{"id":34024,"date":"2023-12-10T08:52:35","date_gmt":"2023-12-10T12:52:35","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=34024"},"modified":"2023-12-10T08:52:35","modified_gmt":"2023-12-10T12:52:35","slug":"crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/10\/crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen\/","title":{"rendered":"Crypto Analyst Predicts 100% Price Surge For MATIC \u2013 Here\u2019s What Needs To Happen"},"content":{"rendered":"

MATIC, the native token of the Polygon network, has been on an exciting run in the past few weeks, like several other altcoins in the market. Despite the positive price performance<\/a>, the cryptocurrency has not been able to return above the $1 mark, seemingly facing rejection at the $0.9 zone.<\/p>\n

However, it appears that the tides might be changing for MATIC following a crypto analyst\u2019s projection<\/a>.\u00a0<\/p>\n

Will MATIC Price Skyrocket 100% If This Happens?<\/strong><\/h2>\n

Prominent crypto analyst Ali Martinez has put forward their bullish projection for the MATIC price in the near future. In a post on the X<\/a> platform, the analyst revealed that the altcoin could be set for a bullish breakout that could catapult its price to double its current value.<\/p>\n

Martinez\u2019s prediction revolves around the symmetrical triangle pattern forming on the Polygon weekly price chart. Interestingly, the MATIC triangular formation is around the $0.96 price point, intersecting with the 50% Fibonacci retracement level.<\/p>\n

Keep your eyes on #Polygon<\/a>! A daily or weekly candlestick close above $0.96 could be the spark for a bullish $MATIC<\/a> breakout.<\/p>\n

If this key level is breached, we might witness #MATIC<\/a> surging toward $1.82! pic.twitter.com\/M9bz3myRVi<\/a><\/p>\n

\u2014 Ali (@ali_charts) December 9, 2023<\/a><\/p>\n

This pattern forms a basis of Martinez\u2019s projection, as the analyst believes \u201ca daily or weekly candlestick close above $0.96 could be the spark for a bullish MATIC breakout.\u201d According to the analyst, a break through this critical price level could send the altcoin to $1.82.<\/p>\n

This projection<\/a> represents an approximately 100% rally from the current price point. As of this writing, the Polygon token is valued at $0.905165, reflecting a nearly 2% price decline in the past 24 hours. Nevertheless, MATIC ranks as the 15th-largest cryptocurrency, with a market capitalization of roughly $8.42 billion.<\/p>\n

On-Chain Data Reveals Minimal Resistance Ahead<\/strong><\/h2>\n

A particular on-chain data revelation adds even more strength to Martinez\u2019s $1.82 projection for MATIC price. In an earlier post on X<\/a>, Martinez revealed that the Polygon token might be set to go on a bullish run.<\/p>\n

This theory is based on price data from the analytics platform IntoTheBlock. According to the blockchain platform, about 42,000 addresses purchased\u00a05.8 billion tokens between $0.80 and $0.86, making the price range a \u201ckey\u201d support zone.<\/p>\n\n

As displayed in the chart above, the small size of the dots indicates the low density of investors and no major on-chain resistance above the current MATIC price. \u201cGiven the minimal resistance ahead, Polygon seems primed for a bull run as long as this level holds,\u201d according to the analyst.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MATIC, the native token of the Polygon network, has been on an exciting run in the past few weeks, like several other altcoins in the market. Despite the positive price performance<\/a>, the cryptocurrency has not been able to return above the $1 mark, seemingly facing rejection at the $0.9 zone.<\/p>\n

However, it appears that the tides might be changing for MATIC following a crypto analyst\u2019s projection<\/a>.\u00a0<\/p>\n

Will MATIC Price Skyrocket 100% If This Happens?<\/strong><\/h2>\n

Prominent crypto analyst Ali Martinez has put forward their bullish projection for the MATIC price in the near future. In a post on the X<\/a> platform, the analyst revealed that the altcoin could be set for a bullish breakout that could catapult its price to double its current value.<\/p>\n

Martinez\u2019s prediction revolves around the symmetrical triangle pattern forming on the Polygon weekly price chart. Interestingly, the MATIC triangular formation is around the $0.96 price point, intersecting with the 50% Fibonacci retracement level.<\/p>\n

Keep your eyes on #Polygon<\/a>! A daily or weekly candlestick close above $0.96 could be the spark for a bullish $MATIC<\/a> breakout.<\/p>\n

If this key level is breached, we might witness #MATIC<\/a> surging toward $1.82! pic.twitter.com\/M9bz3myRVi<\/a><\/p>\n

\u2014 Ali (@ali_charts) December 9, 2023<\/a><\/p>\n

This pattern forms a basis of Martinez\u2019s projection, as the analyst believes \u201ca daily or weekly candlestick close above $0.96 could be the spark for a bullish MATIC breakout.\u201d According to the analyst, a break through this critical price level could send the altcoin to $1.82.<\/p>\n

This projection<\/a> represents an approximately 100% rally from the current price point. As of this writing, the Polygon token is valued at $0.905165, reflecting a nearly 2% price decline in the past 24 hours. Nevertheless, MATIC ranks as the 15th-largest cryptocurrency, with a market capitalization of roughly $8.42 billion.<\/p>\n

On-Chain Data Reveals Minimal Resistance Ahead<\/strong><\/h2>\n

A particular on-chain data revelation adds even more strength to Martinez\u2019s $1.82 projection for MATIC price. In an earlier post on X<\/a>, Martinez revealed that the Polygon token might be set to go on a bullish run.<\/p>\n

This theory is based on price data from the analytics platform IntoTheBlock. According to the blockchain platform, about 42,000 addresses purchased\u00a05.8 billion tokens between $0.80 and $0.86, making the price range a \u201ckey\u201d support zone.<\/p>\n

As displayed in the chart above, the small size of the dots indicates the low density of investors and no major on-chain resistance above the current MATIC price. \u201cGiven the minimal resistance ahead, Polygon seems primed for a bull run as long as this level holds,\u201d according to the analyst.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-34024","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=34024"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34024\/revisions"}],"predecessor-version":[{"id":34026,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34024\/revisions\/34026"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34024"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}