According to cryptocurrency analyst Ali Martinez, POL (formerly MATIC, now called Polygon) is expected to experience a massive 6,000% rise in value. Martinez believes that the low proportion of Polygon holders in profit (only 15.11%) indicates that there is unlikely to be significant selling pressure, as investors are unlikely to try and book profits. Additionally, recent on-chain metrics suggest that new traders are building their positions in POL, with whales buying large amounts of the token. Martinez concludes that if POL can sustain a close above $0.7973, there is a strong likelihood of a rally towards $36.17, which is 6,000% above its current value. However, it is important to maintain stop loss orders and be cautious, as dropping below the critical support wall between $0.375 and $0.386 would prompt an exit from the trade.
- Content Editor ( finbold.com )
- 2024-11-25
Polygon set for 6,000% rally to $36, crypto expert reveals