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Wednesday, November 30, 2022
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    HomeMarketWhy $2 MATIC is within reach in the short term

    Why $2 MATIC is within reach in the short term

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    • Polygon is buying and selling in a bullish channel whereas making larger lows.

    • Polygon is pushed by a mixture of market momentum and inner fundamentals.

    • Among the many fundamentals driving Polygon is its place as one of the important Ethereum scaling options. 

    Polygon MATIC/USD has been on an uptrend since March sixteenth. On this interval, Polygon has moved from $1.39 to a excessive of $1.67 in the present day. Polygon continues to achieve upside momentum, and with the broader market turning bullish, it may simply break the $2 mark within the brief time period.

    In addition to its value being pushed by broader market momentum, Polygon is closely tied to Ethereum, which is a giant deal when it comes to its long-term progress. Ethereum’s transition to Proof-of-Stake will likely be full within the subsequent few months. Take a look at runs are already successful, which suggests the much-awaited shift to Eth2.0 will likely be completed quickly.

    The impression is that almost all Ethereum transactions will transfer to layer-2 options. Polygon occurs to be one of many largest and most acknowledged Ethereum layer-2 options out there. This implies demand for Polygon and different layer-2 options is about to skyrocket. As this occurs, the worth of the MATIC token may also rally. 

    Polygon is making larger lows in a bullish channel 

    Supply: TradingView

    Since March twenty third, Polygon has been steadily rising whereas making larger lows. This implies the demand is so excessive that each dip is being eaten up quick. If the present Polygon value motion continues, $2 could possibly be attained within the subsequent few weeks. 

    Abstract 

    Polygon is in a bull run for the time being. A mixture of total market momentum and enhancing fundamentals across the Polygon ecosystem driving its value. Among the many fundamentals driving up Polygon contains expectations round Eth2.0. Ethereum will quickly be relying closely on layer-2 options to finish transactions. Being one of many largest amongst them, Polygon is uniquely positioned to achieve probably the most in adoption.



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