Posted 1/3/2024, 10:15:00 AM
Polygon Breaks Key Resistance, Analysts Eye Further Upside Toward $1.15
- Polygon (MATIC) price finally closed above long-term descending resistance trendline that had been in place since Dec 2021 ATH
- Breakout hasn't accelerated upward momentum yet, but indicators like weekly RSI are bullish
- Analysts have bullish outlook due to technical patterns, with targets around $1.15 and new ATH
- Daily chart shows bullish breakout from symmetrical triangle, supporting move to $1.55 resistance
- Close below $0.95 would invalidate breakout, potentially causing 25% drop to $0.75 support