Polygon’s MATIC recovers support. What next?

2022-10-4 19:45

Polygon’s native token MATIC has gained by 8.00%, underlining solid recovery.

Brokerage firm Robinhood said it would launch its Web3 wallet on Polygon

Bulls are in control, but it remains to be seen of price action at $0.90 and trendline

Polygon’s MATIC/USD could be back to winning ways if the latest gains are to go by. As of press time, MATIC had added 8.00% and looked increasingly bullish. There has been a string of positive developments for the Ethereum Layer-2 scaling solution. Let’s look at the latest.

Robinhood, an online brokerage firm that promises commission-free trading, remains a retail darling. Although the popular trading platform has taken a hit this year, it always elicits excitement on major news.

On September 27, Robinhood announced its Web3 wallet would launch on Polygon. That comes after, earlier, launching MATIC transactions on Polygon. However, MATIC remained largely bearish in September, coinciding with the weak crypto sentiment.

MATIC outlook as recovery continues above $0.76 support

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If we turn to the technical side, MATIC has recovered the $0.76 support after the price slipped temporarily below. The level remains crucial to a technical reader since bulls have defended it since July. The latest surge could imply that buyers are getting active.

Source – TradingView

Looking at the moving average, MATIC has recovered above the 20-day MA. It is also moving above the 50-day MA. The MACD indicator remains in the bear zone but shows a bullish building momentum. However, MATIC remains trapped by a short-term descending trendline.

Concluding thoughts

A bull case scenario for MATIC could be confirmed by a bullish moving average crossover. The price has to move above the short-term descending trendline. Otherwise, a price rejection at the descending trendline would invalidate any bullish bias. 

Another price point of interest is $0.90. It coincides with a minor resistance and could force a correction.

The post Polygon’s MATIC recovers support. What next? appeared first on CoinJournal.

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Matic Network (MATIC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.5485
Капитализация $0 Rank 99999
Цена в час новости $ 0.8391 (-100%)

polygon matic recovers support firm robinhood coinjournal

Источник: coinjournal.net

polygon matic → Результатов: 126


Фото:

Трансформация Polygon: от MATIC к POL, и эволюция к агрегированному Web3

Есть предложение по подключению Polygon PoS к механизму AggLayer. Миграция токена MATIC в POL представляет собой не просто техническую модернизацию, а фундаментальный сдвиг в парадигме развития сети Polygon.

2024-9-9 14:56


Polygon (MATIC) Nears Resistance Level; Whales Eye Avalanche (AVAX) and InQubeta (QUBE), an Emerging AI Altcoin

The crypto scene isn’t short of excitement, from GoDaddy’s recent integration with ENS to Wormhole’s snapshot of its upcoming massive airdrop to Bitcoin hitting $50,000. With the overall market on the rise, altcoins have been gaining traction, with Polygon (MATIC) about to break the $1 resistance level.

2024-2-23 23:00


Polygon’s MATIC Price Faces Potential Downturn Due to Major Holder’s Sales

Polygon holders were left scratching their heads today as Polygon’s native token MATIC faced selling pressure seemingly out of the blue. The selloff might came on the heels of a report from on-chain analytics platform Spot On Chain, which revealed that wallet address 0xa31 – linked to layer-2 scaling protocol Hermez Network which was acquired […] The post Polygon’s MATIC Price Faces Potential Downturn Due to Major Holder’s Sales appeared first on CaptainAltcoin.

2024-2-17 11:34


Polygon Spikes 6.5% In Last 24 Hours As MATIC Investors See Bullish Momentum

Polygon (MATIC) is currently having a rally of its own as it recovered from its range low of $0. 721 recorded last September 22. MATIC is the only asset in top 20 cryptocurrencies to record double-digit gains for the past week Buyers are back and so is the buying pressure, propelling the asset to go higher Polygon now has two versions of SynFutures mainnet At press time, data from CoinGecko shows the crypto is trading at $0.

2022-10-5 15:51


How far can MATIC climb as Polygon works with Shopping.io to integrate it for payments?

Polygon has begun working with Shopping. io as a means of integrating the MATIC cryptocurrency as a form of payment on the platform. Polygon (MATIC/USD) is essentially a platform purpose-built to scale Ethereum (ETH/USD) and provide an infrastructure on top of which developers can create numerous decentralized applications (dApps).

2022-10-6 13:18


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