Polygon (MATIC) Turns Bullish After Losing Streak – Is A 1,000% Rally Possible From Here?

Polygon (MATIC) is again flashing bullish signals, having maintained a bearish outlook for a while now. These bullish signals suggest that the token could soon make a significant move to the upside. Interestingly, crypto analyst World of Charts has predicted that Polygon could enjoy a 1,000% rally when this move happens. World of Charts predicted in an X (formerly Twitter) post that Polygon could rise to between $4 and $5 in the midterm. He made this prediction while stating that this might be the last chance to accumulate MATIC before the solid bullish wave, which he expects to happen soon enough. He suggested that this move for Polygon could occur during the imminent altcoin season. Interestingly, the crypto analyst expects Polygon to rise much higher than $5 in the long term. From the chart he shared, he hinted at the crypto token rising to as high as $40 by year-end or sometime in 2025. Meanwhile, he stated that a price between $10 and $12 was an “easy target” for MATIC.

Data from the market intelligence platform IntoTheBlock shows that most of Polygon’s on-chain metrics are bullish, which could help contribute to the crypto token’s move to the upside. One of these metrics is the large transactions, which have been on the rise recently, suggesting that crypto whales are actively accumulating the crypto token.

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