MATIC price has been in a downward trend for nearly 700 days since the last rally. The altcoin broke above this trend line last week but failed to break out. Rather, it formed a candlestick in a downtrend and broke below again.
The bullish trend of the weekly RSI supported the possibility of a price increase. Additionally, MATIC price broke above the long-term horizontal resistance zone of $0.75, and predictions were made that this level would provide support in the coming days.
If MATIC breaks out as predicted, it could rise 70 percent to the next horizontal resistance at $1.50.
Even if it fails to break out of the long-term trend line, it could cause a 10 percent decline to the nearest support at $0.75.
Cryptocurrency analysts at X are also mostly bullish on the future MATIC price trend.
ZAYKCharts notes that a long-term breakout from the current long-term pattern is likely and could reach a new all-time high price.
NebraskanGooner and Nihilus also expressed their bullish expectations. However, the analyzes were made for the short term, not the long term.
