Polygon’s MATIC Primed for 900% Spike Following Multi-Year Breakout as ’History Will Repeat Itself’
Polygon’s native crypto asset MATIC appears poised for a major multi-year breakout that could see its price skyrocket over 900% to above $10, according to recent analysis from crypto experts. With MATIC trading around $0.97 at the time of this writing, technical patterns suggest a rally mirroring its historical price action in 2021 is forthcoming.
Breaking Out After Consolidation
According to crypto analyst Captain Faibik, MATIC is ready to pump hard and repeat the massive historical price gains seen in early 2021. Back then, MATIC surged from around $0.01 after breaking out from consolidation, kicking off a sustained rally that peaked in early 2022 at an all-time high near $2.90 – a 29,000% gain from $.01.
Captain Faibik believes MATIC consolidating for over a year presents a similar opportunity, with a breakout signaling the start of a new bull run. Given MATIC’s history, he expects an even larger pump this time, with prices reaching $10 in 2025 – over 900% above the current $0.97 level.
Closing Above Key Level
Fellow analyst Ali also sees bullish signs for MATIC from a long-term technical perspective. He points to a multi-year symmetrical triangle formation that could be on the cusp of a decisive breakout. In Ali’s view, a daily close above the key resistance level of $0.96 would confirm the start of a new uptrend.
Ali’s first upside target from there is $1.73. However, based on MATIC’s historical price action and tendency for massive moves out of long consolidations, Captain Faibik sees far greater upside on the horizon.
Multi-Year Breakout Could Fuel Rally to New Highs
The confluence of optimistic technical analysis and MATIC’s historical tendency for explosive growth after consolidation periods suggests significant upside potential lies ahead. Given the patterns and bullish indicators, MATIC appears primed for a multi-year breakout that could ultimately send its price well above $10, dwarfing previous all-time highs. With MATIC poised at a critical long-term juncture near $1, analysts say conditions are ripe for history to repeat itself in epic fashion.
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