Did you notice the opportunity we are selectionning for you?
MATIC started its rise at around $0.84 last night at 10pm and peaked at over $0.98 early this morning, the highest since August 15, up over 15% in a few hours.
We expect an extension of the recovery in progress towards 1,33 (+40%)
An intermediate resistance area at 1.0400 is acting as taking profit level on the short-term while 1.33 is the standard target for the coming weeks.
- The long-term trend analysis show potential towards 1.70 as long as 0.32 strategic support remains valid
- The mid-term element as Mobile average and RSI are showing bullish signal
- MATIC is outperforming ETH & BTC which allow us to keep this coin in portfolio
Trade Idea : Buy
- Target 2 : 1,70 (70%)
- Target 1: 1,33 ( 40%)
- Buy: 0,9590/0,9230
- Stop: 0,7750
MATIC UPDATE :
JPMorgan carried out the transaction on Ethereum layer2 network Polygon because of its cheap transaction fees, and leveraged Aave Protocol’s permissioned pool concept.JPMorgan has executed the first live trade on public blockchain as part of the Monetary Authority of Singapore (MAS) Project Guardian. The banking giant completed the transaction using DeFi, Tokenized Deposits, and Verifiable Credentials.Active
Addresses and NFT Metrics Ticks Up :
Despite the fact that the TVL was flat, a glance at the 30-day active addresses measure revealed some encouraging trends. Over 5 million active addresses were visible at the time of this writing, according to the chart from Santiment. The chart also revealed that the number of active addresses had been on an uptrend in recent weeks. A review of the entire volume of NFT trades revealed that Polygon had been experiencing a respectable level of activity. The total volume of NFT transactions that were visible as of November 1 exceeded $1.7 million.
In the case of Polygon (MATIC), it should be noted that Meta Platforms, the parent company of Facebook and Instagram, announced yesterday the launch of a feature to create and sell NFTs (or digital collectibles) directly on Instagram. This feature will be based on the Polygon blockchain, Meta said, which explains the strong bullish reaction of its native cryptocurrency, MATIC, although these features will initially only be available to a limited number of hand-picked creators.
Reddit’s NFT debut was a success, which suggested that the chain’s minting activity would rise. This implied that the MATIC token’s utility had just been increased and would now serve extra purposes for any additional chain initiatives.
This would increase the value of MATIC, and token owners might gradually see the value of their tokens increase.
The information contained in this site is for educational purposes only to help you make the best decisions and does not constitute investment or financial advice. Please do your own research before making any investment decisions. None of the information contained in this site constitutes, nor should it be construed as, a suggestion, offer or other solicitation to engage in or refrain from engaging in any purchase, sale or other investment related activity. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose.