Digital asset analyst with X take care of Crypto Patel has currently shared a bullish prediction on MATIC mark stream in the coming weeks. This forecast comes amidst MATIC’s unhappy efficiency in the closing seven days, during which it lost 6.68% of its market mark, consistent with knowledge from CoinMarketCap.
The Polygon native token had been one in all the good-performing resources in 2024 rising by over 76.38% between January to March. On the opposite hand, the altcoin has now recorded a 22.83% decline over the closing two weeks, drawing mighty place over its future mark stream.
$1.20 Price Level Crucial For MATIC Price Surge, Analyst Says
In a publish on X on March 23, Crypto Patel introduced a bullish case for MATIC despite the token’s present downtrend, naming the forecast the “MATIC BULL RUN ROADMAP.”
Firstly, the analyst acknowledged that a MATIC bullish pennant changed into once being fashioned. For context, the bullish pennant represents a mark sample that on the entire follows a string of upward stream in mark (the flagpole) adopted by a duration of consolidation (pennant).
$MATIC BULL RUN ROADMAP 🚀
1⃣ #MATIC Forming Bullish Pennant In HTF
2⃣ 2021 Bull Proceed: Did 100x in Closing bull Market After Bull Flag Breakout
3⃣ If MATIC/USDT Destroy $1.20 Level in HTF then Ready for $10-$15 Goal
4⃣ I am Bullish in #POLYGON for Long Proceed
5⃣ If Market Fracture then… pic.twitter.com/FJEvGiHd4U— Crypto Patel (@CryptoPatel) March 23, 2024
A bullish pennant is characterised by converging trendlines, which signifies the continuation of the outdated uptrend once the price breaks out of consolidation. Importantly, Crypto Patel emphasised that MATIC’s bullish pennant changed into once being fashioned on a nearer time physique (HTF), reminiscent of the weekly chart.
Following historical trends, the entire formation of the bullish pennant might per chance presumably well also lead to Polygon native asset experiencing a 100x mark lengthen in the highly anticipated crypto bull stir, as seen in 2021.
On the opposite hand, with a focal level on short-time-frame targets, Crypto Patel has acknowledged that MATIC reaching the $1.20 mark zone on the HTF might per chance presumably well also trigger a surge to a differ of $10-$15, representing a possible 1500% fabricate on the asset’s present mark. Albeit, in the advent of an surprising crash, the crypto analyst expects MATIC might per chance presumably well also very effectively be significantly affected but must unexcited fetch fortify around the $0.60-$0.70 mark zone.
MATIC Price Overview
At the time of writing, MATIC trades around $0.9817 with a 1.30% fabricate in the closing 24 hours. Meanwhile, the token’s each day trading volume has declined by 31.82% and is valued at $291.65 million. With a market cap mark of $9.7 billion, MATIC is ranked the 16th largest cryptocurrency and one in all the arena’s most renowned digital resources.
MATIC trading at $0.9771 on the each day chart | Source: MATICUSDT chart on Tradingview.com
Featured image from Freepik, chart from Tradingview
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