Polygon Price Rises by 60% In Four Days After Massive Matic Accumulation

After weeks of bearish run, Polygon (MATIC) witnessed one of the sharpest rebounds in the cryptocurrency market this week. MATIC’S price notably rose to $0.50 on June 23, four days after the coin hit its lowest level since April 2021. This rapid gain of about 60% is a performance that beat the resurgence of even Bitcoin (BTC) and Ethereum (ETH) in the same timeframe. Although MATIC is still far from its all-time high recorded value of $2.92 in December 2021, it is a massive improvement in a period where the…

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Polygon price jumps 60% in four days amid ‘pretty big’ MATIC accumulation

Polygon (MATIC) took a break from its prevailing bearish course, posting one of sharpest rebound in the crypto market this week. Notably, MATIC’s price has risen to $0.50 this June 23, four days after hitting $0.317, its lowest level since April 2021. This amounts to roughly a 60% gain, surpassing the performances of even Bitcoin (BTC) and Ether (ETH) in the same timeframe.  MATIC/USD daily price chart. Source: TradingView Nevertheless, MATIC is still down significantly from its December 2021 high of $2.92, coinciding with the overall crypto bear market and…

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Polygon reaches level that last time triggered a 275% MATIC price rally — will history repeat?

Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99. The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal Reserve’s hawkish policies. MATIC price rebounded after undergoing five days of relentless declines, attracting buyers around the same support level that had preceded a 275% bull run last year. MATIC/USD weekly price chart. Source: TradingView A…

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MATIC Nosedives Close To Bottom, How Long Can Investors Hold Out?

MATIC is on the verge of hitting its local bottom of $1.21, as the market has lost three days in a row. In fact, it was only 11.4% away from the aforementioned level at the time of publication. On Tuesday, the price of Polygon (MATIC) moves in a narrow range. Since February 16, MATIC has been on a steady downward trend, with a 35 percent drop. The creation of a triple bottom near $1.40 signals that the present trend will be reversed. MATIC Falls Close To Bottom MATIC/USD is now…

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Polygon Token Price Analysis – New All-Time High This Week For MATIC?

As of February 15, 2022, Polygon token MATIC has scaled its price to $1.79 with a 24-hour price change of +11.14%. MATIC posted a low of $1.60 and a high of $1.79 with a trading volume of $1,196,485,293.19, up by 36.32% in the last 24 hours. According to Crypto Predictions, the price might rise as high as $2.300 throughout February and has the tendency to fall as low as $1.230. Some analysts estimate the price to hit $1.447, which is lower than what financial experts have set their sights on.…

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Polygon price risks 50% drop as MATIC paints inverted cup and handle pattern

Polygon (MATIC) has dropped by more than 40% from its record high of $2.92, established on Dec. 27, 2021. But if a classic technical indicator is to be believed, the token has more room to drop in the sessions ahead. MATIC price chart painting classic bearish pattern MATIC’s recent rollover from bullish to bearish, followed by a rebound to the upside, has led to the formation of what appears like an inverted cup and handle pattern — a large crescent shape followed by a less extreme upside retracement, as shown in…

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Polygon (MATIC) sees a strong oversold bounce after $250B crypto market rebound

Polygon (MATIC) emerged as one of the best performers among high-ranking cryptocurrencies on Wednesday as the price rose nearly 17% to reach an intraday high at $1.825. The gains surfaced amid a synchronous rebound across the crypto market that started on Jan. 24. In detail, investors and traders poured in over $250 billion across digital assets, benefiting Bitcoin (BTC), Ether (ETH) and many others in the process. Performance of the top-fifteen cryptocurrencies in the last 15 days. Source: TradingView Polygon, a secondary scaling solution for the Ethereum blockchain, also cashed in on the…

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Ethereum EIP-1559 upgrade launches on Polygon to burn MATIC

The Ethereum upgrade that introduced a partial network fee burning mechanism in August last year has launched on the layer-two scaling network Polygon.  Ethereum’s EIP-1559 upgrade shipped with its London hard fork last summer and has been a success in terms of gas price predictability and network fee burning. The upgrade has now launched on the layer-two scaling network Polygon in an effort to improve “fee visibility”. It went live about an hour ago at block 23850000. The Polygon team announced the upgrade date on Jan. 17, following its successful deployment…

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Ascending channel pattern sets Polygon (MATIC) up for a potential 30% rally

Polygon prices look poised to rise by at least 30% in the wake of a key Jan. 18 upgrade that would push a considerable portion of its native MATIC token out of circulation. Dubbed EIP-1559, the improvement proposal originally came to light as part of Ethereum’s so-called London Hard Fork upgrade on Aug. 5. The proposal effectively started destroying, or “burning,” a part of the fees paid to miners via Ether (ETH). Traders and investors raised their bids for Ether before and after the EIP-1559 upgrade, noting that it made Ether…

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BTC, ETH, BNB, AVAX, MATIC

Bitcoin (BTC) witnessed a roller coaster ride in 2021 and even though BTC has corrected sharply from its all-time high at $69,000, the digital asset is still up by 60% year-to-date. During the same period, gold has dropped more than 5%.  With inflation soaring in the United States and several other parts of the world, Bitcoin’s outperformance over gold shows that investors may be considering it to be a better hedge against inflation when compared to gold. During the year, the total crypto market capitalization surged to about $3 trillion,…

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