The Quiet Rise of Polygon
Polygon has operated in relative obscurity for an extended period, eluding the widespread attention of market participants. Despite some interpreting this as a decline in bullish strength, potentially leading to a significant descending trend, the reality suggests that MATIC price is gearing up for a substantial bullish move.
The bulls have been adopting a passive trend, accumulating strength to showcase as price levels approach the apex of the current consolidation phase. This strategic approach indicates a potential surge in bullish activity.
Learning from History
During the 2021 bull run, MATIC demonstrated its ability to trend upwards dramatically, shedding several zeros to reach an all-time high (ATH) close to $3. Although prices retraced to cents afterward, the popular layer-2 token appears to be setting the stage for an uninterrupted rally.
Earlier, the price broke out of a triangle pattern, resulting in a 10x increase. A similar price action is anticipated now as the token finds itself within a comparable bullish pattern.
Bullish Momentum Despite Challenges
The previous week, concluding on a bullish note, propelled the price above the triangle. Despite bearish pressures, the levels have been maintained above the gains, indicating a substantial presence of bulls in the market. The token seems to be approaching the end of consolidation, hinting at a potential massive breakout. This mirrors the scenario before the 2021 bull run when Polygon’s price consolidated in a similar triangle, potentially signaling a recurring event.
Polygon 2.0 and Anticipated Impact
However, the rebranding from Matic Network to Polygon had a profound impact during the 2021 bull run. With the imminent rollout of Polygon 2.0 and the token migration from MATIC to POLS (already live), a similar impact is expected in the latter part of the year.
The projected expectation is that Polygon’s price will sustain above $0.96 until the day closes, achieving a minimum level of $1.5 to $1.7 by the end of the week. This could validate the beginning of a fresh bull run, potentially culminating in a new ATH with double-digit figures.
