Robinhood introduced MATIC transactions on Polygon along with Ethereum
The assist will increase liquidity for MATIC token
MATIC positive factors prior to now one week are 10%
Discuss of constructing essential headlines and defying market sentiment. Polygon’s MATIC/USD is a cryptocurrency to observe at any time when one is on the lookout for a very good funding. The Ethereum Layer-2 scaling answer has proved to be a dependable blockchain.
On CoinMarketCap, MATIC has registered greater than 10% positive factors prior to now week. Different cryptocurrencies have negligible positive factors, whereas others stay within the bear zone. The positive factors replicate confidence in Polygon and the rising utility of its native token MATIC.
On August 31, Robinhood introduced that customers might transact with MATIC on the polygon community. It’s extra assist to Ethereum, with Robinhood saying extra cryptos are coming quickly. The assist will elevate MATIC liquidity and enhance the worth. The brokerage agency mentioned the addition of MATIC was attributed to the large charges on Ethereum.
MATIC is trapped by the $1 resistance as value makes a comeback
Supply: TradingView
The weekly chart is the true barometer as an instance MATIC’s value motion. Within the weekly chart, it may be seen that MATIC is trapped beneath the $1 resistance. The worth is bullish after the newest retracement however is dealing with some bear strain. The bear strain may very well be a results of the weak crypto market sentiment.
Concluding ideas
Whereas Polygon’s MATIC has sturdy fundamentals, weak market sentiment is a bear set off. The worth faces a key hurdle at $1 whereas the underside is at $0.6. Whereas we consider MATIC has room to go increased, warning ought to be exercised as value battles $1. The $0.78 is short-term assist that the worth might additionally slide if a breakout fails at $1. We urge traders to purchase when the worth crosses $1 or purchase now for a long-term maintain.
