Polygon (MATIC) flashes again bullish signals, after maintaining a bearish outlook for some time. These bullish signals suggest that the token could soon make a significant move upward. Interesting enough, crypto analyst World of Charts has predicted that Polygon could experience a 1,000% rally if this move happens.
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Polygon that can rise to $5
World of graphs predicted in an X (formerly Twitter) after that Polygon could rise to between $4 and $5 in the medium term. He made this prediction while stating that this might be the last chance to accumulate MATIC before the solid bullish wave, which he expects to happen soon enough. He suggested that this move for Polygon could happen during the upcoming altcoin season.
Interestingly, the crypto analyst expects Polygon to rise much higher than $5 in the long term. From the chart he shared, he hinted that the crypto token would rise as high as $40 by the end of the year or sometime in 2025. declared that a price between $10 and $12 was an “easy target” for MATIC.
Facts of the market information platform IntoTheBlock shows that most of Polygon’s on-chain metrics are bullish, which could contribute to the crypto token’s positive movement. One of these metrics is large transactions, which have been on the rise lately, indicating that crypto whales are actively accumulating the crypto token.
Moreover, Polygon seems well positioned to enjoy a significant rally when the given altcoin season kicks off, given that the Discover Ethereum ETFs It is believed that this will trigger the run for altcoins. That means the rally could start in the Ethereum ecosystem, where Polygon remains one of the most prominent Ethereum-based tokens.
Time to turn bullish on polygon
Crypto analyst CrediBUL Crypto also recently suggested that Polygon’s bullish reversal was underway. He revealed that he had been shorting the crypto token for a while, but stated that it was almost time to do so Bullish reversal on Polygon. Crypto analyst Mayor van Matic also recently highlighted a wedge pattern on Polygon’s pattern and declared that the breakout above the wedge will be ‘powerful’.
Crypto analyst Crypt Kaleo had earlier in March marked Polygon’s chart and suggested the crypto token looked well primed for that move. Considering how long it has consolidated since then, this parabolic move could happen sooner rather than later. However, it remains to be seen whether MATIC could go as high as $5, as World of Charts predicted.
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At the time of writing, Polygon is trading around $0.56, down more than 2% in the past 24 hours, according to facts from CoinMarketCap.
Featured image from Getty Images, chart from TradingView