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TL;DR
- Polygon (MATIC) skilled a 30% month-to-month worth surge, with analysts predicting additional will increase.
- The surge coincides with a big rise in Polygon’s on-chain buying and selling quantity and different metrics.
Top-of-the-line-performing cryptocurrencies (no less than from the highest 20 record) – Polygon (MATIC) – briefly surpassed the $1 mark this week. Its 30% worth surge on a month-to-month scale has captured the eye of business individuals, with some analysts envisioning an additional rally within the following months.
The favored X (Twitter) consumer Ali claimed that MATIC reveals “promising indicators” to chart spectacular beneficial properties in the long run. He predicted that the asset’s valuation might explode by 90% subsequent month ought to it shut above the $0.96 resistance stage.
#Polygon reveals promising indicators from a long-term perspective. The prevailing sample seems to be a multi-year symmetrical triangle.
If $MATIC can preserve an in depth above $0.96, it might sign the beginning of a bull rally, with a possible goal of $1.73! pic.twitter.com/qjgn6sN1oV
— Ali (@ali_charts) February 21, 2024
MATIC has not dropped beneath the depicted mark since Ali’s forecast, and it’s at present buying and selling at round $0.97 (per CoinGecko’s knowledge).
The content material creator and investor Jake Gagain outlined an much more bullish state of affairs for the token, predicting a worth appreciation to as excessive as $9 by 2025.
MATIC’s most up-to-date spike coincides with a rise in Polygon’s on-chain buying and selling quantity. In keeping with DefiLlama, the determine at present stands at nearly $170 million (a 300% soar in comparison with the numbers noticed on the finish of January).
Polygon has additionally carried out fairly effectively within the non-fungible token discipline, registering an NFT gross sales quantity of roughly $6 million for the previous seven days.
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