Polygon ($MATIC) is currently the twentieth largest crypto asset, with a market cap of more than 12 billion dollars.
Through its QuickSwap decentralized exchange, $MATIC enables crypto investors and traders to execute transactions on the Ethereum blockchain at a much lower cost.
Because of these lower fees, Polygon is now growing twice as fast as Ethereum at the same point in its lifecycle.
Check out this recent report about the amazing growth of Polygon.
The Morpheus Crypto portfolio recently scored a +23% gain when we bought a breakout in $MATIC and sold it ten days later.
We’ve kept $MATIC on our radar and have been waiting for the ideal re-entry point–and that time has come!
Here’s why:
$MATIC recently broke out above key resistance of its prior high from early September (yellow horizontal line).
More importantly, $MATIC broke out above the upper channel of a weekly bull pennant pattern.
The reduced supply technically sets up $MATIC for a +50% advance to test its all-time highs from May 2021 ($2.70 area).
$MATIC is currently showing a gain of +15% in the Morpheus Crypto Portfolio since our entries shown below.
On October 15, we alerted Morpheus Crypto members that we were buying a partial position of $MATIC at $1.48.
When we received more bullish price confirmation, we then added to the position on October 23 at $1.64, giving us an average price of $1.59:
Our initial protective stop at entry was set at $1.28.
After we enter a new crypto swing trade, we trail the stop price higher as the price moves further in our favor.
Trade alerts are sent to notify subscribers of our exact entries, stops, and exits.
Speaking of hot crypto signals, Quant ($QNT) is also breaking out from a bull pennant pattern and is poised for a massive rally as well. Check our previous analysis on the $QNT setup here.
Get started now with Morpheus Crypto to be instantly alerted to our exact buy and stop prices of the next big winning crypto swing trade.
By the way, if you’re brand new to crypto trading, Morpheus will help you get set up the right way now.
Are you ready to seize the golden opportunity in trading? In our last analysis, we forecasted a monumental breakout in…
Embark on a journey to master the art of crypto swing trading with Deron Wagner, founder of Morpheus Trading Group.…
In the fast-paced world of trading, navigating through the noise of social media can be daunting. But fear not, for…
Feeling a bit shaken up by Bitcoin's recent turbulence? Don't worry, we've got you covered! Dive into this comprehensive guide…
Ever left mountains of potential profits on the table by exiting your winning trades too soon? Kicking yourself for missing…
In trading, timing is everything. Catching that massive breakout move that can deliver life-changing gains is the dream of every…