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Can MATIC Continue To Avoid The Overarching Bearish Crypto Trend?

How High Can The Value Of Polygon (MATIC) Go?
Image by Anemone123 from Pixabay

Even though the majority of cryptocurrencies still reel from bearish market pressure, there are always exceptions. MATIC has successfully bucked the trend and still notes a substantial gain this past week. With some interesting developments in the pipelines, this run may not be over just yet.

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Promising MATIC Price Action

When most cryptocurrency markets try not to lose more value, a well-performing asset is a sight for sore eyes. MATIC Continues to note a solid performance given the current market conditions. Unlike other assets, it has managed to retain most of its recent price gains with relative ease.

A 143.4% increase for the week indicates this alternative currency is in a good place speculation-wise. Sustaining such a sharp level of growth is usually a different matter.

MATIC, Can MATIC Continue To Avoid The Overarching Bearish Crypto Trend?
MATIC/USDT chart by Tradingview.com

Several traders and speculators on Twitter expect this bull run to continue a bit longer. Strictly, Technical expects a new MATIC all-time high over the coming weeks. Pushing through to $3 or even $3.2 is, according to this user, not impossible. Doing so will generate another 50% price increase for the asset, something many traders will gladly embrace under the current market conditions.

A similar sentiment is offered by Tradingnoobie, who predicts a giant bull flag is forming for MATIC. In that user’s opinion, the coming week will prove rather entertaining. Judging by today’s performance so far, there may be a continuation of the current uptrend. Which values to look for is a matter of personal analysis and preference, however. 

As is often the case, technical analysis can only tell so much about a market and its current condition. It is essential to look beyond the price charts to determine if there is a long-term game. For MATIC, there are some exciting developments to take note of. 

Prominent MATIC Developments

When it comes to the different cryptocurrencies, one always has to look beyond the current price momentum. Fueling growth, innovation, and long-term value are equally crucial aspects. For MATIC, the recent expansion of the 1Inch Network to the Polygon blockchain is a pretty significant deal. As one of the top exchange aggregators,  offering such a vote of confidence is a significant development.

It also appears the network is increasing in terms of transaction capacity lately. Strong growth in transactions has been recorded, topping over 4 million TX in a single day not that long ago. Compared to other cryptocurrency ecosystems, Polygon appears to be on the right track. Sustaining this level of growth will be the next order of business, however. 

Closing Thoughts

Unlike most cryptocurrency markets, MATIC appears to be on par for future price growth.

The lack of a bearish trend when all other markets soured is a bullish sign. Additionally, there are some intriguing ecosystem developments in recent weeks confirming a growing interest in this network. Whether that will be sufficient to keep the price pushing higher will become apparent in the days and weeks to come.

As the uneasy cryptocurrency market momentum persists, investors and speculators will start chasing quick profits. MATIC may prove worthwhile, although it may see a delayed price correction for all one knows. The markets remain incredibly volatile for the time being; thus, caution remains of the essence.

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JP Buntinx_CoinChapter
Jean-Pierre Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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