According to crypto analyst Ekta Mourya, the price of Polygon (MATIC) may continue its uptrend as dApps on the network explode. Popular altcoin project Polygon (MATIC) price could break out of the downtrend, climbing higher as network activity increases. The development team made a fix to keep the Ethereum scaling solution’s blockchain network alive. The crypto analyst states that he believes a Polygon (MATIC) price rally could undo the altcoin’s losses.
Anticipation of rally for this altcoin
According to the analyst, the price of Polygon (MATIC) could rise further with the increase in the number of decentralized applications on its blockchain. The Ethereum scaling solution has corrected the disruption to their operations, empowering more decentralized applications and users in its network. As the network activity explodes, the analyst insists that the MATIC price may explode. Polygon (MATIC) price remains 50% lower than its all-time high, but the unlocked aggregate value of the Ethereum scaling solution has increased consistently. Proponents claim that Polygon (MATIC) competes with scaling solutions and layer-2 networks.
According to active addresses, this week’s fastest growing dApps in the Polygon network totaled 326,000. Proponents believe that decentralized applications on the Polygon network contribute to the development of the Web3 ecosystem. The MATIC network has witnessed an increase in transaction volume from dApps without the high transaction fees and network congestion hassles on the Ethereum network. The development team behind the MATIC token recently fixed the disruption in the operations of the blockchain network. The fix prevented network congestion on the blockchain of the MATIC network.
MATIC can break out of downtrend
Analysts evaluated the MATIC price trend and predicted a 36% increase in the Ethereum scaling solution’s token. The Polygon network believes that MATIC can break out of the downtrend. FXStreet analysts point out that the MATIC price trend always creates an ascending or ascending wedge before the falling wedge pattern. Therefore, the altcoin is poised for a breakout and analysts argue that MATIC has gathered liquidity and is poised for a high return. MATIC price could surpass $2.69 in the current uptrend before turning bearish. FXStreet analysts, whose views are given by Kriptokoin.com, predict that the MATIC price is ready for the rise in the ongoing cycle.
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