{"id":434537,"date":"2023-08-29T18:59:33","date_gmt":"2023-08-29T18:59:33","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=434537"},"modified":"2023-08-29T18:59:33","modified_gmt":"2023-08-29T18:59:33","slug":"polygon-price-prediction-matic-poised-to-breach-0-60-how-high-can-it-go","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/polygon-price-prediction-matic-poised-to-breach-0-60-how-high-can-it-go","title":{"rendered":"Polygon Price Prediction: MATIC Poised to Breach $0.60 \u2013 How High Can It Go?"},"content":{"rendered":"

Polygon MATIC consolidated around the $0.57 and $0.54 price levels between August 22 and 29, 2023, while attempting to escape the bearish trend and reclaim the $0.60 price level.<\/span><\/p>\n

This emerged after a noticeable dip of 7% on August 21. As of 5:32 AM EST today, August 29, MATIC traded at $0.56, marking a less than <\/span>1% decline<\/span> in the last 24 hours. However, recent strides suggest the token is poised for a notable uptick before the day ends.<\/span><\/p>\n

MATIC’s Price Action Shows Asset is Reviving<\/h2>\n

Following the steep downturn in the crypto market over the past few days, MATIC recorded a <\/span>22%<\/span><\/a> 30-day price loss, according to Coingecko data. <\/span>However, MATIC’s current price shows a <\/span>2%<\/span> price gain higher than its market value in the past seven days.<\/span><\/p>\n

With Buying Pressure Building in Lower Band, Is MATIC Recovering?<\/h3>\n

\"Polygon<\/p>\n

MATIC’s market outlook in the chart above shows that the MATIC\/USD pair is within the region of the Lower Bollinger Band. This implies a bearish state for the asset due to previous negative sentiment in the market.<\/span><\/p>\n

Nonetheless, the coin’s MACD shows that the asset is negligibly above the signal line, suggesting a possibility of MATIC going bullish in the next few days.<\/span><\/p>\n

Again, the MACD has faded red histogram bars and a green forming bar today, implying that the selling pressure in the market has fallen as buying activity is building up.<\/span><\/p>\n

Furthermore, MATIC’s Relative Strength Index (RSI) at 31.05 suggests that the coin is undervalued and supports the bearish state of the asset from the Bollinger indicator.<\/span><\/p>\n

However, as MATIC nears the 30 RSI zone, it is a bullish signal for the coin as there is a tendency of trend reversal occurring within the weekend unless otherwise.<\/span><\/p>\n

Based on the technical indicators, the current market status opens a good entry position for investors. <\/span><\/p>\n

But traders should also consider fundamental factors like SEC’s lawsuits, global crypto regulations, etc., that outweigh the technical analysis before making trading decisions.<\/span><\/p>\n

MATIC’s Resistance and Support Price Levels<\/h3>\n

\"Polygon<\/p>\n

Considering the chart above, the MATIC pair is on support at the $0.56 price level. <\/span>At this support, investors who buy now could force the asset to rebound to the $0.70 resistance, recording a profit of 25%.<\/span><\/p>\n

However, if some pieces of opposing news force MATIC’s value down to the $0.51 support, investors who purchase it at this price level could record a substantial profit of 37% when the asset rallies to the same resistance level.<\/span><\/p>\n

Suppose some positive events emerge that create excitement within the MATIC<\/span> market. In that case, more investors will be attracted, causing an increase in MATIC’s demand and pushing its value to the $0.89 significant resistance.<\/span><\/p>\n

When this happens, it means a 59% and 78% tremendous return on investment for traders who buy the coin at the first and second support levels, respectively.<\/span><\/p>\n

Polygon’s Partnership with Bware Labs Sign for MATIC to Gain More Adoption<\/h2>\n

Reports<\/span><\/a> show that Bware Laps adopted Polygon’s Zero-Knowledge Ethereum Virtual Machine (zkEVM) into its API platform, allowing developers to run smart contracts efficiently on zkEVM.<\/span><\/p>\n

The zkEVM is the software compatible with Ethereum’s<\/a> computing setting that fosters high scalability to all applications within the Ethereum ecosystem. It reduces transaction costs and enhances trading activities on supporting platforms.<\/span><\/p>\n

