{"id":564774,"date":"2023-12-10T08:42:58","date_gmt":"2023-12-10T08:42:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=564774"},"modified":"2023-12-10T08:42:58","modified_gmt":"2023-12-10T08:42:58","slug":"crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/matic\/crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen\/","title":{"rendered":"Crypto Analyst Predicts 100% Price Surge For MATIC – 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.<\/span><\/p>\n

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

\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><\/blockquote>\n

Related Reading: Why Is XRP Price Up Today? Ripple\u2019s Massive Buyback May Have The Answer<\/a><\/div>\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.<\/span><\/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.<\/span><\/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.<\/span><\/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.<\/span><\/p>\n

\"MATIC\"<\/p>\n

42,000 addresses purchased 5.8 MATIC billion tokens between $0.80 and $0.86 | Source: Ali_charts\/X<\/a><\/span><\/pre>\n
Related Reading: Bitcoin Bull Signal Returns: Exchange Supply Hits Lowest Level Since 2017<\/a><\/div>\n
As displayed in the chart above, the small size of the dots indicates the low density of investors and <\/span>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.<\/span><\/p>\n
\"MATIC\"<\/p>\n
MATIC price hovers around the $0.9 mark on the daily timeframe | Source: MATICUSDT chart on TradingView<\/a><\/pre>\n
Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"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, the cryptocurrency has not been able to return above the $1 mark, seemingly facing rejection at the $0.9 zone. However, it appears that the tides might be changing for MATIC following a crypto analyst\u2019s projection.\u00a0 Will MATIC Price Skyrocket 100% If This Happens? 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 platform, the analyst revealed that the altcoin could be set for a bullish breakout that could catapult its price to double its current value. 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. Keep your eyes on #Polygon! A daily or weekly candlestick close above $0.96 could be the spark for a bullish $MATIC breakout. If this key level is breached, we might witness #MATIC surging toward $1.82! pic.twitter.com\/M9bz3myRVi \u2014 Ali (@ali_charts) December 9, 2023 Related Reading: Why Is XRP Price Up Today? Ripple\u2019s Massive Buyback May Have The Answer 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. This projection 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. On-Chain Data Reveals Minimal Resistance Ahead 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, Martinez revealed that the Polygon token might be set to go on a bullish run. 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. 42,000 addresses purchased 5.8 MATIC billion tokens between $0.80 and $0.86 | Source: Ali_charts\/X Related Reading: Bitcoin Bull Signal Returns: Exchange Supply Hits Lowest Level Since 2017 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. MATIC price hovers around the $0.9 mark on the daily timeframe | Source: MATICUSDT chart on TradingView Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":539045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86487],"tags":[87818,40670,86442,79614,83584,90093],"class_list":["post-564774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matic","tag-ali-martinez","tag-matic","tag-matic-price","tag-maticusdt","tag-polygon","tag-polygon-network"],"acf":[],"yoast_head":"\nCrypto Analyst Predicts 100% Price Surge For MATIC - Here\u2019s What Needs To Happen<\/title>\n<meta name=\"description\" content=\"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.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/matic\/crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst Predicts 100% Price Surge For MATIC - 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