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Polygon $0.967 -3.65% (MATIC) exhibits a significant rally of 23% in just 24 hours, piercing the $1 barrier for the first time since February 2025. Indeed, over the last week MATIC has nearly reached its December 2025 high at $1.10. Will it break out and accelerate its increase? The weekly time frame technical analysis shows the MATIC price Polygon’s price surged by over 23% in the last 24 hours, reaching $1.07 as of 4:30 AM EST, while its daily trading volume skyrocketed by 180%, climbing up to $2.28 billion. Giving waves one and three a 1:1 ratio will lead to a high of $1.55, 55% above the current MATIC price. If wave three extends to 1.61 times the length of wave one, it Polygon (MATIC) has rallied 23% in the last 24 hours, breaching the $1 mark for the first time since February 2025. Moreover, the token is up by over 37% in the weekly charts and 43% in Polygon (MATIC) price has gained 12% in the past week. Although it is currently having a hard time breaking above the $1 support line, on-chain data suggests that As per the data available on Cryptoquant, Polygon’s exchange reserves saw a spike of 8% in the last seven days. This indicates an intense selling pressure for the token.

Polygon (MATIC) Spikes 23% to $1.07: Can it Hit $2 Next?

Polygon (MATIC) is making headlines! After a phenomenal surge, investors are asking: Can MATIC reach $2? Recent price action shows significant momentum. Polygon (MATIC) has rallied 23% in the last 24 hours, breaching the $1 mark for the first time since February 2025. This breakthrough has investors excited about the potential for further gains.

MATIC Price Analysis: Why the Surge?

Polygon $0.967 -3.65% (MATIC) exhibits a significant rally of 23% in just 24 hours, piercing the $1 barrier for the first time since February 2025. Indeed, over the last week MATIC has nearly reached its December 2025 high at $1.10. This surge is fueled by several factors, including increased trading volume and positive market sentiment. Polygon’s price surged by over 23% in the last 24 hours, reaching $1.07 as of 4:30 AM EST, while its daily trading volume skyrocketed by 180%, climbing up to $2.28 billion.

Will MATIC Break Out and Reach $2?

The big question remains: can MATIC sustain this momentum and push towards $2? Technical analysis suggests potential for continued growth. The weekly time frame technical analysis shows the MATIC price. However, some indicators suggest caution. Giving waves one and three a 1:1 ratio will lead to a high of $1.55, 55% above the current MATIC price. If wave three extends to 1.61 times the length of wave one, it is possible, but not guaranteed.

Analyzing On-Chain Data

On-chain data provides further insights into MATIC's price movement. Polygon (MATIC) price has gained 12% in the past week. Although it is currently having a hard time breaking above the $1 support line, on-chain data suggests that. As per the data available on Cryptoquant, Polygon’s exchange reserves saw a spike of 8% in the last seven days. This indicates an intense selling pressure for the token. This increase in selling pressure could potentially hinder MATIC's upward trajectory. It's crucial to monitor these metrics closely.

Conclusion: Is $2 in Sight?

While the recent 23% spike to $1.07 is undoubtedly encouraging, reaching $2 will require sustained buying pressure and positive market conditions. Keep a close eye on technical indicators, on-chain data, and overall crypto market sentiment to make informed investment decisions. Moreover, the token is up by over 37% in the weekly charts and 43% in. The possibility is there, but requires careful observation.

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