Ethereum

Bitcoin

Polygon

<a href="https://www.newsbtc.com/matic/crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen/" rel="nofollow noopener" target="_blank">Polygon (MATIC) has been on the lower performance end</a> when compared to other cryptocurrencies in the space. However, this muted performance could be a precursor to a bullish momentum outside of the general market recovery, something that has become a norm for the MATIC price. Crypto analyst Ali Martinez has identified <a href="https://www.newsbtc.com/matic/polygon-whales-120-million-matic-buying-rally/" rel="nofollow noopener" target="_blank">Polygon’s potential in this aspect</a>, expecting the price to rise as high as $1.82 once a major level is breached. 
<h2 class="p2" id="polygon-gearing-up-for-bullish-breakout">Polygon Gearing Up For Bullish Breakout</h2> 
Crypto analyst Ali Martinez points out that the Polygon price is looking toward breaking a significant resistance. Mainly, such a breakout would be the catalyst for the expected price surge which could trigger a 100% price increase. 
As the analyst explains, the trigger for this would be a daily or weekly candlestick close above the $0.96 level. To put the importance of this price level in perspective, the last time that the price was this high was back in May, which means that <a href="https://www.newsbtc.com/analysis/matic-analysis/matic-price-prediction-polygon-down-0-728/" rel="nofollow noopener" target="_blank">MATIC effectively has to clear a 7-month high</a> to kickstart such a rally. 
According to Martinez, breaking this level is important for MATIC as it could trigger a surge. After the $0.96 breach, there are two targets outlined by the analyst as possible endpoints. The first is the $1.25 level, while the peak is placed at $1.82. 
<blockquote class="twitter-tweet"> 
 Keep your eyes on <a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Polygon</a>! A daily or weekly candlestick close above $0.96 could be the spark for a bullish <a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$MATIC</a> breakout. 
 If this key level is breached, we might witness <a href="https://twitter.com/hashtag/MATIC?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#MATIC</a> surging toward $1.82! <a href="https://t.co/M9bz3myRVi" rel="nofollow" target="_blank">pic.twitter.com/M9bz3myRVi</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1733523589255573519?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 9, 2023</a>
</blockquote> 
<h2 class="p2" id="matic-may-not-see-a-sell-off">MATIC May Not See A Sell-Off</h2> 
Although the MATIC price fell in the early hours of Monday, it has done so in tandem with the market that followed the Bitcoin crash. However, on its own, the Polygon native token is still showing a lot of bullish strength especially given the fact that its profitability remains lower compared to other altcoins. 
According to data from IntoTheBlock, the total <a href="https://www.newsbtc.com/analysis/matic-analysis/polygon-matic-price-reach-2/" rel="nofollow noopener" target="_blank">MATIC profitability</a> of all its holders is still sitting at a meager 30%. This is a long way from its February performance where almost 70% of the total holder base was sitting in the green. 
This means that there are not a lot of MATIC investors who are looking to sell their tokens right now. As a result of this, there isn’t as much selling pressure on <a href="https://www.newsbtc.com/analysis/matic-analysis/matic-pols-mint-gold-rush/" rel="nofollow noopener" target="_blank">the altcoin</a> compared to an asset like Ethereum which has been seeing mounting sell pressure. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/pqZbcP7s/" alt="Polygon MATIC price chart from Tradingview.com" width="3266" height="1530">

Crypto Analyst Says Polygon (MATIC) Is Headed To $1.82 If This Happens

목차

Bitcoinist

2023년 12월 12일에 게재된 다른 기사

BitMart Lists Zero-Knowledge DeFi Pioneer Panther Protocol’s $ZKP

AVAX emerges from undervalued obscurity in crypto markets 79% weekly gain

Circle Touts Latin America to Drive Stablecoin Adoption

Jack Dorsey Doesn’t Like Ordinals Being on the Bitcoin Blockchain

Ponzi and Pyramid Schemes 101: What’s The Difference and Why You Should Care

Crypto Data Aggregator, Prices.org Provides Top notch User Experience and In-depth Cryptocurrency...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!