Analyst Predicts MATIC Price Will Reach $1.30

Polygon (MATIC)’s journey has been marked by significant volatility, as it soared to $1.28 before settling at $0.59. Recent trends show that Polygon is up slightly by around 2.58% over the past week. However, MATIC experienced a notable month-over-month decline of 32%. Despite this decline, MATIC continues to attract attention, raising hopes that its value may recover.

As of this writing, Polygon’s current price is $0.704,538 with a 24-hour trading volume of $3.11 billion, indicating active participation in the market. Its market capitalization is estimated at $5.64 billion, reflecting its large presence in the cryptocurrency world.

Source: CoinMarketcap

MATIC is slightly up, with the price increasing by 0.62% in the past 24 hours. This indicates continued market activity and potential changes in investor sentiment towards his MATIC token.

MATIC Major Hurdle at $0.72: Analyst Eyes at $1.30 Mark

The recent price trajectory of Polygon’s stock has revealed some notable developments. The lower limit of the uptrend channel has been broken. This important event reflects a possible change in the upward momentum over the medium to long term. This breakout suggests the pace of the rally may be slowing, suggesting the market is calming and becoming more cautious.

Currently, the cryptocurrency is encountering a significant obstacle as it continues down its path in the form of resistance at the 0.72 mark. Although resistance at 0.72 may initially cause a negative reaction from the market and lead to a temporary price pullback, overcoming this barrier could create a renewed sense of optimism. A successful breakout above the 0.72 level would signify a bullish victory and serve as a clear signal of strength and resilience in Polygon’s upward trajectory.

Crypto Analyst World of Charts share Interesting observation on MATIC’s price trajectory. According to their analysis, MATIC appears to be forming a bullish flag pattern within the H4 time frame. This pattern usually indicates a period of consolidation followed by a possible continuation of the previous uptrend.

In the context of MATIC, World Of Charts predicts a big move towards the $1.30 mark if this bullish flag pattern succeeds in breaking out. This forecast suggests that bullish sentiment is prevalent in the market and prices may rise further in the short term.

Related Reading | Crypto Adoption Soars: 39% of Canadian Institutional Investors Jump into Crypto

Related Article


Leave a Comment