MATIC Blasts Off: 20% Surge As Polygon Trading Volume Hits Records
29 Dezember 2023 - 7:55AM
NEWSBTC
The global cryptocurrency market value has retraced to over $1.72
trillion, suggesting that the cryptocurrency industry has lost some
of its momentum in the last day. Furthermore, MATIC has not
seen any tiny losses, in contrast to the majority of prominent
digital assets, such as Bitcoin. As the Polygon protocol’s
supporters push for new yearly highs, MATIC is experiencing a
seismic change within its ecosystem, which has caused its price to
soar by more than 20% in early trading on Thursday. Related
Reading: Axie Infinity Springs Back To Life With Surprise 35% Rally
– Details MATIC Breaches $1 Barrier Based on the several milestones
in its ecosystem, Polygon has been indicating that it is prepared
to overcome the critical $0.9 pricing threshold. Following an
initial upward trend, MATIC made an unsuccessful attempt to break
out in February 2023. Before the price broke out this week, there
were two more failed breakout efforts in November and December. The
$1.07 peak on Wednesday is the highest since April. It is
noteworthy that MATIC has failed to close each week above the
resistance trend line. Furthermore, some analysts say that MATIC
may soon reach new peaks as it tries to keep a solid footing within
– or even past – the $1 territory. Doctor Profit, a user on
Twitter, is among those who endorse such theory. $MATIC is one of
the most undervalued projects out there. If I wouldnt have bought
tons of it at $0.50 I would heavily enter now as anything below $1
is a gift Sooner or later its an easy double digit coin in the
incoming bull. One of my favorite coins — Doctor Profit 🇨🇭
(@DrProfitCrypto) December 26, 2023 The expert called Polygon’s
coin “one of the most undervalued projects” in the market and
asserted that traders and investors should view its price below $1
as a “gift.” Polygon currently trading at $0.995805 territory.
Chart: TradingView.com Another expert, renowned cryptocurrency
researcher Ali Martinez, shows that, based on his evaluation, MATIC
is emerging from a symmetrical triangular formation. Martinez
thinks that a strong upward advance that might push MATIC towards
the $1.73 price level could occur if Polygon is able to maintain a
weekly candlestick close above the $0.96 threshold. #Polygon is on
the verge of a breakout from a symmetrical triangle. A sustained
weekly candlestick close above $0.96 could propel $MATIC towards
$1.73! pic.twitter.com/IZQHpSuqO6 — Ali (@ali_charts) December 26,
2023 Optimistic Outlook: MATIC’s Promising Trajectory According to
this analysis, Polygon has a bright future ahead of it, especially
if some important thresholds are broken. The X cryptocurrency
community is optimistic about the future of the MATIC price trend.
After bouncing off a long-term support region, Pentosh1 predicts
the price will keep moving upwards. $MATIC You can’t not like this
setup. Have no idea how long it it will take to play out, just that
it likely will probabilistically speaking Historical support
confluence, bull flagging for more. Yet to run but starting to find
it’s flippers https://t.co/AMI5e9wxZA pic.twitter.com/RESMqmHGeI —
Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) December 26, 2023 Related
Reading: $2 In Sight? Mina Protocol’s 47% Growth Raises Price
Target Hopes Meanwhile, Polygon’s trading volume has recently
increased dramatically. According to DefiLlama, it crossed the $150
million milestone since the middle of the month and reached around
$400 million on December 26. With its impressive performance,
Polygon’s native token MATIC has drawn attention as the protocol’s
trading volume reaches a new milestone. Featured image from
Shutterstock
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