This crypto ‘will melt faces’ when altcoin season starts, according to analyst 
Cryptocurrency Aug 14, 2024 Share
Not long after professional cryptocurrency analyst Michaël van de Poppe shook up his altcoin portfolio, adding assets he believes will offer solid returns on investment (ROI) following the recent crash, his peer Ali Martinez has focused on one particular altcoin that is about to “melt faces.”
As it happens, Martinez is confident that “if altcoin season kicks off,” as van de Poppe expects, “Polygon (MATIC) will melt faces!” as long as it meets a critical weekly close condition, as the renowned crypto trading expert pointed out in an X post published on August 13.
Specifically, Polygon would need to close this week above $0.30 as closing below it “would invalidate the bullish thesis,” according to the crypto market analyst, whose chart pattern analysis suggested that, in that case, this crypto asset might reach the price of $50 in late 2025.
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Polygon price performance analysis and prediction. Source: Ali Martinez
Meanwhile, Cryptorphic is another crypto expert who has joined the crowd of Polygon optimists, albeit slightly less bullish than Martinez, making a bold forecast of a potential surge of over 600% following its recent bounce off a crucial support level, in an X post on August 12.
Polygon price performance analysis and prediction. Source: Cryptorphic
On the other hand, this crypto analyst warns that “things could turn out poorly” if MATIC fails to hold the critical support range between $0.316 and $0.387 and breaks down, setting the resistance level at $0.9860 and a new all-time high (ATH) of $2.923 as the long-term target.
Polygon price analysis
For the time being, the currently 21st-largest asset in the crypto sector by market capitalization is changing hands at the price of $0.41979, which suggests a 0.96% advance in the last 24 hours, adding up to the 2.09% gain across the previous seven days, as it reduces its monthly chart losses to 21.84%, as per data on August 14.
MATIC price 7-day chart. Source: Finbold
All things considered, MATIC could, indeed, see a ‘face-melting’ rally toward the end of this year and at the beginning of the next, provided it manages to retain bullish technical analysis (TA) and positive sentiment. However, things can easily change, so doing one’s own research is critical when investing.
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