{"id":565680,"date":"2023-12-16T22:00:16","date_gmt":"2023-12-16T22:00:16","guid":{"rendered":"https:\/\/www.wncen.com\/?p=565680"},"modified":"2023-12-16T19:17:18","modified_gmt":"2023-12-16T19:17:18","slug":"polygon-matic-price-50-rally","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/matic\/polygon-matic-price-50-rally\/","title":{"rendered":"Polygon (MATIC) Price Faces Crucial Turning Point That Could Trigger 50% Rally, Analyst Says"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/polygon-matic-headed-to-1-82\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Polygon (MATIC)<\/span><\/a><span style=\"font-weight: 400\"> is the altcoin in focus this time around as an analyst provides an analysis of the crypto token. Based on this analysis, there is a feeling that things could soon begin to <\/span><a href=\"https:\/\/bitcoinist.com\/polygon-matic-headed-to-1-82\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">look up for MATIC<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2>Polygon Could See Significant Rally Soon<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=8k5zLgIjPjA\" rel=\"nofollow\"><span style=\"font-weight: 400\">video<\/span><\/a><span style=\"font-weight: 400\"> shared on the Cheeky Crypto YouTube Channel, crypto analyst JB noted that MATIC has <\/span><a href=\"https:\/\/www.wncen.com\/matic\/crypto-analyst-predicts-100-price-surge-for-matic-heres-what-needs-to-happen\/\"><span style=\"font-weight: 400\">declined following Bitcoin\u2019s pullback<\/span><\/a><span style=\"font-weight: 400\">. However, this move is unexpected as he believes that the crypto token\u2019s decline to the particular retracement area sets it up nicely for an upward move. Based on his projection, MATIC could rise to between $0.87 and $1.36.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/news\/bitcoin\/bitwise-reveals-two-major-triggers-that-will-send-bitcoin-price-to-80000\/\">Bitwise Reveals Two Major Triggers That Will Send Bitcoin Price To $80,000<\/a><\/div>\n<p><span style=\"font-weight: 400\">JB also factored in other things that could suggest that an upward move is imminent. He alluded to the stochastic level, which had initially suggested an overbought condition. However, it has sharply corrected <\/span><a href=\"https:\/\/www.wncen.com\/analysis\/matic-analysis\/matic-price-prediction-polygon-down-0-728\/\"><span style=\"font-weight: 400\">indicating<\/span><\/a><span style=\"font-weight: 400\"> that there could be another push to the upside for MATIC. On the other hand, the crypto analyst was also wary of factors that could spell a move to the downside.<\/span><\/p>\n<p><span style=\"font-weight: 400\">One of them happens to be the volumes that are seen across various cryptocurrencies. JB stated the current volumes aren\u2019t great, and this has weakened the prices of these crypto tokens. This could potentially hinder any projection of an upward move. Another is the possibility of MATIC losing the cross above the 200 EMA, as this suggests that a dump is imminent.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Earlier in the video, JB had also emphasized the <\/span><a href=\"https:\/\/bitcoinist.com\/bullish-or-bearish-bitcoin-price-elliott-wave\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">5-wave pattern<\/span><\/a><span style=\"font-weight: 400\"> that was forming on different timeframes on the MATIC chart. The analyst seemed uncertain about whether or not the fifth wave was just forming. He noted that a push above $94.5 would suggest that the last wave is still to come. There is also the possibility that it could just be an A, B, and C pattern.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/iBLQHavH\/\" alt=\"Polygon MATIC price chart from Tradingview.com\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">Polygon price makes its way above $0.85 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">MATICUSD on Tradingview.com<\/a><\/pre>\n<h2>MATIC To $100 Still Possible<\/h2>\n<p><span style=\"font-weight: 400\">Still analyzing MATIC\u2019s price pattern on the charts, JB mentioned that he was <\/span><a href=\"https:\/\/www.wncen.com\/matic\/polygon-whales-120-million-matic-buying-rally\/\"><span style=\"font-weight: 400\">still bullish<\/span><\/a><span style=\"font-weight: 400\"> on the crypto token ahead of the <\/span><a href=\"https:\/\/bitcoinist.com\/another-bull-run-is-close\/#:~:text=This%20Crypto%20Founder%20Believes%20Another%20Bitcoin%20Bull%20Run%20Is%20Close%2C%20Here's%20Why,-by%20Scott%20Matherson&amp;text=Several%20crypto%20analysts%20have%20continued,next%20bull%20run%20will%20occur.\" rel=\"nofollow\"><span style=\"font-weight: 400\">imminent bull market<\/span><\/a><span style=\"font-weight: 400\">. He had previously mentioned a target of $100 for MATIC in the next bull run, and he is still standing by the projection. In fact, JB noted that a new structure forming on the charts suggests that the crypto token could rise higher than that.