The Strong Support Provided to Polygon by Bulls and the 100% Price Surge Prediction

MATIC, the crypto token of the Polygon network, has been on a wild run in the past few weeks. To be fair, numerous other altcoins on the market have increased their values. However, despite the positive value performance, MATIC wasn’t able to return to the $1 mark, as it faced a rejection at the $0.9 zone.

Yet, it appears that the tides might be changing for this altcoin following a crypto analyst’s projection. The charts from this analyst are also showing a big purchase of MATIC coins.

Bulls Purchase a Record of $5.8 Billion MATIC Tokens

The well-known crypto analyst recently posted that most MATIC tokens were bought between $0.80 and $0.86. There were 42,000 addresses holding up to $5.8 billion in assets in this crypto coin.

He also stated that according to the minimal resistance that follows, Polygon looks prepared for a bull run. This is true only if this level of around $.80 holds for the time being.

However, it seems like the key support level noted by this crypto analyst held at around $0.80. At the moment, the support forms for Polygon at the key level come with the MATIC value of $0.87.

All of this indicates that the foundation for a potential bull run for Polygon is getting more solid. This crypto coin may be gearing up for a significant upside as long as the bulls can continue with this support.

The Crypto Analyst Predicts a 100% Price Surge

The prominent crypto analyst that we mentioned earlier has put together a bullish projection for the value of MATIC. This projection concerns the price in the near future.

In one of his posts on the X platform, the analyst revealed that the crypto coin could be set for a bullish breakout. He also added that this action could catapult its value to double its current price. This prediction comes from the symmetrical triangle pattern that forms on the Polygon weekly chart.

The MATIC triangular formation has a price point of around $0.96, crossing with the 50% Fibonacci retracement level. This pattern forms the basis of the crypto analyst’s projection. He believes that a daily and weekly candlestick slightly over $0.96 could be the start of a bullish breakout for MATIC.

Additionally, he thinks that a break through this critical price point could send the crypto coin up to $1.82.His projection acts for an approximately 100% surge from the current value point.

At the moment, the MATIC token features a price of $0.8649. It suffered a value decline of 3.67% in the past 24 hours. Furthermore, Polygon ranks 15^th on the list of the largest cryptocurrencies. It has a market cap of over $8 billion.

A specific on-chain data revelation indicates an even better strength to the analysts’ $1.82 projection for this token value. Earlier we mentioned another recent post on X from this crypto analyst. There he revealed that MATIC might be set to go on a bullish run. All of this is positive news for MATIC investors.