By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Polygon Maintains Solid Footing As MATIC Balloons By 300% Since June
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Polygon Maintains Solid Footing As MATIC Balloons By 300% Since June
crypto

Polygon Maintains Solid Footing As MATIC Balloons By 300% Since June

admin Published August 11, 2022
Last updated: 2022/08/11 at 8:53 PM
Share
SHARE

[ad_1]

Polygon (MATIC) price prediction relies heavily on the CPI numbers for July.

Contents
Polygon Price Jump By 5.04%Polygon Gunning For $1
  • Polygon price soared by 125% since July 1; Analysts spotted a rally of 68% catapulting to an 85% boost in terms of profit.
  • MATIC price has overlapped targets found in the $1.25 mark; retracement is still a possibility at $0.64.
  • A break below the $0.54 mark hints at an invalidation of MATIC’s uptrend movement.

Evidently, the crypto market has been extremely volatile seen early this week. On the other hand, investors are still on pause waiting for the CPI print.  Apparently, MATIC has dropped by 0.06% since yesterday.

Polygon Price Jump By 5.04%

According to CoinMarketCap, Polygon trades at $0.9361 or registering a price jump of 5.04% as of this writing. Early this week, MATIC’s price didn’t make it to $1 again but it still has shown an impressive recovery since it slumped at a low of $0.31 as seen in June. MATIC price has since then soared by as much as 300%. 

In most parts, Polygon was barred somewhat from escalating further by the tremendous volatility experienced by Bitcoin. As of press time, Polygon’s TVL is at $1.69 billion but it has experienced a gradual decline in terms of TVL seen in the early months of 2022.

In the same way, Ethereum has also shaved off as much as $3.5 billion in TVL seen in the past seven months which has negatively impacted MATIC price which is currently trading at 69.5% which is way below its ATH.

Polygon Gunning For $1

According to the MATIC technical analysis, the bulls still have some power left as the coin is still pumping the price up on a constant uptrend.

With that being said, a retest at $1 is a possibility but it will all depend on the result of the July CPI print. So, if the inflation numbers spike, the MATIC price might possibly retest the 200-day EMA right at $0.81.

On the other hand, if the inflation plummets, then the market could improve rapidly which could improve the prediction for MATIC price peaking at $1.05.

The recent price pump of Polygon was first spotted on July 27. There is seen to be a mild pullback which gives the bears a green light to close orders and jump in with the bulls.

So, if the technical analysis proves to be accurate, a second breach seen at $0.61 could potentially punch a bullish movement shooting for $1. Either way, this would still mean a price rally for MATIC.

MATIC total market cap at $7.6 billion on the daily chart | Source: TradingView.com

Featured image from The Economic Times, Chart from TradingView.com

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin August 11, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Urban Innovation Fund, VMG Catalyst raising new funds – TechCrunch
Next Article 3 things to watch for on Rivian’s Q2 earnings day – TechCrunch

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?