Ethereum

bullish

Polygon

A couple of days ago, the Polygon chain accomplished its much-awaited migration, wherein POL replaced MATIC as the native gas and staking token. While the newly launched POL is expected to play a crucial role in AggLayer, the community could decide to expand the utility of POL in subsequent phases. While the MATIC on the Polygon zkEVM will be automatically swapped to POL on a 1:1 basis, the tokens on Ethereum and other chains require a manual migration.&nbsp;  
Meanwhile, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">POL price</a> remained stuck under $0.4 until the traders jumped in with a massive influx of buying volume. The POL price experienced a quick upswing after the volume soared. above $70 million, halting the ongoing descending trend. The technicals have turned in a bullish favour, which revives the possibility of reclaiming $0.5. The bulls are trying hard to materialize a parabolic recovery and a bullish close above $0.44 may keep up the probability of a bullish continuation for the next few days.&nbsp;  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf_N999I8_0jdL0jja1J1FOhxrWSAUE7E1gBSHSI_6EJf4JTHOJ4hu8gq-zuqmkwds4m9Zba24O5M_6osfcNwZFSx0JFCRZA-g5g4A3bg-lAfd_g-dZDgL-bAkhjL0vWacVoWDJQnbQObbgXhu502AMFxgS?key=BeYKYwSNX8A3REJy0ieAQQ" alt="">
</figure>  
The price is trying to set a parabolic curve, which appears to be more likely as the RSI is ascending with the MACD close to undergoing a parabolic crossover. Besides, the steep rise in volume suggests an immense rise in the trader’s confidence. Therefore, the POL price is believed to maintain a steep upswing and rise above $0.57. However, the token may face a pullback before reaching the pivotal $0.6 zone, which may exhaust the selling pressure.&nbsp;  
The upcoming quarter is believed to retain a strong bullish momentum within the markets and hence the POL price is also believed to demonstrate some strength. Therefore, as the market dynamics change, the token is expected to reclaim the $1 milestone, validating a move above the bearish influence. Although forming a new ATH remains a tedious job, the Polygon (MATIC) price or the POL price is believed to maintain a slow and steady upswing in the days ahead.&nbsp;

Coinpedia Fintech News

CoinPedia News

Other articles published on Sep 13, 2024

Analyst Who Predicted Recent Bitcoin Drop to $49,000 Issues Caution for XRP Holders, Predicts 3,5...

Grayscale’s XRP Trust Will Boost Market Confidence, Pave Way for Future ETF — Bitget Analyst Ryan...

Borderless Summit to Explore the Era of Consumer-First Web3 During TOKEN2049 Singapore (13 Sep)

Major Memecoins Lose Momentum Following Meteoric Gains

This Altcoin on Binance Held a Critical Vote: Staking Begins!

Greenidge Sells South Carolina Site to Repay $21 Million in Debt

Join our free newsletter for daily crypto updates!