MATIC Price Hits $1.17 With Growing Adoption, But Faces Possible Correction as Momentum Slows

MATIC's price has risen to $1.17 on the back of increasing active addresses and close correlation with Ethereum price
Active addresses grew 60% in the last 30 days, historically tied to price increases
However, active address growth is plateauing which may signal upcoming consolidation or correction
MATIC has historically closely tracked Ethereum price, with a 0.95 correlation coefficient currently
Price target of $1.24 is forecasted based on Ethereum momentum, but disparity in growth rates may mean upside potential for MATIC