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Polygon Poised for Macro Uptrend Amid Major Developments: Will MATIC Rally Following November 14?

Rene Peters Rene Peters
November 13, 2023
Why Is Polygon (MATIC) Price Up?

MATIC, the native token of Ethereum scaling solution Polygon, appears primed for a sustained macro uptrend amid a series of major ecosystem developments and teases of significant announcements on the horizon.

MATIC has already been on an impressive run, gaining 36.9% over the past 14 days. But according to widely-followed analyst Rekt Capital, MATIC now stands on the cusp of kicking off a new overarching bull market. MATIC is also up by 5% in the last 24 hours.

Momentum for MATIC intensified after Polygon co-founder Sandeep Nailwal posted a cryptic tweet urging the community to mark their calendars for November 9th and November 14th for important announcements. This sparked intense speculation about what surprise developments could be in store.

While the November 9th news turned out to be a partnership with Near Protocol focused on boosting blockchain interoperability, Nailwal confirmed this was not the major announcement he had previously teased.

Whatever ends up being revealed on November 14th, the preceding Near Protocol integration still marked a significant milestone. Improving connectivity between Polygon and other chains expands the possibilities for Ethereum scaling and cements MATIC’s role as a critical infrastructure project.

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With fundamentals firming up and anticipation running high, MATIC appears primed technically as well for a sustained move higher, with its price consolidating into a bull flag over the past month. The stars seem aligned for a major upside breakout as MATIC transitions into a full-fledged macro uptrend. Crypto investors will be closely tuned into the November 14th announcements for a potential catalyst.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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