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 price

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 price

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.  

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