Polygon (POL) Price Prediction: The public chain is about to undergo a major upgrade, and indicators suggest a continued bullish momentum in the short term.

Polygon (POL) today (9) continues its upward trend in the European morning session, currently reported at 0.202 USD, having risen nearly 9% so far this week. This price surge comes just as the highly anticipated Heimdall v2 upgrade is set to be released on Thursday, which is expected to boost investor confidence and improve network performance. From a technical perspective, the Momentum Index indicates a bullish outlook, suggesting that the upward trend may continue in the short term.

Heimdall v2 public chain upgrade can enhance its network performance

Polygon will implement the Heimdall v2 upgrade on Thursday, aiming to reduce finality and eliminate technical debt.

Polygon CEO Sandeep Nailwal stated in a post on X on Tuesday that this upgrade is "the most complex technical hard fork that Polygon PoS has experienced since its launch in 2020."

Sandeep continued to state that this update is expected to eliminate all technical debt from previous versions between 2018 and 2019, and will ultimately shorten the time to about 5 seconds.

The Heimdall upgrade enables faster checkpoints, a smoother user experience, more secure bridging, and provides room for the next wave of upgrades, thereby enhancing investor confidence and driving the price of its native token POL up.

POL Price Prediction: Breakthrough Key Resistance Zone

FXStreet analyst Manish Chhetri stated that POL attempted to break through a downward trend line on Wednesday, which is formed by connecting multiple highs since mid-May. This level roughly coincides with the daily resistance at $0.197 and the 50-day exponential moving average (EMA) at $0.199, making it a crucial resistance area.

If POL's daily closing price is above the 50-day EMA of 0.199 USD, it may continue to pump, extending towards the 50% Fibonacci retracement level (from the high of 0.277 USD on May 11 to the low of 0.164 USD on June 22), which is 0.20 USD.

On the daily chart, the Relative Strength Index (RSI) is at 56 and pointing upward, indicating that bullish momentum is strengthening. Additionally, the Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on June 29. This indicator also shows the green histogram rising above the neutral zero line, indicating that bullish momentum is strengthening and continuing the upward trend.

However, if POL faces a pullback, it may continue the downtrend and retest the next daily support level of 0.188 dollars.

(Source: Trading View)