The News Crypto -
- Polygon (MATIC) has been quiet but is showing signs of a potential surge, despite overall market instability.
- Previous calm periods of consolidation in MATIC’s price action have led to significant breakouts.
- MATIC has achieved a 10x increase in value after similar patterns in the past.
Polygon (MATIC) has been under the radar for many months, even amidst wider market turbulence. However, while some perceive that as fading bullish strength spelling bigger declines, the price action seems to actually be setting the stage for an imminent explosion higher.
The last time MATIC traded this calmly in a tight consolidation, it wound up breaking out vertically to erase multiple zeros off its value. Now, with a massive 10x already under its belt since then, another extended technical triangle suggests history could soon repeat itself.
MATIC surged as high as $2.92 during last year’s spectacular run after breaking out in similar fashion. And after correcting back below $1 recently, the signs are emerging of another violent leg up building momentum.
MATIC looks poised for a rally
Having broken out of symmetrical triangle resistance last week, MATIC continues to hold firmly above its overhead zone so far. This constructive price development, despite still-present bearish pressures in the market, underscores stealthy accumulation happening before the next markup.
Similar to how it consolidated horizontally for months in a triangle pattern prior to its original 2021 eruption, MATIC appears once more to be approaching the end of this formation now. As analysts observe, this could be the precursor to similar 10x ignitions awaiting the next confirmed breakout.
Much like how rebranding from Matic Network to Polygon preceded its previous face-melting advance, the ecosystem’s new token migration rollout may provide the necessary catalyst this time as well. With MATIC converting to native POLS tokens, a vast activity influx should flow into the network, dramatically impacting valuations.
If MATIC can sustain over 96 cents through the daily close, analysts initially eye $1.50–$1.70 in short order. But from there, only minimal remaining overhead resistance separates prices from fresh all-time highs above $3. So the opportunity is emerging for savvy crypto investors to position early before FOMO kicks into high gear.