{"id":7839,"date":"2022-09-02T09:21:06","date_gmt":"2022-09-02T09:21:06","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/09\/02\/matic-is-up-by-6-following-robinhood-support\/"},"modified":"2022-09-02T09:21:06","modified_gmt":"2022-09-02T09:21:06","slug":"matic-is-up-by-6-following-robinhood-support","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/09\/02\/matic-is-up-by-6-following-robinhood-support\/","title":{"rendered":"MATIC is up by 6% following Robinhood support"},"content":{"rendered":"

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MATIC is up by greater than 6% in the present day because the cryptocurrency market seems to be to finish the week on a optimistic word.<\/strong><\/p>\n

MATIC, the native token of the Polygon community, is the most effective performer amongst the highest 20 cryptocurrencies by market cap. The coin has added greater than 6% to its worth within the final 24 hours, outperforming the broader market.\u00a0<\/p>\n

The broader crypto market is additionally recovering from its latest decline and will finish the week on a optimistic word. The whole market cap now stands round $990 billion, up by greater than 1% in the present day.<\/p>\n

Bitcoin maintains its place above $20k and is up by greater than 1% over the past 24 hours. Ether is eyeing the $1,600 resistance level after including 3% to its worth in the present day.<\/p>\n

MATIC\u2019s optimistic efficiency comes after it introduced that Robinhood had launched support for deposits and withdrawals of MATIC on the Polygon Proof-of-Stake (PoS) chain.<\/p>\n

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.@RobinhoodApp<\/a> launches $MATIC<\/a> deposits & withdrawals on @0xPolygon<\/a> PoS!<\/p>\n

You get quicker & safer txns with low gas-fees PLUS the power to switch $MATIC<\/a> to & from the #Polygon<\/a> community through Robinhood with out paying bridging charges.<\/p>\n

Read extra \ud83d\udc47 https:\/\/t.co\/kQrPsUpM6N<\/a><\/p>\n

\u2014 Polygon \u2013 MATIC \ud83d\udc9c (@0xPolygon) August 31, 2022<\/a><\/p>\n<\/blockquote>\n

The Polygon crew stated the transfer is anticipated to convey all the advantages of Ethereum\u2019s Layer-2 (L2) options to Robinhood customers for the primary time. Some of those advantages embrace quicker transactions and decrease charges as in comparison with Ethereum.<\/p>\n

Key ranges to look at<\/h2>\n

The MATIC\/USD 4-hour chart is optimistic, as Polygon has been performing effectively over the previous 24 hours. The technical indicators present that MATIC\u2019s metrics are enhancing following a droop earlier this week.<\/p>\n

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The MACD line is above the impartial zone, indicating bullish momentum for MATIC. The 14-day RSI of 65 exhibits that MATIC might be heading into the overbought area if the optimistic momentum is maintained.<\/p>\n

At press time, MATIC is buying and selling at $0.8853 per coin. If the bulls stay in management, MATIC may surge previous the primary main resistance stage at $0.9489.\u00a0<\/p>\n

However, except there is an prolonged bullish run, MATIC may discover it laborious to interrupt previous August\u2019s excessive of $1.057 within the close to time period.\u00a0<\/p>\n<\/div>\n