{"id":34851,"date":"2024-01-07T15:52:34","date_gmt":"2024-01-07T19:52:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34851"},"modified":"2024-01-07T15:52:34","modified_gmt":"2024-01-07T19:52:34","slug":"crypto-analyst-forecasts-matic-price-recovery-with-this-16-swing","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/07\/crypto-analyst-forecasts-matic-price-recovery-with-this-16-swing\/","title":{"rendered":"Crypto Analyst Forecasts MATIC Price Recovery With This 16% Swing"},"content":{"rendered":"

MATIC was one of the altcoins affected by the recent market downturn triggered by the controversial Matrixport report<\/a> on the Bitcoin spot ETF this week. This negative sentiment pushed the cryptocurrency\u2019s price from trading at nearly $1 to below $0.85 in a single move.<\/p>\n

However, the tide seems to be turning in favor of the bulls, as the MATIC coin has jumped more than 1.2% in the past day. In fact, a popular crypto analyst on the X (formerly Twitter) platform has sounded a buy alarm for Polygon\u2019s native token.<\/p>\n

Can MATIC\u2019s Price Return To $0.96?<\/strong><\/h2>\n

In a recent post on X, crypto analyst Ali Martinez<\/a> has put forward a bullish projection for the price of MATIC over the coming days. According to the crypto pundit, the cryptocurrency looks set to recover all its lost gains in a potential upward price movement.<\/p>\n

The reasoning behind this bullish prediction for the Polygon token<\/a> revolves around the TD (Tom DeMark) Sequential indicator. For context, the Tom DeMark Sequential indicator is used to identify the exact time of trend exhaustion and price reversal.<\/p>\n

#Polygon<\/a> | The TD Sequential presents a buy signal on $MATIC<\/a> 4-hour chart.<\/p>\n

A spike in buying pressure around the current levels could see #MATIC<\/a> rebound, potentially toward $0.88, and even as high as $0.96. pic.twitter.com\/lj96zgPh7k<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 6, 2024<\/a><\/p>\n

Martinez noted in his analysis that the TD indicator is currently flashing a buy sign on MATIC\u2019s 4-hour price chart. However, the crypto analyst highlighted that a bullish future for MATIC hinges on a spike in buying pressure around the current price levels. <\/p>\n

This could potentially see the Polygon token climb toward $0.88 and as high as $0.96, Martinez said. Ultimately, this bullish prediction depicts an almost 16% surge from the current price point.\u00a0<\/p>\n

It is worth noting that the Relative Strength Index (RSI) on the 4-hour timeframe, which tracks the bullish and bearish momentum of a token, is currently at 38.2. When the RSI is below 50, it may suggest that the token is witnessing some bearish momentum.<\/p>\n

MATIC Price Overview<\/strong><\/h2>\n

As of this writing, the price of MATIC stands at $0.828969, reflecting a mere 1.2% increase in the past 24 hours. Polygon\u2019s sluggish performance in the past day emphasizes the altcoin\u2019s struggles over the last seven days.<\/p>\n

According to data from CoinGecko, the MATIC price<\/a> has declined by more than 14% in the past week. And this recent market downturn saw the cryptocurrency lose virtually all of the profits it accrued in December.<\/p>\n

Nevertheless, MATIC ranks as the 14th-largest cryptocurrency in the sector, with a market capitalization of about $7.8 billion.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MATIC was one of the altcoins affected by the recent market downturn triggered by the controversial Matrixport report<\/a> on the Bitcoin spot ETF this week. This negative sentiment pushed the cryptocurrency\u2019s price from trading at nearly $1 to below $0.85 in a single move.<\/p>\n

However, the tide seems to be turning in favor of the bulls, as the MATIC coin has jumped more than 1.2% in the past day. In fact, a popular crypto analyst on the X (formerly Twitter) platform has sounded a buy alarm for Polygon\u2019s native token.<\/p>\n

Can MATIC\u2019s Price Return To $0.96?<\/strong><\/h2>\n

In a recent post on X, crypto analyst Ali Martinez<\/a> has put forward a bullish projection for the price of MATIC over the coming days. According to the crypto pundit, the cryptocurrency looks set to recover all its lost gains in a potential upward price movement.<\/p>\n

The reasoning behind this bullish prediction for the Polygon token<\/a> revolves around the TD (Tom DeMark) Sequential indicator. For context, the Tom DeMark Sequential indicator is used to identify the exact time of trend exhaustion and price reversal.<\/p>\n

#Polygon<\/a> | The TD Sequential presents a buy signal on $MATIC<\/a> 4-hour chart.<\/p>\n

A spike in buying pressure around the current levels could see #MATIC<\/a> rebound, potentially toward $0.88, and even as high as $0.96. pic.twitter.com\/lj96zgPh7k<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 6, 2024<\/a><\/p>\n

Martinez noted in his analysis that the TD indicator is currently flashing a buy sign on MATIC\u2019s 4-hour price chart. However, the crypto analyst highlighted that a bullish future for MATIC hinges on a spike in buying pressure around the current price levels. <\/p>\n

This could potentially see the Polygon token climb toward $0.88 and as high as $0.96, Martinez said. Ultimately, this bullish prediction depicts an almost 16% surge from the current price point.\u00a0<\/p>\n

It is worth noting that the Relative Strength Index (RSI) on the 4-hour timeframe, which tracks the bullish and bearish momentum of a token, is currently at 38.2. When the RSI is below 50, it may suggest that the token is witnessing some bearish momentum.<\/p>\n

MATIC Price Overview<\/strong><\/h2>\n

As of this writing, the price of MATIC stands at $0.828969, reflecting a mere 1.2% increase in the past 24 hours. Polygon\u2019s sluggish performance in the past day emphasizes the altcoin\u2019s struggles over the last seven days.<\/p>\n

According to data from CoinGecko, the MATIC price<\/a> has declined by more than 14% in the past week. And this recent market downturn saw the cryptocurrency lose virtually all of the profits it accrued in December.<\/p>\n

Nevertheless, MATIC ranks as the 14th-largest cryptocurrency in the sector, with a market capitalization of about $7.8 billion.<\/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-34851","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\/34851","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=34851"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34851\/revisions"}],"predecessor-version":[{"id":34855,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34851\/revisions\/34855"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34851"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}