Learn about the latest trends in the cryptocurrency market.
Analyst #Ali Martinez detected a buy signal in #MATIC , pushing the asset towards the $1 mark.
The analyst noted that MATIC needs to stay above $0.87 to achieve a 15 percent upside.
MATIC has collapsed more than 24% since last year, while its peers are posting double-digit growth.
#BNB (MATIC) may have outperformed the current bull market, but renowned analyst Ali Martinez believes the asset could once again reach the $1 level. MATIC stock has fallen 4% in the past 24 hours and another 13% in seven days.
Meanwhile, the bearish stance is not limited to Polygon, as the entire market has collapsed in recent days. However, over the past 24 hours, the #cryptocurrency market has rallied, with #bitcoin hitting $69,291 and MATIC showing signs of recovery but falling back into bearish territory, wiping out any recent gains.
Nevertheless, analysts such as Martinez believe that the recent bearish momentum represents an opportunity for interested investors to enter the MATIC market. In a recent tweet, this analyst stated that he spotted a buy signal on MATIC using the TD Sequential Indicator. Mr. Martinez noticed the signal on an established daily candle of MATIC.
The analyst emphasized that it is important for MATIC to stay above the base price of $0.87, given the possibility of a jump to $0.95. In addition, Mr. Martinez stated that among the recently identified buying opportunities, an ambitious target for MATIC is $1. A rise from the current price to $1 would require an increase of only 15%.
Notably, MATIC has been lagging the broader bull market trend since last year - its highest price since April 2023 was $1.2714, which it reached in the middle of last month. However, bearish forces have dominated the market and it has been unable to defend that price point.
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