Polygon’s POL Upgrade Boosts MATIC Price: What’s Next?

• Polygon Labs launches POL upgrade on Ethereum mainnet.
• MATIC price rises by 30%, indicating strong bullish momentum and positive market sentiment.
• CoinCodex forecasts a 33.12% price increase for Polygon, making it an opportune time for investors to buy.

Polygon (MATIC) has achieved a significant milestone by launching its POL upgrade on the Ethereum mainnet. This development has led to a remarkable 30% surge in MATIC prices, indicating strong bullish momentum and boosting investor confidence.

Read CRYPTONEWSLAND on google news

After months of development and weeks of testing on the Polygon sidechain, this move marks the beginning of a new era for the project. Polygon Labs believes this release sets the stage for a series of upcoming milestones in the Polygon 2.0 roadmap, underscoring their commitment to innovation and growth.

Analyzing the price charts, it’s evident that MATIC has rebounded impressively, erasing the losses incurred in October 2023. Bulls have not only managed to reverse the dip experienced on October 17 but have continued to drive the price higher. 

On a daily chart, bull bars are visibly clustering along the upper Bollinger Bands, a key volatility indicator. This suggests that underlying momentum is building, favoring buyers with an optimistic outlook.

For investors considering entry into the Polygon ecosystem, now appears to be an opportune moment. According to CoinCodex‘s current Polygon price prediction, there is an expected 33.12% price increase in the near term, with a projected price of $0.835877 by October 31, 2023. 

The technical indicators remain neutral, and the Fear & Greed Index reflects a sentiment of greed with a score of 71. Over the last 30 days, Polygon has recorded a 50% success rate of green days, with a price volatility of 6.40%.

Read also:

• Polygon Founder Explains How POL Will Bring More Than MATIC Could
• After XRP Win, How Much Will MATIC Surge Before Revamping to POL?
• Polygon’s Long-Awaited POL Token Contracts Go Live on Ethereum
• Polygon Unveils Details About POL and Polygon 2.0 Upgrade
• Polygon’s Game-Changing 2.0 Upgrade Sends MATIC Price Soaring!