Polygon (MATIC) value may double by the top of 2022 or early 2023 attributable to a mixture of extraordinarily bullish elementary and technical indicators.

Polygon wins high-profile purchasers 

MATIC rose by almost 6.5% 4 days after Nubank, a Brazilian fintech firm backed by Warren Buffett’s Berkshire Hathaway and Softbank, confirmed that it chosen Polygon’s “Supernets know-how” for its blockchain and digital token dubbed Nucoin.

“Nubank plans to airdrop the digital token to its clients within the first half of 2023,” the official announcement learn, including:

“These tokens would be the foundation for its clients’ loyalty rewards program and can have advantages corresponding to reductions and different benefits.”

#Polygon is taking @Nubank from #Web2 ➡️ #Web3!

In a strategic partnership with Polygon, Nubank is launching its personal chain utilizing #PolygonSupernets & thus its digital token Nucoin #onPolygon

This transfer will open the gateway for 70 mn+ Nubank customers to the #Web3 house pic.twitter.com/Fu06Vi7IpV

— Polygon – MATIC (@0xPolygon) October 19, 2022

Because of the rally, MATIC was altering fingers for $0.90 on Oct. 24, its highest degree in three weeks.

Polygon Supernets is an enterprise-level answer that removes the complexity of blockchain improvement for corporations seeking to construct their native chains. Apparently, earlier than Nubank, gaming firm GameSwift employed the product to launch its customized blockchain.

The rising demand for Polygon merchandise might deliver an identical growth for its native token MATIC, which serves as a utility and staking asset throughout the Polygon blockchain ecosystem.

MATIC eyes bull flag breakout

The Nubank information surfaces as MATIC paints what seems to be a bullish continuation sample on its lower-timeframe chart.

Dubbed “bull flag,” the sample emerges when the worth consolidates inside a parallel, descending channel after a powerful transfer upward. As a rule, it resolves after the worth breaks out of the vary to the upside and rises by as a lot because the earlier uptrend’s peak.

Subsequently, MATIC’s breakout above the flag’s higher trendline may have it take a look at $1.85 as its main upside goal. In different phrases, a 100% value rally by the top of 2022 or at first of 2023.

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Conversely, a pullback from the flag’s higher trendline could lead on MATIC towards the decrease trendline close to $0.67.

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