Price Analysis

Polygon(MATIC) Price Smashed The Milestone Above $2, Is $3 Imminent?

Highlights

    Matic price hit the milestone in the early trading hours, yet appears poised to rise to higher levels

    While many other altcoins and DeFi tokens had a booming rally, Matic silently rises above the levels

    With the extensive bull run, the price is expected to reach higher levels in the coming days

MATIC Price Forms New Highs

Polygon (Matic) price in recent days stood strong despite a huge market correction, above $1. No doubt small pullbacks below $1 were also a part of the rally, yet it bounced off well to regain the lost positions. 

In a very surprising move, the matic price flipped the bearish trap and bounced from levels below $1.6 to the current levels above $2. Moreover, the intensified bull run showcases the price is self assured to hit the next resistance levels around $3 to $3.2.

matic jumping

Currently, Matic broke the upper resistance levels of the parallel channel and flew high above $2. Therefore, the next target to hit before the daily close is around $2.4 to $2.45 . Once these levels are achieved successfully, $3 is imminent.

Also Read: MATIC, BNB, LINK, and SUSHI Poised to Erupt Soon, Hints Analyst

Polygon Transactions More Cheaper Than Ethereum

It is a known fact that the gas fees are extremely high on Ethereum platform. Despite a couple of upgrades, the issue has yet to be fixed. And therefore many looked out for other options to get rid of the fees. 

However, the polygon network has emerged as one of the most cost effective platforms than Ethereum.

The above is the comparison of the transaction fees of a single day, where the polygon platform accounted for 275% less fees than that of Ethereum. Hence the growing ecosystem fuels the MATIC price rally which is poised to hit higher levels in coming days. 

Also Read: Theta Coin Price Rises High Despite A Bloodbath In Crypto Space

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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