We use cookies to offer a better browsing experience, analyze site traffic, personalize content, and serve targeted advertisements. By clicking accept, you consent to our privacy policy & use of cookies. (Privacy Policy)

Polygon Price Prediction: Can Hermez Acquisition Send MATIC to 3-Month Highs?


Bullish Polygon price prediction bets continue to enjoy the resurgence of the Polygon price token, which has just hit a new 2-month high. This follows the acquisition of Hermez by Polygon in a $250 million deal, including the merger of the tokens of both projects.

The New Polygon Hermez offering is arguably the first merger of two full-blown networks and tokens. For owners of tokens from both projects, the token merger ratio will see 1 HEZ exchanged for 3.5 MATIC tokens. A swapping contract to merge the token ownerships is is in the works.

Polygon Price Prediction Outlook

The 1.43446 resistance level continues to hold firm after the third attempt to break past it appears to have failed. A pullback from this rejection allows 1.18786 to become the new downside target. Below this level, bears need to take out 1.04197 and the trendline for 0.88256 to come into play.

On the other hand, a break of 1.43446 is required to advance the Polygon share price further. Bullish Polygon share price predictions will only be seen to come through if 1.71628 and 1.88128 come into the picture from a break of the price resistance zone formed by the 1.43446 and 1.60000 price boundaries.

Polygon (MATIC/USDT): Daily Chart

Follow Eno on Twitter.