THE MATIC the price has increased rapidly, making it one of the top gainers in the last day. But even after such growth, crypto analysts believe that the main event is just beginning, expecting the token to cross the $1 mark again and surpass $1.5.
MATIC Price Could Surge 76% to $1.5
Crypto analyst Babenski presented a scenario where the MATIC price could rise above $1.5. The token has seen investors eagerly awaiting its return and it is expected to be glorious. As the analyst points out, the Polygon Native Token is still facing some resistance, but a break above $0.9 would trigger a surge.
The analyst explains that the price is being held but is trying to exit the A&V model. Even the fact that altcoin trying to break out of this trend is bullish and a complete breakout could see it rise and cross the coveted $1 level.
Furthermore, this breakout could see the price increase by up to 76%, as Babenski notes. Such a rise would take MATIC above $1.5. If this happens, it will be the first time in almost a year that the MATIC the price has crossed this level and could signal the start of another bull rally.
Maintain a bullish outlook
In addition to Babenki, another cryptocurrency analyst took to TradingView to share his own bullish outlook on the market. MATIC price. This time, Nathan from MyCryptoParadise presents his analysis showing that MATIC appears to have a well-executed bottom rounding model.
Then using the daily candle, the analyst predicted a potential break with its current supply area. “A successful breakthrough would pave the way for MATIC to likely progress towards our targeted supply area,” Nathan said. The result and expected peak from this breakout, while lower than Babenski’s forecast, also places the price above $1.1.
However, the road is not entirely easy for the MATIC price here. Indeed, the analyst claims that if the altcoin encounters difficulty breaking the supply zone, then this could trigger a downtrend. This would cause the price to drop and head towards demand at $0.69.
“The undesirable scenario occurs if, when retesting the demand of $0.69, MATIC has difficulty maintaining its position and crosses the demand zone,” explains Nathan. “In this case, MATIC would return to a bearish move, potentially returning to the robust support zone.
MATIC recovers to $0.93 | Source: MATICUSD on Tradingview.com
Featured image from Daily Hodl, chart from Tradingview.com