- The analyst believes the TD Sequential on MATIC’s chart presented a buy signal.
- At press time, MATIC’s price was down 1.36% and hovered around $0.857.
Yesterday, popular crypto analyst Ali Charts took to Twitter to share intriguing insights on the potential trajectory of Polygon’s (MATIC) price in the near future. According to Ali’s post, the TD Sequential on MATIC’s 3-day chart had presented a buy signal, signaling a favorable outlook.
Furthermore, Ali conveyed a sense of optimism, indicating a potential surge in the price of this altcoin to remarkable heights. According to his analysis, MATIC could potentially reach as high as $0.94 or even soar to $1.05 in the days ahead.
Significantly, the TD Sequential tool holds immense importance as it can accurately determine the timing of trend exhaustion or reversal. However, recent data from CoinMarketCap, a prominent crypto market tracking website, revealed that MATIC, like many other cryptocurrencies, experienced a price decline in the past day of trading.
At press time, MATIC had dropped by 1.36% in the previous 24 hours, hovering around $0.857, which is in close proximity to its daily low of $0.851. Consequently, this price decrease caused MATIC to weaken against Bitcoin (BTC) and Ethereum (ETH), the market leaders, by approximately 0.35% and 0.59%, respectively.
Moreover, this downward movement in MATIC’s price contributed to a further decline in its weekly performance, which was down 4.35% over the past seven days. Additionally, MATIC’s 24-hour trading volume witnessed a decrease of more than 7% during the same period and was standing at approximately $297,366,842.
With a market capitalization of $7,925,842,230, MATIC was in the 10th position in terms of market capitalization. As a result, it stood just behind Solana (SOL) in 9th place and ahead of Litecoin (LTC) at the eleventh spot.
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