$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. 

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. 

As a rounding bottom formation arises in the daily chart, the MATIC price trades at $0.5325, with an intraday gain of 1.50%. 

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 token’s listing on Coinbase has fueled the bullish spikes.  

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. 

On the downside, a reversal under $0.4757 could prove fatal and drop the altcoin to the psychological mark of $0.3928.