant In HTF<br>2⃣ 2021 Bull Run: Did 100x in Last bull Market After Bull Flag Breakout<br>3⃣ If MATIC/USDT Break $1.20 Level in HTF then Ready for $10-$15 Target<br>4⃣ I am Bullish in <a href="https://twitter.com/hashtag/POLYGON?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#POLYGON</a> for Long Run<br>5⃣ If Market Crash then… <a href="https://t.co/FJEvGiHd4U" rel="nofollow" target="_blank">pic.twitter.com/FJEvGiHd4U</a></p>— Crypto Patel (@CryptoPatel) <a href="https://twitter.com/CryptoPatel/status/1771560468877836392?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">March 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>In the context of the current market scenario, Patel outlines specific price thresholds to watch. He suggests that if it manages to surpass the $1.20 level on the HTF, it could catalyze a surge towards the $10-$15 range. This projection underscores the potential for significant gains in the near term.</p> 
<h2 class="wp-block-heading" id="matic-short-term-target-analysis">MATIC short-term target analysis</h2> 
<p>Expressing a bullish sentiment on Polygon (formerly MATIC) for the long run, Patel indicates confidence in the project’s fundamentals and growth prospects. However, he remains cognizant of the inherent volatility of the cryptocurrency market.</p> 
<p>In the event of a market crash, Patel identifies the $0.60-$0.70 price zone as a favorable accumulation area for investors. This strategic insight underscores Patel’s proactive approach to risk management and capitalizing on market downturns.</p> 
<p>While considering long-term prospects, Patel also emphasizes a short-term target for MATIC. He asserts that the token’s ascent to the $1.20 price level on the HTF could catalyze a surge towards the $10-$15 range.&nbsp;</p> 
<p>This projection suggests a potential gain of up to 1500% from the current price. However, Patel remains vigilant, acknowledging the possibility of an unexpected market crash, which could impact MATIC’s trajectory. In such a scenario, he anticipates the token to find support around the $0.60-$0.70 price zone.</p> 
<h2 class="wp-block-heading" id="matic-s-current-performance-and-future-outlook">MATIC’s current performance and future outlook</h2> 
<p>At the time of writing, MATIC is trading around $0.9817, marking a 1.30% gain in the last 24 hours. Despite this modest increase, the token’s daily trading volume has declined by 31.82%, standing at $291.65 million.&nbsp;</p> 
<p>With a market capitalization of $9.7 billion, MATIC holds the 16th position among the largest cryptocurrencies globally. Its performance shortly will likely be influenced by the realization or deviation from Patel’s forecast.</p> 
<p>Crypto Patel’s bullish prediction on MATIC’s price movement has sparked intrigue within the cryptocurrency community, offering a glimmer of hope amidst recent declines. With the formation of a bullish pennant pattern and the potential for significant short-term gains, investors are closely monitoring MATIC’s performance.&nbsp;</p> 
<p>However, uncertainties loom, particularly concerning the possibility of market volatility. As the cryptocurrency market continues to evolve, only time will reveal the accuracy of Patel’s forecast and the ultimate trajectory of MATIC.</p>

Bullish Pennant Formation Signals MATIC’s Potential to Reach $15, Says Analyst

Table of Contents

Cryptopolitan_News

Other articles published on Mar 24, 2024

Investors Eye Borroe Finance As XRP and Polygon Show Signs of Cooling Off

Ripple: Checking XRP’s reaction to XRPL’s new multi-year low

Scouting for the Next Solana in the Realm of Low Cap Cryptos

Dogecoin and SHIB communities flock to the Fezoo presale

Dogecoin Price Suddenly Jumps 8%: April DOGE Rally Imminent?

Market Sees Comeback, But Will Momentum Last? $GFOX Surpasses $5 Million in Presale

Join our free newsletter for daily crypto updates!