In yesterday’s trading session, Polygon Matic’s price surged by over 6 per cent, closing the day at $0.84. Today, the bullish trend looks to be continuing, with prices already up by a percentage point and looking likely to continue rising throughout the session.
The price surge during yesterday’s trading session came amidst market uncertainties that have pushed other altcoins to trade bearish for the past few weeks. One of the reasons why Polygon Matic has continued to outperform other altcoin projects is due to the recent partnerships and project developments on the platforms, which have acted as a signal to investors that the project is growing.
Among these partnerships is Kucoin’s selection of Polygon Matic as a strategic partner. Kucoin, one of the largest cryptocurrency exchanges, cited Polygon Matic’s low transaction fees as one of the reasons why it decided to partner with the platform. The news of the partnership with the platform was received positively and drove the Polygon Matic price up by 6 per cent in the early hours of Friday’s trading session.
Polygon Matic Price Prediction
Unlike other cryptocurrencies that have traded in tandem with the general trend of the cryptocurrency industry due to correlation, Polygon Matic has chartered its own path in the past few weeks, establishing a bullish trend. Today, its price is up by a percentage point, extending yesterday’s 6 per cent spike.
Technical indicators such as the Williams Alligator also show Polygon Matic is still in a long-term bullish trend. Therefore, my Polygon Matic price prediction expects the prices to continue rising for the next few trading sessions. There is a high likelihood we might see prices trading above the $1 price level before the month of October ends. Despite the current bearish trend of the cryptocurrency industry, I also expect Polygon Matic to continue trading aggressively against the trend. However, a price drop below the $0.80 price level will invalidate my bullish analysis.