$MATIC Price Perfomance - CoinPedia Analytics
With a double bottom reversal from the support level at $0.38, the bull cycle in MATIC price forms a streak of green candles. The market cap has increased by 25% and the polygon token price by 33% in 7 days.Â
The bullish trend in MATIC price concludes a long-term bearish trend with a trendline breakout. Further, the Polygon price reclaims the $0.50 psychological mark with increased upside potential.Â
As a rounding bottom formation arises in the daily chart, the MATIC price trades at $0.5325, with an intraday gain of 1.50%.Â
The sudden increase in demand for Polygon comes with the new update in the MATIC network coming on September 4th. In this update, the long-awaited shift from MATIC to POL will occur. In addition, the news around the POL tokenâs listing on Coinbase has fueled the bullish spikes. Â
As the crypto market is on the cusp of a bull run, the breakout run in the Polygon price gains momentum. Considering the new network upgrade boosts the buying pressure, the MATIC price could reach the $0.7327 mark before taking on the $1 barrier.Â
On the downside, a reversal under $0.4757 could prove fatal and drop the altcoin to the psychological mark of $0.3928.