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Trader Justin Bennett named a token that has overcome an important resistance level and may rise in price by more than 70% in the near future
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Trader Justin Bennett discovered an altcoin that he believes has the potential to almost double the growth. According to the analyst, this week the Polygon token (MATIC) broke the important resistance level at $ 2.7. In the near future, the altcoin will test this level as a support, and then move to active growth until the next serious resistance, which is located in the $ 4.7 region (an increase of 74% from current levels), the trader predicted.
For crypto investors who plan to buy the Polygon token, the trader advised to wait until the altcoin price is sure to gain a foothold above $ 2.7.
On December 23, the price of the Polygon token renewed its all-time high above $ 2.7. Altcoin is trading at $ 2.6 at 12:00 UTC on December 24, with a market cap of $ 18.1 billion, according to CoinGecko. Over the month, the token has risen in price by 50%.
Polygon is an Ethereum-compatible second-tier sidechain powered by PoS (Proof-of-Stake) algorithm. This network is faster and with lower fees than the main Ethereum network.
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