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XRP and Polygon (POL) Show Strength in Cryptocurrency Market as Analyst Predicts Massive Breakout
XRP Surges on Trump’s Victory and Gensler’s Resignation
XRP has seen a significant rise in value following Donald Trump’s win and the news of SEC Chairman Gary Gensler stepping down. On the other hand, Bitcoin is facing a downward trend. Similarly, Polygon (POL) has entered a bullish trajectory, though it has yet to witness a full breakout. However, a renowned analyst has now outlined a 60X breakout for the altcoin.
Analyst Predicts POL’s Path to $36
Seasoned analyst Ali Martinez has forecasted a 6,000% surge for POL, projecting its price to increase from $15.27 to $36.17. Martinez attributes this positive outlook to the fact that around 75% of POL holders are currently at a loss, indicating minimal selling pressure and a reluctance to take profits. This situation suggests a bullish trajectory for the altcoin.
Price of POL Poised for 60X Surge
Martinez also cites on-chain metrics like the rise in new active addresses, whale activity, and trading volume as indicators of a growing POL market. Whales have reportedly purchased 140 million POL between November 14 and 18, signaling confidence in the altcoin. A sustained close above $0.7973 could trigger a further rise for POL. With an 80% increase in the last 30 days, the altcoin appears ready to reclaim its previous price levels.
I believe Polygon is consolidating in a multi-year descending triangle and a weekly close above $0.7973 could trigger a rise to $15.27 or $36.17!
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The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
