Analysts have identified critical chart patterns for Polygon (MATIC) and Reserve Rights (RSR), suggesting imminent bullish movements. Both tokens have shown signs of potential price breakouts. 

Moreover, the experts highlighted key resistance levels, indicating possible price rallies. Consequently, these developments could indicate a major shift in the market dynamics for MATIC and RSR.

Reserve Rights (RSR) Nears Breakout

ZAYK Charts, a top analyst, highlighted the potential of a bullish breakout for Reserve Rights (RSR). In a tweet, ZAYK pointed out the formation of a falling wedge pattern on the daily timeframe. This pattern is typically bullish and suggests a weakening of the downtrend. 

$RSR Falling Wedge Formation in 1D TimeframeIncase of Breakout,Expecting 80-100% Bullish Wave#RSR #RSRUSDT #Crypto pic.twitter.com/UmZyZITJO3

— ZAYK Charts (@ZAYKCharts) August 20, 2024

The chart shows that RSR is moving toward the upper boundary of the wedge, signaling the possibility of a price rally. ZAYK predicts an “80-100% Bullish Wave” upon a breakout, targeting an upward movement based on the wedge’s height. 

If the price successfully breaks through the upper trend line, RSR could experience a substantial rise.

Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT

Meet PandaWorld, the new meme coin currently selling at discounted presale prices! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.

Show more +Show less – Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT

Meet PandaWorld, the new meme coin currently selling at discounted presale prices! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.

Show more +Show less –

Read also: MATIC Holders Might Need to Act Fast Amid Polygon’s New Upgrade

Polygon (MATIC) Primed for a Rally

World Of Charts, another top analyst, has focused on MATIC. After undergoing a massive correction, MATIC appears ready for a breakout from a falling channel pattern. This pattern, characterized by parallel downtrend lines, indicates a bearish trend. 

However, World Of Charts suggests that MATIC is nearing a reversal. The analyst notes that a breakout from the upper trend line could push the price toward $1.00. 

Moreover, this would represent a potential gain of approximately 143% from the breakout level. The recent slight bullish rebound supports the possibility of this upward move.

$MaticFinally Looks Ready For Breakout After Massive Correction #Matic Offering Very Good Buying Opportunity For Midterm Incase Of Successful Breakout Expecting Move Towards 1$ pic.twitter.com/UqflZnV8TY

— World Of Charts (@WorldOfCharts1) August 20, 2024

What to Watch

Both MATIC and RSR are approaching critical levels that could determine their near-term price trajectories. For RSR, the key factor will be whether it can break out of the falling wedge with increased volume, confirming the bullish wave predicted by ZAYK Charts. 

Similarly, MATIC’s future hinges on its ability to break out of the falling channel, potentially leading to a sharp rise toward $1.00. Monitoring these tokens for signs of a confirmed breakout, could signal opportunities for midterm gains.

Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.

We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.

The post Polygon (MATIC) and Reserve Rights (RSR) Signal Potential Price Breakout: What To Watch appeared first on CaptainAltcoin.