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Polygon Price at $1.58 after 25.9% Gains – How to Buy MATIC

Polygon MATIC Portal
Polygon MATIC Portal

Polygon is among the scalable networks that have been labelled as major competitors to Ethereum. Due to its scalable features, the network has become one of the most popular in the crypto spaces. Its native token, MATIC, has been on a bullish rally during the past 24 hours and has made double-digit gains.

MATIC is trading at $1.58 at the time of writing after a 25.9% gain in 24 hours.

MATIC Price Analysis

MATIC Analysis Oct 15
Source: Tradingview

MATIC has been on a significant uptrend during the past 24 hours. At one point, the coin had tested the $1.60 levels, but it failed to hold the high, and instead, it slumped to the current levels.

The overall market support is high, given that bitcoin is firmly holding the $59,000 level. Hence, MATIC could continue with its uptrend and create new monthly highs. If the positive price action continues, MATIC’s next target is $1.65 and $1.70. MATIC’s uptrend towards $2 is also possible if the entire market continues trading in the green zone and if traders buy more of the coin.

On the downside, the market has been experiencing slight corrections in recent weeks despite the bullish sentiment. If the trend reverses, MATIC will dip to the lower support level of $1.50. If it drops to the lows of $1.35, it could attract investors who want to purchase during price dips.

Polygon has been on an uptrend this month following the network’s venture into non-fungible tokens. At the beginning of this month, Polygon Studios partnered with UniclyNFTs to give the network’s users a new way to earn passive income from this asset class. NFTs are currently a heated topic in the crypto space; hence, Polygon could see major gains due to its latest venture.

On the other hand, the network recently increased gas fees to reduce spam attacks on the network. However, this move has not been welcomed by all the network users, and the network’s activity has dropped by around 50%.

Where to Buy MATIC

To buy MATIC during the current market bulls, you can open a cryptocurrency exchange account on eToro. eToro is a leading social copy trading platform that allows a new trader to copy the strategies used by seasoned traders. eToro offers user-friendly features that make the platform easy to use. Its trading fees are also favourable.

Looking to buy or trade Polygon (MATIC) now? Invest at eToro!

67% of retail investor accounts lose money when trading CFDs with this provider

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eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

eToro - Best Cryptocurrency Platform

Buy Crypto

68% of retail investor CFD accounts lose money.

eToro - Best Cryptocurrency Platform
Buy Crypto

68% of retail investor CFD accounts lose money.

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