{"id":6759,"date":"2022-08-17T01:01:54","date_gmt":"2022-08-17T01:01:54","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/08\/17\/polygons-matic-remains-trapped-by-resistance-but-is-the-price-bearish\/"},"modified":"2022-08-17T01:01:55","modified_gmt":"2022-08-17T01:01:55","slug":"polygons-matic-remains-trapped-by-resistance-but-is-the-price-bearish","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/08\/17\/polygons-matic-remains-trapped-by-resistance-but-is-the-price-bearish\/","title":{"rendered":"Polygon\u2019s MATIC remains trapped by resistance but is the price bearish?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<ul style=\"margin-top:0;margin-bottom:0\">\n<li>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt\">Polygon is a Layer-2 scaling resolution on the Ethereum community<\/p>\n<\/li>\n<li>\n<p>The native token has been surging on the again of optimistic developments<\/p>\n<\/li>\n<li>\n<p>The token is but to interrupt previous a key resistance but remains bullish<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:8pt\">Polygon MATIC\/USD remains one in all the hottest Layer-2 options on Ethereum. That raised speculations that Polygon would profit from the upcoming Ethereum transfer to PoS. MATIC, the native token, has been surging currently. The token trades at $0.96, up from a low of $0.33 in mid-June.\u00a0<\/p>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:8pt\">The utility of MATIC has additionally been rising, additionally fueling its surge. One notable growth is the number of Polygon for Disney\u2019s accelerator program. Polygon was additionally a key beneficiary of the failed Terra community. The blockchain attracted a minimum of 40 tasks from the Terra community. The developments present the belief that Polygon enjoys that can proceed to drive MATIC.\u00a0<\/p>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:8pt\">To an investor, MATIC\u2019s price motion makes key ranges essential to observe. That takes under consideration that the bullish momentum is weak, but the cryptocurrency holds earlier beneficial properties.<\/p>\n<h2 style=\"line-height:1.2;margin-top:18pt;margin-bottom:4pt\">MATIC rejected at resistance as price surge cools<\/h2>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:8pt\"><img decoding=\"async\" src=\"https:\/\/media.igms.io\/2022\/07\/16\/1660674745852-d37ba6bf-49d0-4f64-a647-76aaa8c4593a.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\"\/><\/p>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:8pt\">Source \u2013 TradingView<\/p>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:8pt\">The crossover of the MACD line beneath the shifting common factors to a correction of MATIC. The token was rejected at the $1.02 resistance. The resistance is the highest price attained since early May. The price remains supported by the 21-day and 50-day shifting averages. MATIC has additionally maintained the uptrend.<\/p>\n<h3 style=\"line-height:1.2;margin-top:14pt;margin-bottom:4pt\">Concluding ideas<\/h3>\n<p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:8pt\">$1.02 is the key degree to observe for MATIC consumers. The price must breach the resistance zone for consumers to get pleasure from a long-lasting bullish momentum. If that doesn&#8217;t occur, MATIC will likely be weak and proceed to consolidate or slide. At the second, traders ought to hold calm and watch for a possible breakout.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/polygons-matic-remains-trapped-by-resistance-but-is-the-price-bearish\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Polygon is a Layer-2 scaling resolution on the Ethereum community The native token has been surging on the again of optimistic developments The token is but to interrupt previous a key resistance but remains bullish Polygon MATIC\/USD remains one in all the hottest Layer-2 options on Ethereum. That raised speculations that Polygon would profit 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