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Stader MaticX Price Prediction: MATICX Climbs to $0.62 – What’s Driving the Surge?

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MaticX
MaticX

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Stader MaticX (MATICX) price recorded a 12% surge to an intra-day high of $0.6507 between August 26 and 29. The token has maintained a steady uptrend for the past week, recording higher highs and higher lows.

What is Stader MaticX?

Stader is a liquid staking protocol that has collaborated with several ecosystems since its inception. The staking token for this protocol is X. This means its partners, Ethereum, Polygon, Hedera, and others, would be the X symbol. Ethereum becomes ETHX, while Polygon becomes MATICX.

It is worth noting that Polygon (MATIC) accounts for around 50% of the Stader network’s total value locked (TVL). Ethereum (ETH) and Hedera (HBAR) comprise 13% and 20%, respectively. This is expected, considering liquid staking protocols tend to support multiple chains.

The project offers users a chance to stake and earn staking rewards. This is achieved thanks to the Stader network’s liquidity staking token, X. For Polygon, this is MaticX. Users can access instant liquidity on the Polygon ecosystem with the openness to explore exciting opportunities in decentralized finances (DeFi).

Stader protocol has an expansive portfolio, recording at least $90 million in staked assets. It is also a hub for critical supported chains and an active user base above 70,000 profiles. Users mint  MaticX for staking MATIC. This makes MaticX a liquid token whose value can increase with time because of accumulated staking rewards.

What Drove the Surge in Stader MaticX Price?

The surge in MaticX price came amid hype around MATIC liquid staking. Among the perks of this mechanism is that it leads to increased capital efficiency and TVL. More specifically, it provides more liquid staking tokens to stakers to deploy them in DeFi and increase the TVL.

It also provides more options, flexibility for MATIC holders, and new structural rewards. These span from yield farming, vaults, and lending, among other value additions on both Ethereum and Polygon ecosystems.

https://twitter.com/Empclintonian/status/1696046266466140372

Stader MaticX Price Forecast As Bullish Flag Pattern Prepares MATICX For 10% Gains

At the time of writing, Stader MaticX price is $0.6208, a daily rise of around 5%, with signs of an impending 10% rally. The price action has formed a bullish flag pattern on the four-hour timeframe (see chart below).

A bullish flag pattern is a positive technical formation forecasting the extension of an uptrend in the near term. The MATICX price action is consolidating within the two parallel trend lines in the opposite direction of the uptrend. This is before breaking out and continuing the uptrend.

The upper boundary of the flag at $0.6334 currently acts as resistance. This supplier congestion zone’s decisive flip into support would activate the chart pattern, possibly catapulting MATICX 10% to the psychological $0.7000.

Technical indicators bolster this outlook, with the Relative Strength Index (RSI) position at 59, indicating strong price strength. Similarly, the Awesome Oscillator’s histogram bars are positive, adding credence to the bullish outlook.

MATICX price
TradingView: MATICX/USD 4-hour chart

Conversely, if selling pressure continues or buyers sit on their hands, Stader MaticX’s price could fall. A decisive 4-hour candlestick close below the immediate support at $0.6181 would invalidate the bullish thesis. Such a move would pave the way for a leg down to the August 18 lows of $0.6086.

In the dire case, MATICX could extrapolate its downtrend to the $0.5766 support floor, denoting a 7% slump from current levels.

The RSI tipping south points to falling momentum, while the histogram bars taking a red feel suggest that bears are gaining ground. This could bode poorly for Stader MaticX price.

While MATICX price works out the next move, switch attention to WSM, a more promising choice for investors looking for early-stage investments. The token breached the $26 million mark in presale sales barely a week ago.

Promising Alternative To MATICX

WSM is the ticker for the Wall Street Memes ecosystem. It is a rising meme coin garnering significant attention with over a million followers across various platforms. It has the support of figures like Michael Wrubel, a famous YouTuber who also reviews XRP20 and Shibie Coin. The project is in the final stages of its presale. This fantastic project has raised over $25 million in just four months.

People are comparing its potential with that of Dogecoin (DOGE). Even its popularity is further fueled by Elon Musk’s engagement with its Twitter account.

Wall Street Memes recently announced plans for listing on top-tier exchanges within 28 days. This move is expected to bring a rapid market cap surge seen with similar listings in the past.

Meanwhile, WSM has gained massive attention with a prominent crypto whale. Recently, a giant whale allocated over $1 million to acquire WSM tokens during its presale phase. This whale address executed a series of transactions, accumulating 460 ETH within a brief timeframe.

This noteworthy investment highlighted the growing attention toward WSM. Furthermore, it indicated a robust confidence level in its potential for returns.

Wall Street Memes has also initiated a $50,000 airdrop to commemorate the presale’s triumph. Individuals have the opportunity to participate and have a shot at winning by fulfilling uncomplicated social media tasks.

Interested investors should hurry up with the clock ticking towards tier-one exchange listings as the opportunity to join the Wall Street Memes presale is slipping away.

Here is how you can buy WSM

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