Polygon MATIC has edged above the $0.72 resistance level and is showing signs of further upside. The establishment of a break here suggests that price momentum is building. Looking at past price history, volume also peaks when price peaks, and the tendency for higher volume during peaks and lower volume during troughs indicates strength in the currency position and a strong possibility that the breakout will continue.
Crypto analysts are bullish on MATIC’s future momentum as trading volumes back up the recent price movements. The intraday price movements have occurred with very high trading volumes at key price levels, suggesting that it could be a bullish move as MATIC is poised to achieve further growth in the coming sessions.
The token is setting the stage for a significant price surge as the altcoin market heads towards a bull run. Sentiment remains bullish, and the long-awaited approval of an Ethereum ETF in particular could have a major impact on the altcoin market, including MATIC. Investors are eyeing the possibility of alt season propelling prices to new highs.
MATIC short-term forecast suggests target of $0.88
The short-term movement of MATIC shows a bullish outlook, suggesting an imminent upside. Renowned crypto analyst Ai Martinez has highlighted a growing bullish pattern in MATIC’s upcoming momentum. Martinez notes that the token has been consolidating within a parallel channel for the past month. A breakout above $0.76 could trigger a 17% surge, pushing the token’s price to $0.88.
Currently, the token is attempting to break out of this channel with the price hovering around $0.734031. The 24-hour trading volume is $591.99 million and the market cap is $5.88 billion. The price has fallen by 0.62% in the past 24 hours, but has seen a slight increase of 2.80% over the past week.
Historical Trends Support Potential for MATIC to Rise 99x
Renowned cryptocurrency analyst Javon Marks has made a bullish prediction about what the future price movement of Polygon (MATIC) will be. According to the analyst, the token is on the verge of a sudden surge. If it follows a perfect logarithmic pattern, the cryptocurrency’s next upswing could reach around $75, which is almost 99 times its current value.
This is a cautiously bullish take based on history. In the last market cycle, Polygon (MATIC) delivered an impressive gain of over 29,000%, which equates to a return of over 288x. By this measure of performance, a statement of this magnitude is likely this cycle, meaning Marks’ prediction is not only achievable, but likely to come true.
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