- Polytrade shows strong bullish momentum, with targets of $6.60 and $15.40 backed by solid technical indicators.
- EMA21 and MACD crossovers signal sustained upward movement for $TRADE, indicating significant upside potential in 2024.
- Polytrade’s partnership with Mastercard and Polygon strengthens its market position, reinforcing a strong bullish outlook for $TRADE.
Polytrade has showcased a strong bullish trend on its weekly chart against Tether on Gate.io. A dynamic 21-week Exponential Moving Average and distinct higher lows are supporting the price’s steady upward movement. A bullish crossover was recently established by the MACD indicator, suggesting that the strong momentum may continue.
Strong Technical Foundations
TRADE’s price action remains confined within a well-defined parallel channel, marked by higher lows since late 2022. The EMA21 acts as a critical support level, sustaining the bullish structure during pullbacks. The price recently broke above the EMA21, repeating a pattern last seen in October 2023, which led to a significant rally.
Moreover, the MACD crossover aligns with reduced negative momentum on the histogram, further strengthening the bullish outlook. Historical price movements suggest that MACD crossovers, combined with EMA21 breaks, often precede significant rallies in TRADE.
Source: CryptoBullet
The Fibonacci levels indicate two macro targets for the upward trajectory. The first target aligns with the 1.272 level at $6.60, while the second aligns with the 1.618 level at $15.40. These levels are consistent with previous extensions observed during bullish phases.
Current Price and Future Outlook
TRADE is trading at approximately $0.7077 and remains within the channel. The upward channel provides both resistance and support, creating a predictable framework for price movement. The lower boundary of the channel continues to support retracements, ensuring stability during corrections.
The analyst, CryptoBullet, identifies TRADE as a leading marketplace for Real-World Assets, partnered with Mastercard, Polygon, and others. This partnership strengthens the project’s fundamental value, adding to the technical bullish signals.
The price is expected to continue its upward trajectory as long as it stays above the EMA21 and within the channel. Macro targets at $6.60 and $15.40 provide significant upside potential for traders and investors.
The post Polytrade Eyes Big Gains, EMA21 Support and MACD Bullish Cross Predicts Continued Growth appeared first on Crypto News Land.
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