Polygon (MATIC) flashes again bullish signals, maintaining bearish forecasts for some time. These bullish signals suggest that the token could make a significant move higher soon. Interestingly, World of Charts cryptocurrency analyst predicted that Polygon could enjoy growth of 1,000% with this move.
The polygon will go up to $5
The world of charts predicted in X (formerly Twitter) post that Polygon could rise to between $4 and $5 in the medium term. He made this prediction while stating that this may be the last chance to accumulate MATIC before a solid bullish wave, which he believes will occur soon. He hinted that this move for Polygon could happen in the near future altcoin season.
Interestingly, the cryptocurrency analyst expects Polygon’s value to rise well above $5 in the long run. From the chart he shared, he suggested that the cryptocurrency token will rise to as much as $40 by the end of the year or sometime in 2025. In the meantime he stated that a price between $10 and $12 was an “easy target” for MATIC.
Data With IntoTheBlock market analysis platform shows that most of Polygon’s on-chain indicators are bullish, which could contribute to the crypto token’s growth. One of these indicators is vast transactions, which have been increasing in number recently, suggesting that crypto whales are actively accumulating the crypto token.
Moreover, Polygon looks well-positioned to enjoy significant growth once a given altcoin season begins, given that Spot Ethereum ETFs This is what is believed to be causing this altcoin bull run. This means growth could start in the Ethereum ecosystem, where Polygon remains one of the most critical Ethereum-based tokens.
Time to turn bullish on the polygon
CrediBUL Crypto cryptocurrency analyst also recently suggested that a bullish retreat is on the horizon. He revealed that he had been missing a crypto token for some time, but said it was almost time to do so reverse bullish on the Polygon. Cryptocurrency analyst Mayor Matic also recently highlighted the wedge pattern on the Polygon i pattern he stated that a break above the wedge will be “powerful”.
Crypt Kaleo cryptocurrency analyst had earlier in March highlighted Polygon and suggested that the crypto token looks well-positioned for this move. Therefore, given the timing of consolidation since then, this parabolic move could happen sooner rather than later. However, it remains to be seen whether MATIK it could go as high as $5, as predicted by World of Charts.
It’s trading at around $0.56 at the time of writing, down more than 2% in the last 24 hours, according to Polygon data. data from CoinMarketCap.
Featured image from Getty Images, chart from TradingView
