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Polygon (MATIC) Rebounds Ahead of Major Upgrade

Polygon (MATIC) Regains Momentum Ahead of Major Upgrade

Polygon (MATIC) has bounced back from a month-long slump, and its price has rallied in anticipation of regaining the momentum it needs to achieve before an upgrade. The token is now trading at $0.4421 and has accumulated over $4 billion in market capitalization, indicating a ‘bullish’ performance.

The upswing is a positive development for investors, who had seen MATIC’s price drop by 17% in the past month. Due to the recent price correction, only 3% of Polygon addresses were still in the green, with most investors experiencing losses. However, since the token has recently made its way back into the market, the number of profiting addresses has increased to approximately 21,600.

The sudden shift in sentiment is linked to a falling wedge pattern on the token’s chart, which could result in directional breakouts and escalating prices. A healthy balance between buying and selling pressures is indicated by this convergence, which could lead to a sustained price rally. Additionally, the token has experienced recent gains due to the lack of significant whale movements, who have been quietly monitoring the market. The MVRV ratio has shown significant improvement, indicating a positive trend in the market.

The September 4th upgrade is expected to be incredibly beneficial for MATIC’s price growth. As part of the upgrade, more benefits will be offered by moving this token from MATI to POL, including its use as OPX gas token for the Polygon ecosystem. The token’s value is expected to rise as a result of this development, which will increase its utility and popularity.

As the token approaches its breakout stage, investors are eagerly anticipating if the price of MATIC increases 100% within one year, pushing it towards around $1. Although this surge is not a certainty, the combination of technical and fundamental factors indicates that the token will thrive in the future. Polygon’s (MATIC) recent price increases are indicating the latent potential of the TOK, as well as its possible rise with upcoming major upgrades and reversal of wedge pattern, which could lead to broader volatility than previously anticipated.

While investors wait for the token’s next step, one thing is certain – Polygon is once again an attractive proposition that should be closely monitored. For more insights and information on the topic, check out this article on CoinSeeks.com: Polygon (MATIC) Price Prediction 2022.

With its recent price increases and upcoming upgrade, Polygon (MATIC) is an attractive investment opportunity that should not be overlooked. Stay tuned for further updates and developments on this promising cryptocurrency.

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