MATIC Price Prediction: Polygon on cusp of colossal 60% upswing
- MATIC price is trading inside a bull flag on the 4-hour chart.
- The digital asset faces one last key resistance level before new all-time highs.
- At the same time, MATIC might need a correction first.
MATIC had a massive rally in the last two weeks, hitting a new all-time high at $0.94. The digital asset has been trading sideways since then and it is on the verge of a new leg up.
MATIC price aims for a new breakout to new all-time highs
On the 4-hour chart, MATIC has established a bull flag and seeks a breakout above the key resistance level at $0.85. The pattern has a long-term price target of $1.35, but MATIC will most likely pause at $1 before reaching it.
MATIC/USD 4-hour chart
MATIC has a lot of bullish momentum and just had a bounce from the lower boundary of the pattern. Nonetheless, it still needs to crack the key resistance level ahead.
MATIC/USD 4-hour chart
If the bears can push MATIC price below $0.75, which is the most important support point, the digital asset can quickly fall to a low of $0.56, a 26% move calculated by measuring the height of the symmetrical triangle.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
