Long-Term Outlook
Crypto trader Ali Martinez is optimistic about the future of Polygon (MATIC), an Ethereum (ETH) scaling crypto project. He believes MATIC could appreciate by around 77% to a price last reached in February 2022 if a major support level holds.
Martinez sees promising signs for MATIC from a long-term perspective. He identifies a multi-year symmetrical triangle pattern, suggesting a potential bull rally. If MATIC can maintain a close above $0.96, it could signal the start of this rally, with a potential target of $1.73.
Bitcoin (BTC) Whales Accumulating
Martinez also analyzed the behavior of Bitcoin (BTC) whales, the largest holders of the cryptocurrency. He found that these whales are currently accumulating BTC, indicating a positive outlook among major holders. This pattern is typical of bull markets, suggesting confidence in the market’s potential for further gains.
Current Prices
At the time of writing, Polygon (MATIC) is trading at $0.977, up by around 38% over the past four weeks. Bitcoin (BTC) is trading at $51,647.
Disclaimer
The opinions expressed in this article are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.
