Token

bullish

Bitcoin

Polygon

The post <a href="https://coinpedia.org/price-analysis/matic-price-eyes-1-as-new-polygon-token-pol-lists-on-coinbase/" rel="noopener noreferrer nofollow">MATIC Price Eyes $1, As New Polygon Token POL Lists On Coinbase&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
<ul class="wp-block-list">
 <li>MATIC price trend shows a bullish breakout of a long-coming resistance trendline.</li>
 <li>The Polygon price has increased by 33% in 7 days.&nbsp;</li>
 <li>The breakout run in MATIC price eyes $1.&nbsp;</li>
</ul>
As the bulls continue to struggle to hold Bitcoin at $60,000, the MATIC price has skyrocketed this week. With the altcoin market finding an additional push as smart money shifts from Bitcoin due to a sideways trend, <a href="https://markets.coinpedia.org/polygon/" rel="noopener noreferrer nofollow">Polygon </a>gets into action.&nbsp;
A bullish reversal sets a breakout entry stage for sideline traders, boosting trading volume. With increased chances of a $1 breakout, check out our<a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" rel="noopener noreferrer nofollow"> MATIC price prediction</a> projecting a bullish 2024.
<h2 class="wp-block-heading" id="h-matic-price-performance">MATIC Price Performance</h2>
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.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="486" src="https://image.coinpedia.org/wp-content/uploads/2024/08/22120452/Polygon-Price-Analysis-22-Aug-2024-1024x486.png" alt="Polygon Price Analysis 22 Aug 2024" class="wp-image-341296" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/22120452/Polygon-Price-Analysis-22-Aug-2024-1024x486.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/22120452/Polygon-Price-Analysis-22-Aug-2024-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/22120452/Polygon-Price-Analysis-22-Aug-2024-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/22120452/Polygon-Price-Analysis-22-Aug-2024-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/22120452/Polygon-Price-Analysis-22-Aug-2024-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/22120452/Polygon-Price-Analysis-22-Aug-2024.png 1802w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Polygon Price Analysis 22 Aug 2024
 </figcaption>
</figure>
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.&nbsp;
As a rounding bottom formation arises in the daily chart, the MATIC price trades at $0.5325, with an intraday gain of 1.50%.&nbsp;
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.&nbsp;&nbsp;
Technical Indicators:
RSI: The daily RSI line shows a bullish surge ready to hit the overbought boundary line.&nbsp;
MACD: The MACD and signal lines skyrocket with a boost in bullish histograms.&nbsp;
<h2 class="wp-block-heading" id="will-polygon-price-hit-1">Will Polygon Price Hit $1?</h2>
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.&nbsp;
On the downside, a reversal under $0.4757 could prove fatal and drop the altcoin to the psychological mark of $0.3928.

MATIC Price Eyes $1, As New Polygon Token POL Lists On Coinbase

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