Is MATIC Ready to Charge into a Bullish Frenzy?

Crypto analyst @X, also known as Patel, is predicting a bullish frenzy for MATIC. Despite recent underperformance, he believes the token is ready to charge upward. Pointing to a bullish pennant on the higher time frame, Patel anticipates a significant surge in the coming weeks. The convergence of trendlines suggests a potential breakout and continuation of the uptrend. MATIC investors may soon witness a bullish charge as the token appears poised for a bullish rally.

Is MATIC Poised for a Bull Run?

Crypto Patel, a digital asset analyst known as @X on Twitter, has shared a bullish prediction for MATIC's price movement in the coming weeks. Despite MATIC's recent underperformance, Patel believes that the token is poised for a significant surge.

MATIC's Bullish Pennant

Patel points to the formation of a bullish pennant, a price pattern that typically follows an upward trend followed by consolidation. The convergence of trendlines indicates a potential breakout and continuation of the uptrend. Importantly, Patel notes that the bullish pennant is forming on a higher time frame (HTF), such as the weekly chart.

Historical Trends

Patel draws parallels to MATIC's performance in 2021, when it experienced a 100x price increase following the breakout of a bullish flag. Based on this historical precedent, Patel suggests that MATIC could experience a similar surge in the upcoming crypto bull run.

Short-Term Targets

Focusing on short-term targets, Patel believes that MATIC reaching the $1.20 price zone on the HTF could trigger a surge to a range of $10-$15. This represents a potential 1500% gain on the asset's current price.

Potential Drawbacks

While Patel is bullish on MATIC's long-term prospects, he acknowledges the possibility of an unexpected market crash. In such a scenario, Patel expects MATIC to be affected but should find support around the $0.60-$0.70 price zone.

Current Market Overview

At the time of writing, MATIC trades around $0.9817, having gained 1.30% in the last 24 hours. The token's daily trading volume has declined by 31.82% and is valued at $291.65 million. With a market cap value of $9.7 billion, MATIC remains one of the world's most prominent digital assets.

Disclaimer

This article is provided for educational purposes only and does not constitute investment advice. Investing carries risks, and you should always conduct your own research before making any investment decisions.