Polygon Matic is up by 3 per cent in today’s trading session, ending an aggressive bearish trend that had persisted for the past three consecutive sessions. Today’s trading session also resumes a strong bull run that started in July and had seen prices surge by 30 per cent before the July 9 bearish trend started.
In July, Polygon Matic has been among the best performing cryptocurrencies and is already up by 21 per cent. The aggressive bullish trend comes after constant underperformance in the markets. In June, for instance, Matic dropped by 27 per cent. The drop was an extension of a long bearish trend that had seen the crypto dropping by 35 per cent in May and 36 per cent in April.
Why is Polygon Matic Going Up?
Part of why we have seen Polygoin Matic prices go up is due to the latest announcements by the platform. For instance, the platform recently announced integration with the Robinhood app. In addition, Robinhood, one of the world’s largest trading platforms, has seen Matic delivered to millions of potential buyers, which has augured well in the markets, resulting in the current push to the upside.
The platform has also recently been announced as the main platform where Reddit’s blockchain-backed collectable avatars will be stored. Part of the reason Polygon was selected is because of its low-cost transactions and sustainability commitments. These factors have also been among the reasons cited for the recent gain in traction of the crypto.
Another reason why we have seen a surge in Polygon Matic prices is due to whales. A recent report shows that, since the launch of the Reddit avatar marketplace, the number of whales has increased. This is a positive development in the development of Polygon Matic.
Polygon Matic Price Prediction
I expect the polygon Matic price to continue with its current strong bullish trend. Part of the reason for my prediction is due to the current news cycle, which has been extremely positive for the crypto. As a result, we will likely see the prices trade above the $0.063 price level, which will be a monthly high.
My analysis will, however, be invalidated if the current conditions, such as whale’s Matic accumulation of the crypto, change. In that case, I expect the current bullish trend to start reversing.