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According to crypto expert Ali Martinez, Polygon (MATIC) is poised for large gains amidst a wider correction successful the past 7 days. Polygon is presently down by 9.2% successful the past 7 days, but the expert pointed retired that MATIC is printing a textbook bargain awesome connected the regular chart.
In a recent analysis posted connected societal media level X, Martinez noted that the TD Sequential method investigation presents a bargain awesome successful a imaginable terms reversal.
Crypto Analyst Spots Buy Signal for MATIC
Martinez is known for his concise aboriginal outlooks regarding fashionable cryptocurrencies, particularly Bitcoin, Ethereum, Solana, and Dogecoin. However, helium has present made a uncommon prediction regarding Polygon (MATIC).
At the clip of writing, MATIC has mostly traded beneath the $1 people since March 29. But according to the analyst, caller terms enactment indicates this is poised to alteration precise soon. According to the 1D illustration shared connected societal media, MATIC seems to person formed large enactment astatine $0.8733 and is showing beardown signs of a imaginable bounce to the upside.
The TD Sequential presents a bargain awesome connected the $MATIC regular chart! If #MATIC stays beardown supra $0.87, we could spot a rebound to $0.95, oregon amended yet, $1! pic.twitter.com/YSEoH7JbV4
— Ali (@ali_charts) April 5, 2024
The TD sequential indicator has presented a bargain awesome successful the signifier of a reddish 9 candlestick, indicating the commencement of a caller upward countdown. If MATIC holds supra $0.87, it volition corroborate the bargain awesome and apt spark a determination to $0.95 to $1 and beyond. The past Polygon clip saw a akin awesome connected the indicator, it went connected a mean summation from $0.95 to $1.08.
What’s Next For Polygon?
Polygon is presently undergoing cardinal changes that could find its terms trajectory for the remainder of the year. One of these is simply a planned upgrade to Polygon 2.0 and the power from the MATIC token to the POL token arsenic the autochthonal state and staking plus of the Polygon ecosystem.
A by-product of this alteration could beryllium a alteration successful trading enactment for MATIC, which successful crook could pb to a lackluster terms action. However, MATIC does look good positioned for further gains if the method indicator proves close and the wide crypto marketplace returns to a beardown bullish momentum. As a result, it could stitchery capable spot from the bulls to propulsion supra $1 again.
Interestingly, the token’s terms enactment has gone successful the mode of Martinez’s investigation since helium dropped it. At the clip of writing, MATIC is trading astatine $0.9048, representing a 3.6% summation from $0.8733. On a larger timeframe, MATIC is presently 29% down from its yearly precocious of $1.2751 which it attained connected March 13.
Featured representation from Pexels, illustration from TradingView
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