Polygon (MATIC) Poised for a Bullish Breakout
Crypto analyst Ali Martinez believes that Polygon (MATIC) is gearing up for a significant price surge. The catalyst for this surge would be a daily or weekly candlestick close above the $0.96 level, which hasn’t been reached since May. If this resistance level is breached, it could trigger a 100% increase in the MATIC price.
Martinez has identified two potential targets after the breakout: $1.25 and $1.82. This indicates the bullish momentum that could be unleashed if the $0.96 level is surpassed.
MATIC Shows Strong Bullish Strength
Despite a dip in price following the Bitcoin crash, MATIC remains strong compared to other altcoins. The profitability of MATIC holders is still at a meager 30%, indicating that there are not many investors looking to sell their tokens at the moment.
This lack of selling pressure sets MATIC apart from assets like Ethereum, which are experiencing mounting sell pressure. As a result, MATIC may not see a significant sell-off and could continue its bullish trend.
[Insert MATIC price chart]Hot Take: Potential for MATIC Price Surge
Analyst Ali Martinez believes that Polygon (MATIC) has the potential for a significant price surge if it can break above the $0.96 resistance level. This breakout could trigger a 100% increase in the MATIC price, with targets set at $1.25 and $1.82.
Furthermore, MATIC remains strong compared to other altcoins, with low selling pressure due to its profitability sitting at 30%. This indicates that there are not many investors looking to sell their tokens, which could further support the bullish momentum of MATIC.
Overall, Polygon (MATIC) shows promise for a bullish breakout and potential price surge in the near future.
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