Polygon’s MATIC remains trapped by resistance but is the price bearish?

Polygon’s MATIC remains trapped by resistance but is the price bearish?
фото показано с : coinjournal.net

2022-8-17 21:32

Polygon is a Layer-2 scaling solution on the Ethereum network

The native token has been surging on the back of positive developments

The token is yet to break past a key resistance but remains bullish

Polygon MATIC/USD remains one of the most popular Layer-2 solutions on Ethereum. That raised speculations that Polygon would benefit from the upcoming Ethereum move to PoS. MATIC, the native token, has been surging lately. The token trades at $0.96, up from a low of $0.33 in mid-June. 

The utility of MATIC has also been growing, also fueling its surge. One notable development is the selection of Polygon for Disney’s accelerator program. Polygon was also a key beneficiary of the failed Terra network. The blockchain attracted at least 40 projects from the Terra network. The developments show the trust that Polygon enjoys that will continue to drive MATIC. 

To an investor, MATIC’s price movement makes key levels important to watch. That takes into account that the bullish momentum is weak, but the cryptocurrency holds previous gains.

MATIC rejected at resistance as price surge cools

Source – TradingView

The crossover of the MACD line below the moving average points to a correction of MATIC. The token was rejected at the $1.02 resistance. The resistance is the highest price attained since early May. The price remains supported by the 21-day and 50-day moving averages. MATIC has also maintained the uptrend.

Concluding thoughts

$1.02 is the key level to watch for MATIC buyers. The price needs to breach the resistance zone for buyers to enjoy a lasting bullish momentum. If that does not happen, MATIC will be vulnerable and continue to consolidate or slide. At the moment, investors should keep calm and wait for a potential breakout.

The post Polygon’s MATIC remains trapped by resistance but is the price bearish? appeared first on CoinJournal.

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polygon matic bearish price remains trapped resistance

Источник: coinjournal.net

polygon matic → Результатов: 126


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 Bulls Form Strong Support, Buys Record $5.8B MATIC at This Price; Cardano (ADA) Poised to Move +20% to Next Resistance

Crypto Analyst @ali_charts posted that most Polygon (MATIC) tokens were purchased between $0. 80 and $0. 86, with 42,000 addresses holding close to 5. 8 billion MATIC in this key demand zone. He notes that given the minimal resistance ahead, Polygon seems primed for a bull run as long as this level around $0.

2023-12-9 10:48


From Polygon NFT Wins To MATIC Gains: Understanding The Connection

Polygon has recently witnessed a remarkable surge in its non-fungible tokens (NFTs) sales volume and the influx of sellers participating in this burgeoning market. This growth in the NFT sector has sparked considerable interest and speculation among investors, prompting many to ponder the potential impact it may have on the price of MATIC, the native cryptocurrency of the Polygon network.

2023-7-22 16:15


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