Breaking Resistance: Analyst Anticipates MATIC Surge – Here's Why

Polygon's MATIC token might see a significant surge, suggests a crypto analyst, contingent upon overcoming a crucial resistance at $1.34.

Extreme price volatility is anticipated by Rekt Capital upon breaching this resistance, potentially propelling MATIC above the $2 mark, assuming bullish momentum persists.

Presently trading at $1.25, MATIC has observed a 10% increase over the past week, with on-chain volume indicating a steady rise, surpassing one billion at last check.

Decreased circulation, currently at 32.23 million tokens per day, hints at a potential price appreciation for MATIC, with fewer tokens available for sale.

Active addresses on the Polygon network have surged to 484,000 within a 24-hour span, indicating heightened user interaction, a bullish signal for MATIC's price.

While technical analysis aligns with the potential for a surge, caution is advised as profit-taking could trigger a steep correction. However, current market conditions may limit the duration of any downturn.

Overall, while optimism surrounds MATIC's potential surge, cautious monitoring remains prudent amidst market uncertainties.