🔥💥Polygon (Pol) Makes the Latest Bounce: Could $POL Rally to $1.73?

#Polygon recently completed the final Sunday release of its native token #MATİC laying the foundation for the adoption of Polygon 2.0. The transfer to the Matic Foundation included 273 million MATIC tokens, worth about $253 million, and was a timely milestone, since the entire MATIC supply is now in circulation. The event, which took place on the evening of February 21, 2024, also became a central point for market observers and participants.

Transition to Polygon 2.0

Polygon is a leader in Ethereum scaling solutions and is always evolving to improve its ecosystem. The latest token release follows the roadmap to Polygon 2.0 by bringing an improved version of its platform. The upgrade aims to solidify Polygon's place in the blockchain industry by introducing POL, a new token that will become the central currency in the Polygon ecosystem. The transition from MATIC to POL, which is the long-term vision of the project, is expected to take four years.

However, the moment after the release of the token, the value of MATIC fell to $ 0.94. Given MATIC's historic $1 resistance, this price movement was observed critically. However, at the time of writing the bearish trend calmed down and prices changed hands to $ 0.9637, down 1.38% from their intraday high.

But analysts think this is a short-term obstacle and indicate that an optimistic future with superficial patterns is still appropriate. One analyst pointed out the formation of a symmetrical triangle and suggested that there could be a significant rise as long as MATIC's close continues above $ 0.96 and it could rise as high as $ 1.73.

Comparative Performance and Efficient Analysts

Last year, MATIC fell by 32%, and other Layer 2 tokens (OP and SKL) ranked ahead of it. But the mood in the market is positive. The analysis shows that MATIC will make a big comeback, and the forecasts give an expected wave towards the $ 1.8-2.0 line, which is influenced by market dynamics and FOMO.

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