The Polygon crypto has been under scrutiny among investors, despite a minor dip of nearly 2% in the MATIC price on April 5. Notably, recent developments, including the unveiling of cdk-erigon for Polygon’s zkEVM on March 29, have piqued interest among the market participants over crypto.

However, amid the recent market volatility, concerns arose following the price slump. Nevertheless, optimism reigns as a prominent crypto analyst predicts a bullish trend for MATIC, citing compelling technical indicators.

Analyst Predicts MATIC Price Rally To $1

The recent slump in the MATIC price has raised concerns among investors, while some speculate the decline is a short-term dip. However, amid the topsy-turvy scenario, a bullish forecast from a prominent crypto market analyst has sparked speculations in the market.

Meanwhile, amid the recent dip in MATIC’s price, crypto analyst Ali Martinez’s optimistic forecast acts as a boon for MATIC enthusiasts. Notably, Martinez highlights the TD Sequential, signaling a buying opportunity on MATIC’s daily chart.

In addition, the analyst emphasizes that if MATIC manages to sustain its strength above $0.87, a potential rebound to $0.95 or even $1 is foreseeable. This prediction has injected fresh optimism into the market, bolstering hopes of a resurgence in MATIC’s price trajectory.

Source: Ali Martinez, X

Besides, Martinez’s analysis underscores the importance of technical indicators in forecasting cryptocurrency trends. The TD Sequential, a popular tool among traders, analyzes price action to identify potential buy or sell signals. Precisely, investors can gain insights into market sentiment and make informed decisions regarding their MATIC holdings by leveraging such indicators.

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Price Movements Amid Speculations

Despite the recent price dip, the overall sentiment surrounding Polygon remains cautiously optimistic. Investors are closely monitoring price movements and technical signals, awaiting confirmation of a potential uptrend toward the $1 mark.

Meanwhile, the recent introduction of cdk-erigon and ongoing developments within the Polygon ecosystem continues to garner attention, reflecting the growing interest in MATIC’s utility and potential for future growth. In addition, with technical indicators pointing towards a bullish outlook, investors remain hopeful for a resurgence in MATIC’s value.

However, investors need to conduct thorough research and consider various factors before making investment decisions in the volatile cryptocurrency market.

Meanwhile, as of writing, the MATIC price was down 1.77% and traded at $0.8814, while its trading volume fell 2.55% to $270.88 million. Notably, the crypto fell over 22% in the last 30 days, while noting a weekly loss of around 11%. In addition, the Polygon RSI was at 36.73, suggesting a bullish condition for the crypto.

Polygon (MATIC) Price Chart

Also Read: VanEck Advisor Urges Policymakers To Crackdown On Banks For Anti-Crypto Crusade

The post MATIC Price To Hit $1, Analyst Predicts Citing Technical Indicators appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am