"Perhaps possible, perhaps not, no matter what, investors must always pay attention to the movement, you know."
Polygon (MATIC) has underperformed other cryptocurrencies as its price which once hit $0.94 on December 9, 2023 has seen a plunge to $0.81 on December 11.
However, crypto analyst Ali Martinez expects MATIC to rally 100% to reach $1.82 once the price breaks the next major resistance zone at $0.96.
Please note that the last time MATIC hit such a high was in May 2023, so here it can be seen that the digital asset needs to break a seven-month high to start a drastic rise.
Immediately after MATIC made a breach of $0.96 which is its resistance zone, the analyst expects there to be two targets where the price may go to $1.25 or even higher at $1.82.
There is no denying that MATIC has fallen early Monday morning, but its price still shows quite strong upward momentum plus its profit remains lower than other altcoins.
Through observation, MATIC's total profit for all its holders is still at a paltry level of about 30% and it is far from its performance in February 2023 where almost 70% of the total holder base is in positive condition.
This means that not many MATIC investors want to sell their holdings now, therefore there is not much selling pressure on the digital asset compared to Ethereum (ETH) which has increasingly experienced selling pressure.
As of this writing, MATIC price plunged by 2.02% to $0.83 in the last 24 hours with a market capitalization of $8 billion but still recorded a 2.61% jump over the last week.
