A prominent market analyst, Ali Martinez, has set his sights on Polygon (MATIC), predicting a potential bullish surge for the altcoin. Martinez, known for his astute market analyses, suggests that MATIC could soar to as high as $1 in the immediate future.
Read CRYPTONEWSLAND onDelving into the technical indicators, Martinez highlights the TD Sequential indicator on the daily chart for Polygon-USD, signaling a buy order. This signal hints at an imminent shift in the trend, following a period of significant sell-offs that has weighed down the cryptocurrency for over a week.
As of the latest update, MATIC is trading at $0.8675, experiencing a slight decline of 3.57% over the past 24 hours. The downward trajectory in Polygon’s price has persisted over the past seven days, with a notable drop from its weekly high of $1.005 following a brief period of bullish consolidation from March 31 to April 1.
Martinez’s analysis suggests that if MATIC manages to maintain its position above the $0.87 mark, it could gather enough bullish momentum to surpass the $1 resistance level. Renowned for its collaborations with various blockchain projects, Polygon benefits from a thriving ecosystem that bolsters demand for MATIC.
This robust ecosystem could potentially shield Polygon from the broader bearish trends in the market. Furthermore, the anticipated upgrade of MATIC to POL represents a promising fundamental development that could further propel the token’s price in the long run.
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