Polygons Matic is ready to reach again every time

The central theses

• The Matic token of Polygon seems to be controlled to $ 1.63.
• breaking through this level of resistance would probably trigger a new bull run.
• The courses have to remain over 1.24 $ 1 so that the bullish outlook prevails.

The Matic token of Polygon seems to be ready to continue its upward trend, since the prices form a massive upward pattern and whales accumulate millions of tokens.

Matic is preparing for new Bull Run

Polygon shows an impressively optimistic outlook. The MATIC token of the scaling solution seems to have developed a head-shoulder pattern on his daily chart since the beginning of June. The token is currently the right shoulder of the bullish formation. An increase in buying pressure that Matetic presses over the head and shoulder cutout could lead to a clear start. The breaking of the resistance brand of 1.63 USD could mark the beginning of a new upward trend towards USD 2.64.

This interest bully goal is determined by measuring the height between the head and neck of the pattern and this distance is added from the outbreak point.

Although Polygon still has to overcome overhead resistance, the behavioral analysis platform Santiment shows that large investors are preparing for further price increases.

The distribution diagram The owner shows that the purchase orders have increased in the past two weeks. Many addresses that keep millions of dollars in Matic, colloquially known as "whales", have drastically increased their positions.

Wallets on the network with 10,000 to 10,000,000 Matic have acquired around 54,370,000 token worth more than $ 76 million since August 22.

The rising upward pressure correlates with a steady growth of the number of daily active addresses in the polygon network, which recently reached 7,450. The influx of buyers usually follows an increase in on-chain activity.

These fundamental factors indicate that the interest of private customers and institutional investors can return to Matic and follow volatility.

Matic TOKEN - Number of active addresses

It is worth noting that Matic must continue to act over $ 1.24 based on the head-shoulder pattern so that the optimistic thesis prevails. If this does not happen, the youngest buyers could be made to sell their stocks to avoid considerable losses.

In the event of a sale under the support brand of USD 1.24, Matic could target the sliding 200-day average at $ 0.92.