Crypto analyst Ali Martinez believes Polygon (MATIC) is set for a significant rally despite the recent market correction.
Buy Signal on the Horizon
According to Martinez, MATIC’s daily chart shows a “textbook buy signal” using the TD Sequential technical analysis. This indicator presents a red nine candlestick, indicating the start of a potential price reversal.
Support and Resistance Levels
MATIC has found support at $0.8733 and is showing signs of a bounce to the upside. If it stays above this level, it could trigger a move towards $0.95 and $1.
Polygon’s Future Outlook
Polygon is undergoing changes, including an upgrade to Polygon 2.0 and a switch to the POL token. These developments could impact MATIC’s price trajectory. However, if the technical indicators hold true and the crypto market regains momentum, MATIC could rally above $1 again.
Current Price Action
Since Martinez’s analysis, MATIC has risen to $0.9048, indicating a 3.6% increase from the support level. It remains 29% below its yearly high of $1.2751.
