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The cryptocurrency market has continued its glorious begin to the brand new week, with most cash up by greater than 4% within the final 24 hours.
The new week is shaping out to be a optimistic one for the broader cryptocurrency market. The market has added almost 6% to its worth within the final 24 hours, and the entire market cap now stands above $915 billion.
Bitcoin lastly crossed the $20k psychological degree after including greater than 6% to its worth. Ether is closing in on the $1,200 resistance degree and is up by greater than 10% within the final 24 hours.
MATIC, the native token of the Polygon ecosystem, is the perfect performer amongst the highest 20 cryptocurrencies by market cap. MATIC has added greater than 15% to its worth within the final 24 hours and at the moment trades above $0.530 per coin.
The rally will be attributed to the talks on Web3 adoption by Polygon co-founder Mihailo Bjelic on Monday. According to Bjelic, mass adoption of Web3 will occur on cellular, and Polygon is making ready to play an important position on this improvement.
Mass adoption of Web3 will occur on cellular and @0xPolygon is making ready for it.
Our technique is to not make our personal units. Instead, we’ll combine with present producers.
Today, we’re proud to announce the primary main integration.
Onwards. 🔥https://t.co/sGCfTm6v7P
— Mihailo Bjelic (@MihailoBjelic) July 4, 2022
The tweet was accompanied by a hyperlink to the announcement that HTC had launched a metaverse cellphone with Polygon and Ethereum help.
Key ranges to observe
The MATIC/USD 4-hour chart is bullish as MATIC has been performing effectively over the previous 48 hours.
The MACD line crossed into the optimistic zone a couple of hours in the past, indicating bullish momentum. The 14-day RSI of 64 reveals that MATIC may quickly enter the overbought area if the rally continues.
MATIC may surge previous the primary main resistance degree at $0.629 earlier than the top of the day. In the occasion of prolonged bullish efficiency, MATIC may goal the $0.70 degree for the primary time this month.
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