Ethereum

when

Polygon

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/polygon-matic-price-analysis-and-predictions/" data-wpel-link="internal">Polygon (MATIC) Price Analysis and Predictions</a> 
Polygon (<a href="https://en.coin-turk.com/polygon-network-witnessed-an-insane-surge-in-user-activity-and-transaction-fees/" data-wpel-link="internal">MATIC</a>) has hosted numerous projects over time and has been a preferred choice due to its transaction speed and cost-effectiveness. Recently, as the price rose above one dollar but then retracted, investors’ comments have started to follow one after another. So, what could be in store for MATIC? 
<h2 style="text-align: justify" id="analyst-ali-martinez-s-take-on-polygon-matic">Analyst Ali Martinez’s Take on Polygon (MATIC)</h2> 
According to well-known cryptocurrency analyst Ali Martinez, the native token of the Polygon network, positioned as an <a href="https://coin-turk.com/ethereumda-rekor-15-milyar-seviyesi-goruldu" data-wpel-link="internal">Ethereum</a> Layer-2 scaling solution, is consolidating within a symmetrical triangle formation that spans multiple years. 
Looking at the formation mentioned in Martinez’s statement, it appears that the price is potentially approaching a breakout and, considering the consolidation, it could result in a 90% upward movement for MATIC. 
Ali also mentioned in his post that Polygon has a promising perspective when viewed from a long-term standpoint. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-318392" src="https://coin-turk.com/wp-content/uploads/2024/02/polygon-coin-turk-com.jpg" alt="" width="484" height="526"> 
To briefly discuss the symmetrical triangle formation, it is defined as a chart pattern formed by the price reaching bottom and top levels, bounded by two converging trend lines. This formation typically represents a period of indecision and uncertainty in the market, with buyers and sellers evenly matched. 
According to Martinez, if MATIC’s price closes above $0.96, the process could continue with a bull rally targeting a potential price of $1.73. A breakout in this formation could result in an 89.56% increase, considering the current level, leading to a rise to $1.73. 
<h2 style="text-align: justify" id="what-is-the-current-price-of-polygon-matic">What is the Current Price of Polygon (MATIC)?</h2> 
As of the time of writing, influenced by a slight recovery in the market, MATIC has risen by 5.21% in the last 24 hours to a price level of $0.97. 
The market capitalization has increased by over 5% during this period, surpassing the $9 billion mark. On the other hand, the trading volume has seen a decrease of 17%, sitting just above $600 million. MATIC also stood out with a 7% increase in value in the weekly review. 
Looking at the monthly review, the price of MATIC has increased by over 30%, which shows that the market downturn following the approval of an ETF about 40 days ago did not significantly impact MATIC, as reflected in its price. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/polygon-matic-price-analysis-and-predictions/" data-wpel-link="internal">Polygon (MATIC) Price Analysis and Predictions</a></h5>

Polygon (MATIC) Price Analysis and Predictions

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