Polygon (MATIC) Looks Set For A Retracement After Recent Gains
Polygon (MATIC) has been sky-high and gliding over the past month. Analysts are looking at a retracement to $0.58 if the coin goes below $0.77. Polygon, self-proclaimed as “Ethereum’s Internet of Blockchains” looks ready for a major move after it has skyrocketed in market value as seen in the past weeks. On the flipside, there is still a strong support zone that may anchor the coin to hold its price. MATIC is currently set in anticipation of a correction but is still has to break the support line. It has been on an upswing and has spiked by more than 200% after it bounced back from a....
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Polygon was one of Tuesday’s notable gainers, as the token rose to its highest point since mid-September. Today’s surge saw prices of the cryptocurrency rise for a third straight session. Cosmos also extended recent gains, climbing to its strongest point in recent days.
Polygon (MATIC)
Polygon (MATIC) was a notable gainer on Tuesday, as the token rallied for a third consecutive day.
MATIC/USD surged to an intraday peak of $0.876 earlier in today’s session, less than a day after trading at a low of $0.8293.
This move saw the token climb....
After its bullish shindig seen last week, Polygon (MATIC) price is now going the opposite direction as it continues to plunge to $0.60. MATIC is seen to have plummeted by more than 20% in comparison to its peak high of $0.97 as seen in the past couple of days. The coin’s price has dropped below the support line of $.080 and shows no sign of a slowdown. The MATIC/USD has declined by 3.66% or at $0.74 as of this writing. CoinMarketCap is also showing a 10% slump in the 24-hour trading volume which is at $815,456. On the brighter side, the daily chart shows the MATIC price going for a bullish....
MATIC, the native token of Polygon, is the highest performing cryptocurrency in CoinMarketCap’s top 50 list by market capitalization over the past 24 hours, with gains of about 20%. MATIC reached its highest level since early June, in the mid-$6.0 range, a day after Polygon was selected for Walt Disney’s benchmark business growth program. According to a Disney release, Polygon is one of the six organizations that will participate in the company’s 2022 Accelerator Program, a business and development initiative created to promote the expansion of creative businesses....
MATIC’s price slowed down after showing so much strength as it rallied to a high of $0.97 but got rejected as the price rallied downward. MATIC could suffer retracement as the price site on a crucial support area, holding the price off from sellers with hopes of a rebound. MATIC’s price remains strong on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA). The price of Polygon (MATIC) showed some incredible price action as the price rallied from a low of $0.35 to a high of $1.2 before facing a rejection back to its key support of $0.77,....
In a time of many new crypto coins, platforms, and contracts, Polygon is starting to pave a way and rise to the throne of Ethereum layer 2s. Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks. With recent headlines surrounding both Polygon and correlating Ethereum, it’s wise to get an in-depth perspective on Polygon’s market positioning for those interested in Ethereum alternatives. Related Reading | Why Cardano Is....