With most assets in the cryptocurrency sector starting to slow down their gains from previous weeks, Polygon (MATIC) is still going strong, having broken the $1 threshold, recording significant increases on all of its charts, and showing signs of further bullish continuation above $1.70.
As it happens, Polygon’s cryptocurrency seems to be on the brink of breaking out from a symmetrical triangle, according to the chart pattern observations shared by the renowned crypto market analyst Ali Martinez in an X post he published on December 26.
Furthermore, the crypto trading expert pointed out that “a sustained weekly candlestick close above $0.96 could propel MATIC towards $1.73,” as demonstrated in his analysis of the Polygon’s price movement chart zoomed out to account for the action since 2021.
Picks for you
It is also worth noting that Martinez earlier noticed a substantial increase in whale activity on the MATIC network that often signals positive price change, adding that “we could be on the brink of a major MATIC price move,” as he explained on December 21, when Polygon was still trading below the $1 level.
Polygon price analysis
Meanwhile, MATIC was at press time changing hands at the price of $1.045, which indicates an increase of 17.97% in the last 24 hours, in addition to a 34.37% gain across the previous seven days and a 40.57% advance on its monthly chart, as per the data retrieved by Finbold on December 27.
Overall, the price of Polygon’s crypto asset does, indeed, seem to be getting ready for a rally to $1.70 and beyond as it demonstrates resilience amid challenges and emerges from a position of ‘yearly loss’ in its price. However, the final confirmation of Martinez’s predictions will happen by the end of this week.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
