According to a recent analysis from renowned crypto analyst Michaël van de Poppe, the CEO and Founder of MN Trading, Polygon (MATIC) is poised for another upward push in the market. Despite facing recent underperformance, van de Poppe suggests that higher timeframe support levels have held firm, and liquidity has been absorbed.
Van de Poppe’s insights come at a critical time for Polygon investors, as the market has witnessed fluctuations and uncertainties in recent weeks. Many eyes are now turning to MATIC, and van de Poppe’s analysis aims to provide clarity on the potential trajectory of this popular cryptocurrency.
One key factor contributing to the optimism surrounding MATIC is the resilience of higher timeframe support levels. In the face of market volatility, these support levels have proven robust, instilling confidence among traders and investors. The ability of MATIC to maintain its support levels suggests a strong foundation for further growth.
Liquidity absorption is another crucial aspect highlighted by van de Poppe. The successful absorption of liquidity often signifies the presence of strategic buyers, indicating a favorable environment for price appreciation. It could be indicative of a potential shift in sentiment and a renewed interest in MATIC.
While acknowledging MATIC’s recent underperformance, van de Poppe remains optimistic about its future prospects. The analyst anticipates another upward push in the near term, providing hope for investors who may have experienced some turbulence in recent market conditions.
Van de Poppe has set his sights on a specific price range for MATIC’s next rally, suggesting that it could reach the $1.25 to $1.50 region. This projection, if realized, would mark a significant surge from the current levels and potentially bring about a renewed bullish sentiment for Polygon.
Unprecedented Drop In Polygon (MATIC) Price
The recent performance of MATIC has been notably flat compared to some of its counterparts in the crypto space. While mega-cap altcoins like Solana (SOL) experienced triple-digit quarterly gains in the fourth quarter of 2023, MATIC failed to reclaim a new yearly peak by the year’s close.
As of the latest data, Polygon (MATIC) is trading at $0.789544, with a 24-hour trading volume of $269 million. Over the last 24 hours, MATIC has experienced a 1.68% decrease, but it has shown a 1.46% increase in the weekly chart. In the CoinMarketCap rankings, Polygon holds the 14th position, boasting a market cap of $7 billion.
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