![Why Is Polygon (MATIC) Price Up?](https://captainaltcoin.com/wp-content/uploads/2023/06/P2P-Review-34.png)
Crypto analyst Crypto Rover recently tweeted that he believes a major breakout is coming soon for Polygon’s MATIC token. Crypto Rover noted that MATIC is currently his 4th largest portfolio holding and stated “Send it!” regarding the token’s potential.
![](https://captainaltcoin.com/wp-content/uploads/2024/02/image-20-1024x557.png)
Crypto Rover’s accompanying chart analysis shows MATIC trading within a symmetrical triangle pattern, which is descending from the top and ascending from the bottom. As this pattern grows tighter, Crypto Rover expects a significant breakout is close, with the key resistance level around $0.9 on the weekly timeframe.
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Show more +270% Price Spike Possible With Breakout
If MATIC can break through the descending channel resistance around $0.9, Crypto Rover sees a spike to the top of the channel near $2.9 as possible. With MATIC currently trading around $0.78, this would represent an increase of over 270%.
![](https://captainaltcoin.com/wp-content/uploads/2024/02/image-21-1024x480.png)
This bullish outlook is supported by analyst Michaël van de Poppe, who tweeted that the total altcoin market capitalization could climb 50-80% in the next few months. As money continues flowing into the altcoin market, MATIC could benefit significantly if it breaks key overhead resistance levels
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