According to crypto analyst Ali Martinez, popular altcoin Polygon (MATIC) has been consolidating in a symmetrical triangle pattern for a long time. This chart pattern suggests that the price is rising for a possible breakout, which could result in a 90% upside move for MATIC. Here are the details…
Martinez’s technique for Polygon (MATIC) analysisreveals that the altcoin has been consolidating in a symmetrical triangle formation for a long time. This prolonged consolidation of MATIC indicates that a major price movement is likely in the near future. This could present a remarkable opportunity for investors.
The symmetrical triangle formation is a chart pattern in which the price alternates between lows and highs over a period of time, forming a triangle. This pattern typically represents a period of indecision and uncertainty in the market, where buyers and sellers are evenly matched. It also includes the prediction that the price will generally break out on one side of this triangle and then initiate a strong move in the direction of this break. Martinez’s analysis also shows that the price is preparing for a potential upward break in MATIC’s symmetrical triangle formation.
Notably, MATIC sustaining a close above $0.96 would pave the way for a target of $1.73. This implies an upside move of approximately 90%, and such a breakout could signal the beginning of MATIC’s bull rally.
Latest MATIC News Polygon recently introduced Polygon ID Version 6, which will be the most widely adopted digital identity solution. This new version is the first-ever implementation of Dynamic Credentials, a W3C protocol that allows users to automatically renew expired credentials from their wallets. draws attention.
Polygon ID Version 6 also includes a number of significant improvements that enhance Polygon ID’s on-chain capabilities. Moreover, it paves the way for solving important Web3 problems such as Sybil attacks. This update represents an important step for Polygon to solidify its leadership in blockchain-based identity solutions.
These improvements will help the altcoin community build a stronger and more robust ecosystem.
You can follow the current price movement here.
