The MATIC price has been in a downward trend for approximately 700 days since the last peak. Last week, the altcoin managed to break above this trend line but failed to sustain the upward momentum. Instead, it formed a candlestick in the downward trend and fell back below.
The bullish trend in the weekly RSI supports the possibility of a price increase. Additionally, the MATIC price has risen above the long-term horizontal resistance zone of $0.75, and predictions have been made that this level will act as support in the coming days.
Polygon (MATIC) price analysis
If MATIC performs as predicted and makes a breakout, it could show a 70% increase up to the next horizontal resistance at $1.50.
However, if it fails to break away from the long-term trend line, it might lead to a 10% decline to the nearest support at $0.75.
Crypto analysts in the X space mostly anticipate an upward trend for the future MATIC price.
ZAYKCharts has indicated that a potential long-term breakout from the current model is likely, and it could reach an all-time high.
NebraskanGooner and Nihilus also expressed bullish expectations, although these analyses are focused on the short term rather than the long term.