Why Is Polygon (MATIC) Price Up?

According to crypto analyst Crypto Rover (@rovercrc), Polygon’s native token MATIC looks poised for a major breakout. Crypto Rover has 4% of his portfolio allocated to MATIC, believing it is a solid long-term hold.

MATIC Trapped in Descending Triangle
Looking at the chart, MATIC’s price is currently trapped within a descending triangle pattern. If it can break out to the upside, Crypto Rover sees potential for MATIC to spike as high as $2.8 from its current price around $0.8.

M Cooper: zkEVM Upgrade Could Spike MATIC to $1
Additionally, trader M Cooper (@theclouedyboi_) sees bullish potential stemming from an upcoming upgrade to Polygon’s zero-knowledge rollup dubbed zkEVM. This Etrog upgrade could spur a surge to $1 according to Cooper.

With positive technical setups and fundamentals aligning, analysts seem hopeful for MATIC to continue its uptrend. Key levels to watch include the descending triangle resistance around $0.8 and the recent swing high around $2.8.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.