The dramatic increase in the price of MATIC on December 13 creates a very good foundation for a short-term bull rally. While this positive movement may lose momentum down the line, the current situation in the market is quite favorable.
Polygon has been doing quite well in the market thanks to multiple announcements about new exciting partnerships like the one with Walmart made public just a week ago. It seems that retail traders kept their hopes down during the week when assets stabilized.
Can we see even bigger growth?
The immediate future for Polygon does seem good. The price correction will be incredibly painful to many investors holding long positions on MATIC.
However, the general course of the asset shapes up to be a positive one with a good chance of another rally within the next month. Since the beginning of December, the price of MATIC has been searching for a good equilibrium, and the mean value of $0.9 seems to be it.
While we should not expect any explosive movements, the future of the Polygon platform looks like the one promising returns in the long run. The immediate future seems to be secure, and sound with more partnerships on their way.
If the token manages to withstand the volatility caused by the fallout of the FTX debacle, we see a good opportunity for bulls to regain some lost ground.
Making any predictions in the current atmosphere of FUD is a bad idea, but Polygon is uniquely positioned to make a change in the market thanks to its great partnerships with larger brands and a well-paced development process.
Polygon outperforms many coins
The price chart may look a bit wonky, but the price has been stabilizing well despite the commotion in the crypto market. Many coins managed to recover and prepare for a new bull run, but it looks like MATIC may be among the first coins to finally break the downward trajectory for good. It may aim for higher support levels amidst the never-ending crypto winter.