Cryptocurrency analyst Ali Martinez, one of the Ethereum (ETH)-based altcoins in the top 20 polygon A remarkable prediction about the price made.
Martinez believes that the MATIC price could gain up to 115% in value from its current levels. According to the analyst, Polygon is forming a symmetrical triangle formation on the three-day chart and is about to break out of the upper trend line of the formation.
The symmetrical triangle formation is interpreted as a bullish or bearish trend. If the price rises above the upper trend line, it is bullish; if it falls below the lower trend line, it is bearish.
According to the analyst, the first target for MATIC is around $1.25, and then the closest target is at $1.82. These levels create a good opportunity for the completion of the determined formation.
Leading presence on Ali Martinez’s radar Bitcoin It is also available. Citing data from Glassnode, Martinez noted that the BTC market capitalization to realized value (MVRV) metric shows the next major price targets at $52,680 and $70,250.
MVRV is the ratio of the current market value of Bitcoin to the realized capitalization of the crypto asset (the market value of BTC when the coins were last moved or purchased).
Finally, Martinez, who completed his analysis with Chainlink, thinks that the blockchain oracle platform can potentially gain value up to $ 34, but a fall below its $ 14.20 price invalidates the bullish view on the four-hour chart.
