Polygon (MATIC) Predicted to Soar 60% in Q2: Bullish On-Chain Metrics.

• Polygon’s token MATIC has experienced a 36% drop since the local peak of $1.56 on February 18.
• On-chain metrics are bullish, and technicals suggest an over 60% boost in Q2 for MATIC.
• The Dehli hard fork is also expected to further improve network performance.

Polygon’s MATIC Experiences 36% Drop

Polygon’s token MATIC has experienced a 36% drop since the local peak of $1.56 on February 18, sliding to $1.0 on April 27. However, several factors point to a bullish quarter for Polygon.

Bullish On-Chain Metrics

According to a quarterly performance report by the analytical platform Messari, the Polygon PoS chain recorded an average of 400,000 daily active addresses and added 22 million new addresses during the quarter. Furthermore, Polygon recorded a near-50% advance in market cap compared to Q4 2022, as the metric reached $10.2 billion by March 31st with total fees standing at 92%, reaching $11.8 million in the same period. Transaction volume remained consistent throughout the year despite the crypto drawdown. In addition, Polygon Labs is pursuing an aggressive business development strategy partnering with both Web3 and legacy companies, operating a venture arm, and developing a decentralized identity solution Poloyon ID.

Technicals Suggest Over 60% Boost

As mentioned above, MATIC formed a pattern dubbed the “rising channel” since May 2022 which entails two parallel trendlines and a relevant mid-range that take its price incrementally higher through consecutive support and resistance retests. The rising channel does not predict bias after leaving it however it can still be used to predict short-term fluctuations with MATIC repeatedly retesting its support line seeking additional assistance from the $0.96 line which has been relevant since May 2022.. If this channel remains applicable then MATIC could see an increase of up to 60%, potentially reaching target of approximately $1.7

Dehli Hard Fork Improves Network Performance

The upcoming Dehli hard fork is expected to improve network performance even further by introducing features such as cross-chain transfers between Ethereum mainnet and Polygon Layer 2 chains as well as improving existing transaction speeds from 15 transactions per second (TPS) up to 100 TPS . This will make it easier for developers from other blockchains such as Binance Smart Chain (BSC) or Tron (TRX) migrate their applications onto Polygon’s blockchain which could be beneficial for users due increased scalability and lower transaction costs than what normally paid at Ethereum mainnet gas prices .


Overall there are several factors that point towards Matics potential bullish quarter in Q2 possibly seeing prices reach levels of around $1/7 with on-chain metrics being favourable , technicals suggesting over 60% boost and Delhi hard fork providing improvements in terms of networks performance .