Polygon

<ul><li>Captain Faibik identifies a bullish symmetrical triangle pattern in MATIC&#39;s chart, predicting a significant price breakout.</li><li>MATIC&#39;s price target was $8.9679 post-breakout, indicating a potential 341.27% increase.</li><li>Analyst Crypto Rover hinted that MATIC is breaking out of the multiyear consolidation pattern.</li></ul>In a recent analysis, Captain Faibik highlighted a promising development in <a href="https://cryptotale.org/polygon-matic-surpasses-ethereum-in-nft-sales-whats-driving-the-surge/" rel="noopener noreferrer nofollow">Polygon&#39;s (MATIC)</a> price chart. In a tweet, the analyst pointed out a symmetrical triangle pattern on MATIC&#39;s weekly timeframe, signaling a potential upside breakout.The symmetrical triangle stands out as a pivotal feature in MATIC’s price analysis. It represents a period of consolidation, with price highs and lows converging to a point. This pattern is widely regarded as a precursor to a significant price move. Hence, the community watches with bated breath. The expert’s chart analysis indicates an upward trajectory, suggesting bullish momentum that has captivated the market&#39;s attention.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/8e141c6a5be243dea9199b32c93ca840.png" />Significantly, a price target of $8.9679 has been projected, hinting at a 341.27% increase from the breakout point. This ambitious target stems from the triangle&#39;s base height, projected upwards, fueling discussions on profit potentials. However, MATIC&#39;s price journey, marked by dramatic fluctuations, injects a note of caution into the mix. The volume indicators, critical for confirming breakouts, present an inconsistent picture, further complicating the analysis.<a href="https://cryptotale.org/can-matic-reach-the-ambitious-8-9679-target-experts-technical-analysis/" rel="noopener noreferrer nofollow">Read full article at CryptoTale.</a>

Can MATIC Reach the Ambitious $8.9679 Target? Expert’s Technical Analysis

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