2024

altFINS

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Polygon

<p>Polygon extended its strong 2024 performance by rallying over 6% in the last 24 hours. MATIC currently trades at $0.87 after bouncing off support at $0.82. Its market cap stands above $8.4 billion.</p> 
<p>Driving Polygon’s ongoing momentum is a series of network upgrade announcements alongside improving sentiment and technicals around the wider altcoin market.</p> 
<h2 class="wp-block-heading" id="strong-fundamental-catalysts-zkevm-and-aggregation-milestones-strong"><strong>Fundamental Catalysts: zkEVM and Aggregation Milestones</strong></h2> 
<p>From a development activity perspective, Polygon <a href="https://twitter.com/0xPolygon/status/1755654150010855802" target="_blank" rel="noreferrer noopener nofollow">launched</a> a major zero-knowledge EVM (zkEVM) upgrade dubbed Type-1 this week. This introduces advanced cryptography to enable private transactions at a fraction of the cost of Ethereum.</p> 
<p>Additionally, the team <a href="https://twitter.com/0xPolygon/status/1757169195626672640" target="_blank" rel="noreferrer noopener nofollow">confirmed</a> its much-anticipated Aggregation v1 mainnet upgrade will go live on February 23rd. This functionality will allow seamless transfers between Polygon and other EVM-compatible chains, forming a multi-chain ecosystem.</p> 
<p>These ongoing upgrades continue to cement Polygon’s reputation as the leading Layer-2 scaling solution for Ethereum, – reflected in its price outperformance.</p>  
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<h2 class="wp-block-heading" id="strong-technical-analysis-breakout-imminent-strong"><strong>Technical Analysis: Breakout Imminent</strong></h2> 
<p>Analyzing MATIC’s medium-term price action, analyst Mohsin Ali <a href="https://twitter.com/Mohsin_71/status/1757023497803452530" target="_blank" rel="noreferrer noopener nofollow">points to</a> a bullish setup targeting the $1.09 level in the short term. This aligns with altFINS’ view of identifying a bullish sideways channel between $0.75 and $1.</p> 
<p>AltFINS suggests swing traders enter longs near channel support around $0.75 and book profits near the $1 resistance. The pattern offers a potential 35% gain if executed correctly.</p> 
<p>Notably, MATIC appears on the verge of breaking above the topside channel resistance and 200-day moving average around $1. According to altFINS, such a decisive action could pave the way for a $1.25 retest.</p> 
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<p><em>Source: </em><strong><a class="thirstylink" rel="nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p>With Polygon firing on all cylinders, both from a development and community perspective, and a constructive chart setup, the stage looks set for MATIC to continue outperforming the market.</p> 
<p>Savvy traders can look to time entries during temporary dips with a combination of on-chain and technical analysis. MATIC’s dedicated leadership team continues to set the bar for Ethereum’s scaling solutions.</p> 
<p>You may also be interested in:</p> 
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 <li><a href="https://captainaltcoin.com/why-is-quickswap-quick-price-pumping/" target="_blank" rel="noreferrer noopener">Why is QuickSwap (QUICK) Price Pumping?</a></li> 
 <li><a href="https://captainaltcoin.com/deestream-dst-binance-coin-bnb-and-solana-sol-make-gains-but-why-is-new-streaming-presale-stealing-the-headlines/" target="_blank" rel="noreferrer noopener">DeeStream (DST), Binance Coin (BNB), and Solana (SOL) make gains but why is new streaming presale stealing the headlines?</a></li> 
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<p>The post <a href="https://captainaltcoin.com/why-is-polygon-matic-price-up-2/">Why is Polygon (MATIC) Price Up?</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why is Polygon (MATIC) Price Up?

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