While the cryptocurrency market is between moderate gains and red losses, one altcoin stands out strongly on the charts. This is MATIC, the cryptocurrency of the Polygon network, which in the last few hours has registered a price increase that flirts between 17% and 25%.

Thanks to this increase, the currency, which did not exceed 0.8 cents on the dollar, is now trading at 1.06 dollars. It is the first time this year, after its precipitous fall in February, that MATIC managed to recover the level of the dollar.

Recall that MATIC, along with other altcoins in the market such as Cardano and Ripple, were accused by the Securities and Exchange Commission (SEC) of being unregistered securities. With a lawsuit pending, this crypto group has recorded a tough year marked by losses.

Despite its excellent performance in the last few hours, some traders believe that it can still MATIC reach better prices. For example, trader Doctor Profit states that cryptocurrency "is one of the most undervalued projects out there."

For this reason, he believes that it still has enough room to continue growing, even going so far as to suggest that in the next bullish rally MATIC would be able to reach double digits. A slightly closer look in time is given by analyst Ali_charts, who assures that the Polygon altcoin is soon to break its downtrend and consolidate on a rise.