As a seasoned crypto investor with a keen interest in Polygon (MATIC), I’m excited about the recent bullish signals that this token has been displaying. After a prolonged bearish outlook, these signs suggest that MATIC could be on the verge of making a significant move upwards.
Polygon (MATIC) has been displaying optimistic indicators once more after a prolonged bearish stance. These positive signs hint at a potential substantial price surge upwards for the token in the near future. Notably, crypto analyst World of Charts anticipates that this upward trend could lead to a remarkable 1,000% increase in Polygon’s value.
Polygon To Rise To As High As $5
In a recent post on X (previously Twitter), World of Charts expressed his belief that Polygon’s price could surge between $4 and $5 in the near future. He emphasized this as a potential last opportunity to buy MATIC tokens before a robust bullish trend sets in. This anticipated price increase for Polygon might transpire during the upcoming altcoin market surge.
It’s intriguing to note that the crypto analyst is optimistic about Polygon’s potential growth, predicting it could reach as high as $40 in the long term based on his analysis of the chart. In the near term, he believes a price between $10 and $12 is achievable.
According to data from market intelligence platform IntoTheBlock, many of Polygon’s key on-chain indicators are positive, potentially fueling the cryptocurrency’s recent price increase. One noteworthy metric is the uptick in large transactions, implying that major crypto investors have been actively purchasing Polygon tokens.
Polygon is likely to experience a substantial price surge when the altcoin market takes off, as it is situated advantageously with the upcoming Ethereum-backed ETFs anticipated to spark this trend for alternative cryptocurrencies. Consequently, the altcoin rally might commence within the Ethereum realm, where Polygon stands out among the notable Ethereum-linked tokens.
Time To Flip Bullish On Polygon
As a researcher closely monitoring the cryptocurrency market, I’ve been observing Polygon’s price action for some time now. I disclosed my short position on the crypto token recently, but I believe we are approaching a bullish reversal for Polygon. Fellow analyst CrediBUL made a similar prediction, expressing his intention to switch from bearish to bullish soon. Additionally, Mayor of Matic identified a wedge pattern in Polygon’s chart and expressed optimism about the potential power of the breakout above this pattern.
Crypto analyst Crypt Kaleo pointed out Polygon’s chart back in March, implying that the crypto token was gearing up for a significant price surge. Given its prolonged consolidation since then, this potential parabolic increase could occur relatively soon. Yet, it remains uncertain if MATIC will reach the $5 mark as forecasted by World of Charts.
Currently, Polygon is priced approximately at $0.56 on the market, representing a decrease of more than 2% within the past 24 hours based on information from CoinMarketCap.
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2024-06-22 21:04