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Polygon’s price surged by over 23% in the last 24 hours, reaching $1.07 as of 4:30 AM EST, while its daily trading volume skyrocketed by 180%, climbing up to $2.28 billion.
Polygon has seen an even more significant 37% price increase every week, which took it from $0.77 on December 20 to its current price of $1.07. However, experts believe that the coin still has room to grow.
Analysts have noted that Polygon’s native coin, MATIC, surged past the $1 level while the rest of the crypto market came under intense selling pressure.
They also believe that if MATIC managed to sustain the current level, it could go up to $1.10. The coin can even gear up for another 70% rally in this scenario.
In this case, its next big goal after $1.10 would be $1.73. The predictions suggest a relatively optimistic outlook for Polygon, with potential solid bullish momentum.
Polygon Price Forecast
MATIC price has sharply risen over the past several days after trading within the symmetrical triangle following its breakout from a range between $0.50 and $0.60.
However, its recent behavior suggests that it might be breaking out from the pattern. Some believe the coin could pave the way for a significant upward move if it achieves a sustained weekly candlestick close above the $0.96 mark.
The coin could reach $1.73 in this scenario, as mentioned earlier. Some technical indicators suggest that the coin’s bull run will continue for a while and maybe even get more robust.
Recent developments in Polygon’s MATIC project have led to a notable expansion of the Bollinger Bands, a technical indicator often associated with strong bullish signals. However, a contrasting perspective emerges from the Relative Strength Index (RSI) score, which suggests that the coin might be veering into oversold territory.
This mixed signal has sparked speculation among market observers. While some anticipate a potential sell-off in the near future, the timing and likelihood of this remain uncertain.
Looking ahead, current market trends and technical indicators collectively hint at an impending rally for MATIC. Analysts project that in the bull market expected in 2024, MATIC’s price could oscillate between $0.90 and $1.10. This forecast holds even if the project doesn’t manage to break beyond this price range, indicating a steady yet cautious optimism about MATIC’s performance.
Promising Alternative To Polygon
Bitcoin Minetrix (BTCMTX) is currently one of the best alternatives to Polygon. Despite Polygon’s massive price increase and the expected surge, BTCMTX is expected to see even more significant gains once it goes live.
The project is still in its presale, which has already raised over $6.3 million. Its token, BTCMTX, is now selling for $0.0125. You can buy it via credit or debit card or get it in exchange for ETH or USDT.
Bitcoin Minetrix is a cloud mining platform that allows users to mine Bitcoin without buying any expensive mining gear or paying thousands of dollars for electricity bills.
The project requires users to buy its native token and then stake it. In return, they receive credits, which are used to mine BTC.
#BitcoinMinetrix represents a tokenized cloud mining setup, allowing everyday users to engage in decentralized $BTC mining.⚒️
This platform minimizes third-party cloud mining risks, providing complete operational independence.🔒 pic.twitter.com/oBifdpkYFa
— Bitcoinminetrix (@bitcoinminetrix) December 23, 2023
With the upcoming Bitcoin block rewards halving, mining is at an all-time high, which makes it impossible for regular people to mine it on their own, except through cloud mining.
However, with numerous fraudulent cloud mining platforms that have emerged in the past, it is understandable why many might be hesitant to join a new one.
This is why Bitcoin Minetrix ensures that it is fully decentralized and transparent and that users will always be in control of their funds.
This is also why the project’s token is expected to see a high surge in value, which will mirror the expected demand post-launch.
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