Future

Bitcoin

USDC

Polygon

Coin

<a href="https://en.coin-turk.com/the-time-is-coming-watch-out-for-bitcoin-btc-and-cryptocurrencies-on-may-11/" data-wpel-link="internal">Bitcoin</a> price dropped to $33,500 at the time of writing this article, while gold surpassed $2,000 for the first time since May. Investors are concerned about the possibility of a new correction after the king cryptocurrency’s recent resistance test. If this happens, the $32,800 and $32,000 regions could be tested. So, what about the situation with MATIC Coin? 
In 2022, while altcoins were taking devastating hits, Polygon (MATIC) had a relatively good year with its partnership announcements. Bulls broke through the $0.6 resistance area, but the BTC downturn is making it difficult. The price broke the resistance line, albeit with a delay, on September 29. On the other hand, we saw some good news supporting the price increase. 
<img decoding="async" class="size-full wp-image-271052 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/MATIC-Coin-Fiyat-Analiz.png" alt="" width="1887" height="776"> 
It was announced that the network’s performance will increase by 30% with the Miden Virtual Machine version. The team also announced that they triggered the 10-day time lock of the latest upgrade of the Mainnet, Inca Berry. On the other hand, <a href="https://en.coin-turk.com/binance-announces-burn-of-inactive-binance-peg-tokens-releases-equivalent-amount-on-its-network/" data-wpel-link="internal">Binance</a> launched USDC trade service on the network. 
<h2 style="text-align: justify" id="matic-coin-price-prediction">MATIC Coin Price Prediction</h2> 
Technical readings on the weekly chart suggest that the uptrend may continue. In September, the MATIC price fell below the long-term horizontal support area of $0.60. However, the price quickly reclaimed the region, which remained as a deviation. If the closings below it had continued, investors could have turned to panic selling for deeper lows. 
If the MATIC Coin price continues to rise, it confirms that the $0.6 region has been clearly reclaimed, and the last breakout remains as a deviation. Afterwards, the price is expected to reach $0.85. Popular crypto <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">analyst</a> Crypto_Scient also supported the possibility of double-digit growth with a similar prediction. 
<img decoding="async" class="size-full wp-image-271053 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/MATIC-Coin-Fiyat-Analiz-2.png" alt="" width="1728" height="822"> 
But there is a problem. The surprise drop in BTC price, the recent exits from altcoins today, and the ongoing decline in cumulative volume can turn the overall market sentiment negative. If BTC loses the $33,000 region, MATIC Coin investors may rush to sell, considering the risk of further decline. 
If the weekly closing is below $0.6, there is a potential for a double-digit decline in the opposite direction. The clear target is $0.35. 
<div class="sorumluluk_reddi" style="text-align: justify">
 Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility and therefore the risk associated with cryptocurrencies and should conduct their own research.
</div> Continue Reading: <a href="https://en.coin-turk.com/promising-signal-about-the-recent-decline-of-bitcoin-and-the-future-of-matic-coin/" data-wpel-link="internal">https://en.coin-turk.com/promising-signal-about-the-recent-decline-of-bitcoin-and-the-future-of-matic-coin/</a>

Promising Signal About the Recent Decline of Bitcoin and the Future of MATIC Coin

Table of Contents

COINTURK NEWS

Other articles published on Oct 27, 2023

Bitcoin Price Analysis: Why Can’t Bitcoin Break $35,000 Permanently?

Dogecoin (DOGE) to Moon? X to Implement Full Financial Service by 2024

Kraken to start sharing user data with IRS

Financial Advisors Pivot: From 1% to 5% Bitcoin Allocation?

How Blockchain Could Revolutionize The Telecom Carrier Industry

In a final attempt to dismiss the regulator’s lawsuit, Coinbase contests the SEC’s jurisdiction o...

Join our free newsletter for daily crypto updates!