Indeed a good week for Polygon holders across the globe. The MATIC price has witnessed a massively bullish flow on the charts strongly predicting another rally. This is an important time for MATIC traders to carefully understand what’s happening. The MATIC price is consolidating in the current picture. While this may be valid, let it not fool you into thinking that the MATIC price rally is over. Polygon has been quite in the news over the past few days owing to its bullish progress. Closing it right on the face of October, here we are kicking off the first day of November with the MATIC price prediction. Let’s have a look.
67% Price Rally Forecast
MATIC price rally is not over yet as Polygon has formed a bull pennant pattern on the daily chat. This pattern indicates clear chances of a massive rally after slicing above the upper boundary of the October 24 chart pattern. The layer two token may climb another 67% on the charts forming a new all-time high.
Currently, the bulls are securing a strong foothold to make the massive climb on the next trigger. Technically, the prevailing pattern signals a 99% rally towards $3.13 surpassing its record high at $2.69.
MATIC Price Prediction
While the overall picture is quite positive, the Arms Index (TRIN) suggests that there are significantly more sellers in the market as compared to buyers yet. This may result in MATIC price continuing to consolidate and find a reliable support ahead of the $3 climb. Polygon may face substantial resistance at $1.91 while other obstacles can lie at $1.97, and $2.03. That said, the overall price trend is fortunate for MATIC holders for the next few days. Once we move further down the days of this week, we will be able to find out how the price goes further.
Please note that our MATIC price prediction is based on the technical analysis of the crypto experts. We do not offer any financial advice.