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<div class="coinjournal">
 <ul>
 <li dir="ltr">Polygon (MATIC) traded near $0.78 on Monday as the Ethereum scaling solution moved closer to its Etrog upgrade.</li>
 <li dir="ltr">MATIC could breakout to above $1 if bulls hold key level, or likely retest the important support zone at $0.5.</li>
 </ul>
 <a rel="noopener noreferrer nofollow" title="Polygon" href="https://thebittimes.com/tag/polygon.html">Polygon</a> (MATIC) price was trading near $0.78 on Monday as the Ethereum scaling solution moved closer to its Etrog mainnet <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a>.
 The altcoin, which rose to above $0.79 amid a 20% spike in trading volume, was among the few cryptocurrencies in the top 20 by market cap to hover flat as Bitcoin retreated below $43k to mirror US stock declines.
 <h2 dir="ltr" id="matic-outlook-as-polygon-eyes-etrog-upgrade">MATIC outlook as Polygon eyes Etrog upgrade</h2>
 Last month, Polygon Foundation announced a 10-day countdown to the activation of the Etrog upgrade on mainnet.&nbsp;
 As noted in a blog post, the upgrade is for Polygon zkEVM and is set to bring support for pre-compiled smart contracts. The release is expected to transform the zkEVM closer to a Type 2 ZK-EVM, – that is, an EVM-equivalent ZK rollup.
 With the <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a>, developers can deploy their code on <a rel="noopener noreferrer nofollow" title="Polygon" href="https://thebittimes.com/tag/polygon.html">Polygon</a> zkEVM just as they would on Ethereum. According to the <a rel="noopener noreferrer nofollow" title="Polygon" href="https://thebittimes.com/tag/polygon.html">Polygon</a> Foundation, devs only need to “copy-paste and go, no modifications necessary.”
 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 The next upgrade for Polygon zkEVM will, effectively, make the network a Type 2 ZK-EVM. What does that mean for developers? It means that you can deploy your code on Polygon zkEVM exactly as it is on Ethereum—just copy-paste and go, no modifications necessary.
 The 10-day… pic.twitter.com/GThNxj7V6F
 — Polygon Foundation (@0xPolygonFdn) January 27, 2024
 </blockquote>
 
 The 10-day countdown for the <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a> means the expected mainnet release is on Tuesday, February 6.
 Ahead of this milestone, MATIC price rose from an intraday low of $0.76 to $0.79 before retesting the support area amid today’s broader crypto lull.
 If a breakout materializes in coming days and weeks, the Polygon token could target an extended run above the psychological $1 level. A breakdown however could push MATIC/USD to the 2023 support base around $0.5.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/polygon-matic-hovers-near-key-level-ahead-of-etrog-upgrade-tbt78960.html">https://thebittimes.com/polygon-matic-hovers-near-key-level-ahead-of-etrog-upgrade-tbt78960.html</a>

Polygon (MATIC) hovers near key level ahead of Etrog upgrade

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