Polygon (MATIC) recently broke below the crucial support level at $0.5 and is at risk of further price declines. This price drop is thanks to several traders who offloaded their tokens as soon as Polygon reached this support level amid the downtrend in the broader crypto market. Polygon Faces Significant Selling Pressure The Exchange-Onchain Market…
Polygon (MATIC) appears to be underperforming compared to the broader market, where most of the attention is directed toward other major cryptocurrencies with larger market caps. Despite this subdued price movement, the Polygon network recently experienced a significant surge in activity, reaching its highest levels in over a year. This notable increase in activity is…
An analyst has explained how Polygon could see a rally of around 17% if the cryptocurrency’s price breaks above this level. Parallel Channel May Reveal What Could Be Next For Polygon In a post on X, analyst Ali has discussed about a parallel channel that Polygon has been consolidating inside during the last few weeks.…
An analyst has explained how a buy signal forming in the price of Polygon (MATIC) could lead to the asset rebounding towards these price targets. Polygon Is Showing A TD Sequential Buy Signal Right Now In a new post on X, analyst Ali has discussed about the a Tom Demark (TD) Sequential signal forming in…
Like many other crypto projects, the native token of the Polygon network, MATIC, was launched with some portion of the supply vested for the team over a period of time. In the case of Polygon, the vesting was for five years, and since 2019, there have been periodic token unlocks. However, the unlocks, which have…
An analyst explained that Polygon could see a potential bull rally to $1.73 if the cryptocurrency’s price is above this level. Polygon Appears To Be Breaking Out Of A Symmetrical Triangle Currently In a new post on X, analyst Ali talked about a multi-year Symmetrical Triangle that Polygon has been traveling inside. The “Symmetrical Triangle”…
With zero knowledge (ZK) proofs expected to be a game changer for blockchain scaling, Polygon may be on the brink of a major rally. Taking to X on February 2, crypto market commentator Polynya, asserts that ZK technology is the “endgame” as its “1,000x efficiency upside is irresistible for networks.” Will “ZK” Technology Be The “End Game”?…
Layer-2 network Polygon is reported to have competed with Ethereum in 2023, as both networks saw the most influx of new users. This development has once again raised concerns about MATIC’s price, considering that such an achievement should potentially mean that new money moved into the ecosystem last year. Polygon and Ethereum Acquired The Most…
In a detailed analysis released by crypto intelligence firm ChainArgos, allegations have surfaced about the Polygon team’s involvement in secret sales of MATIC tokens, potentially leading to a suppression of the token’s price. The revelations stem from an in-depth examination of the token allocations and subsequent flows to various exchanges. ChainArgos, in a series of…
MATIC was one of the altcoins affected by the recent market downturn triggered by the controversial Matrixport report on the Bitcoin spot ETF this week. This negative sentiment pushed the cryptocurrency’s price from trading at nearly $1 to below $0.85 in a single move. However, the tide seems to be turning in favor of the…