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Can Matic hit a new all-time high in December?


 

Polygon (MATIC / USD) is one of the few coins that has survived the market-wide correction. This shows the strength of Matic and that once the correction is over, Matic could start a huge rally. Holding in a market where many coins are down over 50% is a big sign that buyers are very strong and that the coin is in a very bullish phase. Investors are now looking to get into Matic in the hope of a new all-time high soon. Matic has also formed a bullish hammer on the weekly timeframe, suggesting a bullish rally could be seen soon. However, investors are now wondering whether it is too late to buy Matic. Should you buy Matic now?

  • After a sharp rally earlier this month, it looks like Matic will correct itself before resuming its rally and before hitting a new all-time high.

  • Matic made up for all of the losses it suffered when Bitcoin (BTC / USD) fell in early November. This suggests that Matic is in a very bullish phase and a bullish rally could start soon. Hence, the likelihood of Matic falling is very slim for the sellers.

  • Matic has formed a very bullish pattern known as the volatility contraction pattern. This points to a massive upward movement very soon.

  • A bullish hammer has also formed, showing that the sellers have failed and that the buyers are currently very well represented.

  • Investors can target a new all-time high.

  • Investors still need to be careful and set a stop loss.

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