MATIC Price To Hit $1, Analyst Predicts Citing Technical Indicators

Highlights

Despite a minor dip, bullish forecasts predict MATIC's surge to $1.
A prominent crypto market analyst highlights promising technical indicators for MATIC's rebound.
The MATIC's RSI also suggests a bullish picture ahead for the crypto.

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.

Polygon Price Chart — 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.

Also Read: Can Ethena Backing USDe With Bitcoin Crash Market Like Terra-LUNA?

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.

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

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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