MATIC Price Shows Strength and Potential
If you’ve been keeping an eye on the crypto market, you may have noticed that MATIC price has been performing well compared to other cryptocurrencies like Bitcoin. In the last 24 hours, MATIC has seen a 3.5% increase, reaching $0.5614. Its trading volume stands at $205 million, with a market capitalization of $5.2 billion.
MATIC Price Bulls Prepare for a Rally
While the overall crypto market is experiencing some concerns, Polygon’s live price seems to be defying the odds. After facing losses in July, MATIC found support at $0.53, which has played a crucial role in its recent trend reversal.
Traders are taking notice and willing to take a chance on Polygon, especially with the announcement of a new partnership. Additionally, the Moving Average Convergence Divergence (MACD) indicator has confirmed a buy signal, indicating a positive outlook for MATIC.
Traders familiar with the Stochastic oscillator have noticed a return of bullish strength following oversold conditions. As the strength index climbs into the neutral area, there is potential for a recovery to at least $0.75 based on the 61.8% Fibonacci retracement.
Short-term traders and investors may consider taking profits at the 50-day Exponential Moving Average (EMA), while others may hold on for a climb to the 50% Fibonacci level. Those who are fiercely bullish may hold out for the target at $0.75.
MATIC Price Benefits from a New Partnership
The recent uptick in MATIC price can be attributed to a partnership with Casio, the manufacturer of electronics. This partnership is in preparation for the launch of Casio’s iconic G-Shock watch NFTs creator pass. Innovators will have access to a special Discord channel for the project through the creator passes.
Casio plans to release 15,000 NFT-based creator passes, which can be claimed starting on September 23. The rollout of these passes will occur in two phases, ensuring wide accessibility and inclusion within the community. This partnership showcases the growth of the Polygon ecosystem.
Hot Take
MATIC price’s recent performance and its partnership with Casio demonstrate the potential for growth and innovation within the Polygon network. With a bullish outlook and a strong market position, MATIC has the potential to reach new heights in the near future.
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