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Polygon can hit $3.50 in Q4 as MATIC’s 20% weekly rally triggers bull flag setup
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Polygon (MATIC) has the potential to reach $3.50 by the end of this year as it charts a pattern that’s starting to resemble a bull flag.
In detail, bull flags are bullish continuation patterns that emerge when the price consolidates following a strong move higher. In doing so, the price tends to trend lower while leaving behind a sequence of higher lows and lower lows.
A breakout occurs when the price closes above the flag’s upper trendline (or resistance). In other words, the price can rise by as much as the height of the previous uptrend, also known as a flagpole.
It appears MATIC has been painting a similar pattern even since it established a record high of $2.89 on May 17, following a $2-long upside run (the flagpole).
As a result, should
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