Polygon (MATIC) Price Drops Below $0.53 Support Level
The price of Polygon (MATIC) has been on a downward trend, falling to its lowest point since June 10. Despite active users and large wallet investors, MATIC has not seen any significant impact on its price. As of now, MATIC is trading at $0.50, showing a 4% decrease in the past 24 hours. However, the daily trading volume has increased by 32% to $167 million, which is promising for investors.
MATIC Breaks Below $0.53 Support Level
MATIC has broken its support level of $0.53 and continues to decline. The price is trading within a falling channel, indicating a possible continuation of the bearish trend. Despite efforts from bulls to raise the price, bears have maintained control. The descending triangle pattern within the falling channel suggests a bearish trend continuation. The 50-day and 200-day moving averages above the current price also favor downward pressure. The Relative Strength Index (RSI) is below the oversold territory, indicating significant selling pressure. Key support levels to watch are at $0.32 and $0.14, while the critical level for a bullish surge is $0.63.
Bitcoin BSC (BTCBSC) Emerges as Alternative
Bitcoin BSC (BTCBSC) is becoming an appealing alternative for MATIC investors. Its presale phase offers potential significant returns, and it features a staking mechanism for passive income. BTCBSC has already raised over $1 million since its launch on September 5, with tokens priced at $0.99. The presale has attracted attention within the crypto community, with analysts speculating on the possibility of substantial profits. BTCBSC combines Bitcoin’s value with Binance Smart Chain’s technology, making it a notable choice in the current market.
BTCBSC Offers Passive Income Through Staking
BTCBSC holders can generate passive income through staking, with rewards tied to the number of tokens staked. The ongoing presale offers 4 million tokens initially, with an additional 2.125 million in reserve. The project’s hard cap will reach $6.125 million if all tokens are sold. Staking rewards are proportionate to the number of tokens staked and are distributed every ten minutes. The staking pool is already operational, offering a substantial annual percentage yield (APY) of 494%. BTCBSC can be acquired through various payment options, including ETH, USDT, BNB, or card payments.
Hot Take:
Polygon (MATIC) has experienced a decline in its price, breaking below the $0.53 support level. Despite efforts from bulls, the bearish trend continues, with key support levels at $0.32 and $0.14. However, Bitcoin BSC (BTCBSC) has emerged as an alternative for MATIC investors, offering a presale phase with potential significant returns and a staking mechanism for passive income. BTCBSC combines Bitcoin’s value with Binance Smart Chain’s technology, making it an intriguing choice in the current crypto market. With over $1 million already raised in its presale, BTCBSC has garnered attention from the crypto community, and its staking rewards offer a substantial annual percentage yield.
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