Crypto Patel Forecasts Bright Future for MATIC Despite Recent Plunge


Crypto Patel, a digital asset analyst known for his insightful market analyses, recently made a bullish prediction concerning the future trend of MATIC’s price. This noteworthy prediction comes as a welcome suprise, especially given the fact that MATIC has been struggling in these last few days, plummeting by a significant 6.68% over the past week alone, according to data compiled by CoinMarketCap.

MATIC, the native token of Polygon, had previously been enjoying a streak of impressive performance. In the first quarter of 2024, its value shot up an astounding 76.38%. But in recent weeks, concerns have been mounting due to a steep fall in its market value. Over the last two weeks alone, MATIC has suffered a 22.83% decline – a chain of events that has sparked worries and cautious speculation.

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Nevertheless, Crypto Patel remains optimistically convinced that brighter days are ahead for MATIC. Confidently asserting his predictions on the March 23rd post, he outlined a promising outlook for the digital asset, which he christened as the “MATIC BULL RUN ROADMAP.”

In his analysis, Patel pointed out that a bullish pennant – a price pattern that usually signals an upward trajectory after a phase of consolidation – appears to be forming on the radar for MATIC. This insight carries significant weight since the forming of a bullish pennant on a longer-term time frame such as the weekly chart, as is the case with MATIC, often implies a continuation of the preceding uptrend once the price manages to break free from consolidation.

In his preview of historical data, Patel highlighted the enticing possibility of a 100-fold price surge that may ensue, basing this prediction on similar trends witnessed in the bull run of 2021.

Nonetheless, he is adamant about giving attention to short-term targets as well. Patel has ventured to predict that a breach of the $1.20 price on a higher time frame will likely set off a price surge to anywhere between $10 to $15. This implies the prospect of a stunning 1500% increase in the asset’s current price. Furthermore, even if a market crash were to transpire, Patel supposes MATIC will find a safety net within the $0.60 to $0.70 price range.

Moving into present market value, MATIC is currently trading around $0.9817, experiencing a marginal gain of 1.30% in the past day. Its daily trading volume has unfortunately taken a 31.82% dive and currently stands at a value of $291.65 million. Nevertheless, with a market cap of $9.7 billion, MATIC holds its flags high as the 16th largest cryptocurrency and ranks as one of the most notable digital assets on the global stage.