Token

Bitcoin

Polygon

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/matic-price-surges-as-pol-token-hypes-polygon-poised-for-more-gains/">MATIC Price Surges As POL Token Hypes! Polygon Poised For More Gains?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite the market leader, Bitcoin price, trading sideways for over a week, the altcoins have recorded massive price action recently. Polygon’s MATIC price has recorded a jump of over 5% within the past day and a significant 23% rise in its value within the past week. 
The Polygon ecosystem has gained significant attention following its news of releasing a new sister token named “POL.” This next-generation hyperproductive token is predicted to power the vast ecosystem of Layer-2 blockchain via re-staking protocol.&nbsp; 
The <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/">MATIC price</a> was seen trading below its key resistance of $0.550 for a brief period, following which the price gained momentum and broke out of the upper level. The price continued to gain momentum but was rejected at $0.6550. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/sXv7ZnU_J-TgAxM1cVygJ7HyHIHhLQ8OEeMbWUKTedXvATPDCRGUimwoo3ab_zZeySpIuyOO_C-aubnz0wS2ElYBDPjOi7F-xCsZuRyRLe33DV1PW4aEuaIgJgVhJFCa2doJ0dYduMlg5HFRBo3cPmGUC6Y-umC_FNzVQF2RP6sVW6EyXRGKDKU1HfrFcg" alt="Polygon Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: MATIC/USDT
 </figcaption>
</figure> 
After that, the price traded in a consolidated range between $0.6095 and $0.6550 for a week. The Polygon MATIC token regained momentum and successfully broke out of the level. The price experienced a minor correction at $0.7408, resulting in the coin retesting its $0.70 mark. 
Following this, the price started trading under the bullish influence and broke out of its upper level and is expected to test the $0.80 level in the coming time. 
The 50-day EMA acts as a dynamic support to the MATIC price, indicating a high possibility of bullish price action in the coming time. 
The MACD has displayed a positive price action since the month started, as the indicator shows a constant green histogram, indicating an ongoing massive price action. Further, the averages display a rising pattern, suggesting the price will continue gaining value in the coming days. 
<h2 class="wp-block-heading" id="h-will-matic-price-hit-0-8-soon">Will MATIC Price Hit $0.8 Soon?</h2> 
If the bulls push the price above the $0.78 mark, the price will continue to gain momentum and make a run to test its resistance level of $0.78 soon. Maintaining the price at that level will set the stage for the market to attempt Polygon’s upper resistance level of $0.800 in the coming days. 
If the Polygon’s “POL” token gains massive attention in the coming days, the MATIC price will experience a strong bullish influence and make a run to test the $1 mark before the year-end. 
Conversely, if the crypto bears overpowered the bulls, the MATIC price fails to hold its price above $0.7408. It will lose momentum and fall to test its lower support level of $0.700 soon. 
Moreover, if the bears dominate the market, Polygon crypto will continue to bleed and test its crucial support level at $0.6550 this month.

MATIC Price Surges As POL Token Hypes! Polygon Poised For More Gains?

目录

CoinPedia News

发布于 2023年11月8日的其他文章

Governance Tokens: Explainer for Dummies

Ripple, Onafriq partner for new payment corridors for Africa, UK, Australia and Gulf

Router Nitro’s Architecture

ARB’s Price Fluttering Amid Bullish Signs: Is A Reversal On The Cards?

Binance Introduces High-Yield USDT Earning Program in Competitive Market

Binance Adjusts its ORDI Description Following Several Call-Outs

订阅我们免费的电子期刊，获取每日最新加密领域动态！