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.wncen.com\/news\/analyst-predicts-xrp-price-will-rise-800-to-5-5-the-timeframe-will-shock-you\/\">Analyst Predicts XRP Price Will Rise 800% To $5.5 \u2013 The Timeframe Will Shock You<\/a><\/div>\n<p><span style=\"font-weight: 400\">As part of this prediction, he sees MATIC being a \u201cpowerhouse\u201d in the bull run and being one of the standout altcoins. One of the factors that he believes will contribute to MATIC\u2019s dominance is the potential approval of the <\/span><a href=\"https:\/\/btcpolitan.com\/blackrock-files-for-spot-ethereum-etf-with-sec\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">pending Ethereum Spot ETF applications<\/span><\/a><span style=\"font-weight: 400\">. He believes that the crypto token could be a huge beneficiary, considering its role in the Ethereum ecosystem.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, MATIC is trading at around $0.85, down over 1%, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Admiral Markets, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Polygon (MATIC) is the altcoin in focus this time around as an analyst provides an analysis of the crypto token. Based on this analysis, there is a feeling that things could soon begin to look up for MATIC. Polygon Could See Significant Rally Soon In a video shared on the Cheeky Crypto YouTube Channel, crypto analyst JB noted that MATIC has declined following Bitcoin\u2019s pullback. However, this move is unexpected as he believes that the crypto token\u2019s decline to the particular retracement area sets it up nicely for an upward move. Based on his projection, MATIC could rise to between $0.87 and $1.36. Related Reading: Bitwise Reveals Two Major Triggers That Will Send Bitcoin Price To $80,000 JB also factored in other things that could suggest that an upward move is imminent. He alluded to the stochastic level, which had initially suggested an overbought condition. However, it has sharply corrected indicating that there could be another push to the upside for MATIC. On the other hand, the crypto analyst was also wary of factors that could spell a move to the downside. One of them happens to be the volumes that are seen across various cryptocurrencies. JB stated the current volumes aren\u2019t great, and this has weakened the prices of these crypto tokens. This could potentially hinder any projection of an upward move. Another is the possibility of MATIC losing the cross above the 200 EMA, as this suggests that a dump is imminent.\u00a0 Earlier in the video, JB had also emphasized the 5-wave pattern that was forming on different timeframes on the MATIC chart. The analyst seemed uncertain about whether or not the fifth wave was just forming. He noted that a push above $94.5 would suggest that the last wave is still to come. There is also the possibility that it could just be an A, B, and C pattern.\u00a0 Polygon price makes its way above $0.85 | Source: MATICUSD on Tradingview.com MATIC To $100 Still Possible Still analyzing MATIC\u2019s price pattern on the charts, JB mentioned that he was still bullish on the crypto token ahead of the imminent bull market. He had previously mentioned a target of $100 for MATIC in the next bull run, and he is still standing by the projection. In fact, JB noted that a new structure forming on the charts suggests that the crypto token could rise higher than that.\u00a0 Related Reading: Analyst Predicts XRP Price Will Rise 800% To $5.5 \u2013 The Timeframe Will Shock You As part of this prediction, he sees MATIC being a \u201cpowerhouse\u201d in the bull run and being one of the standout altcoins. One of the factors that he believes will contribute to MATIC\u2019s dominance is the potential approval of the pending Ethereum Spot ETF applications. He believes that the crypto token could be a huge beneficiary, considering its role in the Ethereum ecosystem.\u00a0 At the time of writing, MATIC is trading at around $0.85, down over 1%, according to data from CoinMarketCap. Featured image from Admiral Markets, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":565681,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86487],"tags":[167,6664,26263,14690,40670,89524,86442,76656,79614,83584,89525,86440],"class_list":["post-565680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matic","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-matic","tag-matic-news","tag-matic-price","tag-maticusd","tag-maticusdt","tag-polygon","tag-polygon-news","tag-polygon-price"],"acf":[],"yoast_head":"\n<title>Polygon (MATIC) Price Faces Crucial Turning Point That Could Trigger 50% Rally, Analyst Says<\/title>\n<meta name=\"description\" content=\"Polygon (MATIC) is the altcoin in focus this time around as an analyst provides 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