Polygon (previously Matic Network) is the first user-friendly, well-structured Ethereum scaling and infrastructure building platform. It can be used to create Optimistic Rollup chains, ZK Rollup chains, etc.
Polygon successfully converts Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is similar to others such as Polkadot, Cosmos, Avalanche, and others, but it benefits from Ethereum’s security, vibrant ecosystem, and openness. The existing ecosystem based on the Plasma-POS chain will remain unchanged. It is expanding its ability to cater to diverse needs from the developer ecosystem. It will continue to improve the core technology in order for it to scale to a larger ecosystem. The MATIC token will remain indefinitely and will play an increasingly vital role in the system’s security and governance. Let us review the MATIC price
MATIC Price Prediction
Bullish Scenario: On a smaller time frame, such as the 4hour(4H), MATIC has broken the bearish downtrend line and is now trading above the $1.33 support zone. If it remains above this zone and the $1.56 resistance level is broken, we may see a move towards $1.75, $1.91, $2.09, and higher.
Bearish Scenario: MATIC has been in a downtrend channel for a few weeks now, and we are not out of the woods yet to have a strong bullish bias. MATIC is still in a downtrend on longer time frames such as daily, weekly, and monthly. Failure to hold the support at $1.33 and a break below $1.14 could result in a drop to $1, $0.79, and even lower.
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