Market Eyes 85% Increase In MATIC Price After $13 Million Transaction, Upgrade

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Market Eyes 85% Increase In MATIC Price After $13 Million Transaction, Upgrade - NewsBTC

Quick Summary:

This upgrade will see the network shift from the MATIC to the POL coins and is highly speculated to improve Polygon in terms of functionality and governance.🚨 30,000,000 #MATIC (13,106,053 USD) transferred from unknown wallet to #Binance — Whale Alert (@whale_alert) August 20, 2024 $13 Million MATIC Transfer To Binance Recently, some $13 million in MATIC coins have been moved from an unknown wallet to Binance in a notable volume.

However, according to technical analysis, a falling wedge pattern, normally an indication of a bullish reversal, has been in play since the beginning of 2024, which suggests that MATIC could be closer to breakout level.

If MATIC succeeded in breaking upwards through the upper trendline of the inverse head and shoulders pattern, it would stand to realize a massive price increase to as high as $0.85.