Top market analyst Ali Martinez has identified Polygon (MATIC) as a potential candidate for a bullish breakout, with the possibility of reaching $1. According to Martinez, the TD Sequential indicator on the daily MATIC chart has signaled a buy order, indicating a potential trend reversal following a significant sell-off period.

As of now, MATIC is priced at $0.8675, showing a 3.57% decrease over the past 24 hours. The recent bearish trend in Polygon has been ongoing for the past seven days, with a steep decline observed after a brief period of bullish consolidation. Martinez believes that if MATIC manages to maintain a price above $0.87, it could gather enough momentum to surpass the $1 resistance level.

Polygon is considered a prominent Ethereum layer 2 chain in the market, known for its collaborations with other blockchain projects. Its strong ecosystem and developments contribute to the demand for MATIC, potentially allowing it to break free from the broader market's bearish trend.

Additionally, the upcoming upgrade of MATIC to POL is seen as a positive fundamental development that could further boost the token's price in the long run.