Polygon (MATIC) could see a rally to $7.64, according to top technical analyst Alan Santana on TradingView. Santana’s prediction is based on historical market cycles and current technical indicators.
He points out that a recent spike in bearish volume on August 5th signals a potential bullish reversal for MATIC. Similar volume patterns in the past have led to price surges, strengthening his positive outlook for the asset.
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Key to Maximizing MATIC’s Gains
Santana compares current market conditions to corrections in June 2023 and May 2022. This is where a spike in bearish volume was followed by a brief price drop and then a strong recovery.
He believes MATIC is now entering a critical accumulation phase, which presents a prime opportunity for long-term growth. According to Santana, this phase could set the stage for MATIC to reach new highs.
Strategic Buying and Holding for Long-Term Success
Santana recommends a straightforward strategy: buy MATIC throughout 2024 and hold for 8-16 months. He suggests this period may coincide with the next bull market’s peak, offering returns.
“Buy and hold with a focus on sustained long-term growth,” Santana advises. He encourages investors to accumulate MATIC during this “accumulation zone” and to be patient and disciplined. Knowing when to buy and sell is crucial, he emphasizes.
Santana’s ambitious target of $7.64 represents a new high for MATIC. He notes that once MATIC’s price begins to rise, investors can sell at any profitable point without needing to aim for the absolute peak.
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Conclusion
Alan Santana’s analysis offers a clear roadmap for investors looking to benefit from Polygon’s potential rally. By understanding market cycles and following a disciplined buying strategy, investors could see gains as MATIC approaches its projected target of $7.64.
Hence, Santana’s insights underline the importance of strategic accumulation and long-term planning in crypto trading.
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