Bitcoin

Polygon

Avalanche

<p>After reaching the peak of $45,000, <a href="https://cryptodaily.co.uk/tag/bitcoin" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> swiftly demonstrated its inherent volatility, plummeting by 7.5% to $40,000 early on Monday amidst a broader cryptocurrency selloff. However, the leading crypto later staged a recovery, regaining 3.6% to hover around the $42,000 mark. Experts attribute the fall to market deleveraging rather than a specific fundamental news catalyst. Investors are attentively monitoring upcoming US inflation data and the Federal Reserve&#39;s final policy meeting of 2023, anticipating potential impacts on the market dynamics. Against this backdrop, Avalanche (AVAX) and Polygon (MATIC) have captured investors&#39; attention with their distinctive movements. Both cryptocurrencies exhibit a bullish outlook, with most analysts predicting robust gains in the near term. What insights can technical indicators provide in this context?</p><p>Emerging projects represent a unique niche to watch, as the true potential of crypto gems remains hidden. Investors seeking promising coins at favorable prices should take a closer look at <a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;AVAXMATIC" rel="noopener noreferrer nofollow">ScapesMania (MANIA).</a> This project still offers significant discounts on its native tokens, presenting a time-sensitive opportunity for those looking to make a strategic entry.</p><h2 id="header-0">Ride The Wave Of Innovation With ScapesMania</h2><p>While some are facing an uncertain future, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make <a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;AVAXMATIC" rel="noopener noreferrer nofollow">ScapesMania</a> the next big thing in crypto. Presale discounts and stage bonuses only add to the project&#39;s appeal.</p><h2 id="header-1"><img src="https://academy-public.coinmarketcap.com/optimized-uploads/de7934c0ec4f41d582a58a477b15418e.png" /></h2><p>Presale is Live Now - Join Now for a Chance to Benefit with MANIA</p><p>Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.</p><p><a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;AVAXMATIC" rel="noopener noreferrer nofollow">Presale is Live, Learn More About Major Benefits</a></p><h2 id="header-2">Avalanche (AVAX) Price Analysis</h2><p>The news about <a href="https://cryptodaily.co.uk/tag/avalanche" rel="noopener noreferrer nofollow">Avalanche</a> allocating substantial resources to incentivize its validators can fuel a bullish run in its native token. Reportedly, the platform disbursed over $275 million in AVAX to reward its validators over the past year, despite generating only $11.5 million in user fees. However, this expense did not affect the network’s market cap that exceeds $9.8 billion, securing it a position in the top 10 in terms of liquidity. By offering attractive rewards to validators, Avalanche ensures a robust pool of nodes, essential for maintaining the network&#39;s operational integrity.</p><p>As of the latest update, the AVAX price is hovering around $36. The cryptocurrency has demonstrated outstanding performance, experiencing a staggering 62% surge in the past week and an impressive 142% increase over the last month.</p><p>Technical indicators suggest a favorable outlook for AVAX. The Momentum indicator at −1.266584121 and the Bull Bear Power at 0.131533053 are signaling a buy action. However, certain oscillators, such as the Relative Strength Index at 56 and the Stochastic %K at 57, remain neutral, indicating a lack of clear directional movement in AVAX.</p><p>The moving averages contribute to the positive assessment, with all indicators showing a bullish trend. The 10-day SMA at $34.33 and the 10-day EMA at $34.55 point towards the continuation of the uptrend in the near term. Looking ahead, there is also potential for a sustained rise in the longer term, with the 100-day SMA standing at $24.31 and the 100-day EMA at $25.70.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/3691ebb7e0c04a6c87388c91be901987.png" /></p><h2 id="header-3">Avalanche (AVAX) Price Prediction</h2><p>Examining pivot points provides insights into potential future movements in AVAX quotes. Should Avalanche successfully maintain its bullish momentum above the pivot point at $31.94, there&#39;s a potential upward trajectory towards the nearest resistance level at $43.17. A breakthrough beyond this level could propel the price to the subsequent threshold at $49.20.</p><p>Conversely, if a bearish scenario unfolds, and Avalanche succumbs to downward pressure, the price might decline towards the downside target at $25.91. Traders should closely monitor these levels for possible rebounds, as this zone presents opportunities for adjusting stop losses strategically.</p><h2 id="header-4">Polygon (MATIC) Price Analysis</h2><p>Sandeep Nailwal, co-founder of Polygon, has expressed a positive outlook on the future of the layer-2 blockchain amid the anticipated boom in 2024. It justifies the bullish sentiment surrounding <a href="https://cryptodaily.co.uk/tag/polygon" rel="noopener noreferrer nofollow">Polygon (MATIC)</a>.</p><p>As of the latest update, the MATIC price hovers around $0.85, prompting the key question of whether the coin can reach its long-awaited peak of $1. Over the past week, MATIC has gained 5%, with a modest increase of 1.6% in the last month.</p><p>Indicators such as the RSI and Stochastic oscillators suggest some market indecision, registering at 56 and 73, respectively. However, the MACD Level at 0.03 is more optimistic, providing buy signals.</p><p>A bullish outlook is reinforced by the analysis of the price position in relation to moving averages. The 10-day SMA at $0.848595457 and the 10-day EMA at $0.852972031 signal a call for buy action in the near term. Looking further ahead, the anticipation of a longer-term rise is supported by the 100-day EMA at $0.717061380 and the 100-day SMA at $0.651718819. These indicators collectively suggest a positive trajectory for MATIC in both the short and long term.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/7cd9c09afc8a49f59cc98990a2e83220.png" /></p><h2 id="header-5">Polygon (MATIC) Price Prediction</h2><p>If MATIC successfully breaches the initial resistance level at $0.88416996, it could pave the way for further upward momentum. The next potential target in this optimistic scenario is projected at $0.98454937. This would signify a continued positive trend, potentially driven by strong buying interest, favorable market sentiment, or other supportive factors. Traders and investors should closely monitor this breakout level for confirmation of a sustainable rise.</p><p>On the flip side, if MATIC faces a decline and slips below the support level of $0.82306082, it could indicate a shift in sentiment and trigger a bearish trend. In such a scenario, the next downside target is estimated at $0.72268141. This level should be closely watched as it represents a potential point of support, and traders may consider adjusting their strategies, including setting stop-loss orders.</p><h2 id="header-6">Conclusion</h2><p>The inherent volatility of digital assets has been highlighted by recent developments in the crypto space, particularly Bitcoin. The market sentiment is currently influenced by factors such as deleveraging and the anticipation of key events, including US inflation data and the Federal Reserve&#39;s final policy meeting in 2023. Amidst this backdrop, Avalanche (AVAX) and Polygon (MATIC) have attracted attention with their distinct movements. According to the technical analysis, these coins are poised to keep growing. However, one should always remember about the need for thorough research and risk management strategies. The cryptocurrency market is dynamic and influenced by various factors, and price forecasts may change due to market conditions.</p><p>Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.</p><p>RELATED TOPICS:  <a href="https://cryptodaily.co.uk/tag/altcoins" rel="noopener noreferrer nofollow">#ALTCOINS</a> <a href="https://cryptodaily.co.uk/tag/breaking-news" rel="noopener noreferrer nofollow">#BREAKING NEWS</a> <a href="https://cryptodaily.co.uk/tag/spotlight" rel="noopener noreferrer nofollow">#SPOTLIGHT</a></p>

Avalanche (AVAX) And Polygon (MATIC) Challenging Key Levels – Can They Achieve Dominance?

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