🔥 Analyst Predicts Polygon (MATIC) Breakout to $1.10 Soon
With Polygon (MATIC) consolidating strongly over the past weeks, analysts now predict a potential breakout targeting $1.10 in the coming days, citing a powerful bullish technical setup.
Notably, based on recent charts, MATIC has been trading in a tight wedge pattern with declining volume – a classic indicator of an impending breakout. If bulls manage to push the price above the critical $0.85 resistance, upward momentum could accelerate quickly.
---
🟢 Key Technical Indicators
✅ Golden Cross Potential
The 50-day moving average (MA) is approaching a cross above the 200-day MA, forming a golden cross – historically a strong bullish signal.
✅ Strong Support Zone
Support remains firm near $0.70, acting as a safety net for buyers accumulating at lower levels.
✅ RSI Analysis
The Relative Strength Index (RSI) is hovering near 60, suggesting further room for upward movement before entering overbought territory.
---
📈 MATIC Price Chart Analysis
The current pattern mirrors previous rallies where MATIC consolidated tightly before strong breakouts. Analysts suggest that if market conditions remain favourable, MATIC could surpass $1.10 soon, driven by growing interest in Ethereum scaling solutions and Layer-2 adoption.
---
💡 Is It Time to Buy MATIC?
Some traders recommend entering positions above $0.85 breakout levels with targets of $1.10 and beyond. However, caution remains essential, as failure to break resistance could lead to a retest of lower support at $0.70.
---
📝 At Press Time:
MATIC is trading at $0.81, up 2.4% in the past 24 hours and showing steady growth momentum for the week.
---
⚠️ Disclaimer: This post is for educational and informational purposes only. Not financial advice. Always do your own research before investing.