Furthermore, the integration enables developers to tap into Polygon’s App-chain through Bware Labs to improve the maintenance of complicated backend processes.<\/span><\/p>\n

It also helps Polygon and Bware Labs to jointly fight the scalability challenges seen in the Web3 space to ensure a completely decentralized future.<\/span><\/p>\n

Interestingly, Bware Labs also developed a remarkable dashboard called the Blast Dashboard V2; this allows Polygon users to navigate the Web3 space easily.<\/span><\/p>\n

The Dashboard V2 enables a simplified user experience for developers and provides them with valuable insights into different aspects of the Polygon network.<\/span><\/p>\n

Another fantastic thing about the Dashboard V2 is that it enables developers within the Polygon’s network to discover trends quickly over time.<\/span><\/p>\n

This development could boost MATIC adoption in the future as Polygon has been recognized as one of the valuable networks for sustaining the Web3 ecosystem.<\/span><\/p>\n

Korean SK Telecom Partnership with Polygon Labs Portrays Increment in MATCI’s Worth<\/h3>\n

Reports<\/span> show that one of the leading Korean mobile giants<\/a>, SK Telecom, extended its hands for partnership with Polygon Labs.<\/span><\/p>\n

The partnership aims to develop the Web3 industry while exploring it to discover startups with prospects and potential worthy of incubation.<\/span><\/p>\n

Again, Marc Boiron, the CEO of Polygon Labs, also stated that the collaboration is an eminent approach that will provide Web3 experiences to consumers.<\/span><\/p>\n

This partnership might increase MATIC’s market value in the future as some investors and customers of the mobile network SK Telecom may consider investing in digital assets. <\/span><\/p>\n

Wall Street Memes, The King of Stonks, Stirs Positive Reactions With $25 Million Presale Milestone<\/h2>\n

Wall Street Memes ($WSM), a promising meme project revolutionizing the meme crypto sector, has made waves as it achieved over a $25 million presale milestone.<\/span><\/p>\n

The project’s success shows strong support from investors across the crypto community. <\/span>Many investors speculate that the token could yield tremendous returns on investment and project the initiative as the next big gem in the crypto market.<\/span><\/p>\n

The team at Wall Street Memes is leveraging the popularity of WallStreetBtes, a community on the Reddit platform that caused a movement in 2021.<\/span><\/p>\n

This group positively affected the market value of GameStop stock in 2021; WallStreetBtes backing the token, $WSM, is a big win for investors who buy some of its tokens.<\/span><\/p>\n

The project was created to celebrate the inter triumph over capitalism following the recent success of some crypto meme projects like Dogecoin, Shiba Inu, $PEPE, BTC20, and others.<\/span><\/p>\n

Interestingly, the creators made a name for themselves when they sold out 10,000 pieces of NFTs called <\/span>Wall St Bulls<\/span><\/a> within 32 minutes and realized up to $2.5 million in 2021.<\/span><\/p>\n

This has portrayed the project team as one with the potential to launch successful projects, making its new project, $WSM, record enormous adoption from the online investment community.<\/span><\/p>\n

Information on the presale website reveals that the price, which has been live for over two months, will end in less than 29 days.<\/span><\/p>\n

$ WSM’s Astonishing Presale Activity<\/h3>\n

The project’s initial coin offering (ICO) has 30 presale phases and is currently in the final stage with a selling price of $0.0337, and today it raised more than $25 million.<\/span><\/p>\n

Again, after the ICO, $WSM will be listed on the tier-1 crypto exchanges, enabling the token to attain heights in the crypto market. <\/span>Remarkably, the creators included a stake-to-earn scheme in the project, allowing investors to purchase $WSM and earn rewards.<\/span><\/p>\n

Amazingly, information from the project’s <\/span>website<\/span><\/a> shows that the team at Wall Street Memes distributed 50%, 30%, 10%, and 10% for marketing, community rewards, CEX liquidity, and DEX liquidity, respectively.<\/span><\/p>\n

This means the team has no team kept aside for itself, showing a total commitment to serving the crypto community. <\/span>You can acquire some $WSM tokens from the <\/span>presale website<\/span>, connect your wallet, and follow the buy instructions carefully.  <\/span><\/p>\n

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