Price Analysis

Polygon Network Eyes For Big Gains: Here’s When MATIC Price Rally Might Occur!

Written by: Anjali Belgaumkar

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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Aug 24, 2021

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This year has seen a surge in demand for decentralized finance (DeFi). According to CoinMarketCap, the price of Polygon is currently $1.64, down 1.13 percent in the last 24 hours. MATIC/USD has gained new bullish momentum after earlier attempts to break past the price level at about 1.50 failed. On May 18, Polygon soared to $2.4544, its biggest level in history. 

MATIC price has risen in recent weeks as a result of increased demand for the coin. The price has had strong bullish momentum, as shown on the daily chart.

Polygon Network Eyes

Since the market began to rebound in late July, MATIC has had major ups and downs. If the market bulls continue, the altcoin could travel towards the next important support level of $1.76. 

The bulls will need to break through the resistance level at $1.726 to signal the commencement of a new surge. MATIC price will retest $1.892 after breaching $1.726. If the bears gain control, 1.28 is an obvious area of support.

Also Read : Polygon (MATIC) Price Could Form New ATH Above $3 With Nearly 200% Gains

Polygon was planning to become a decentralized independent entity for its community members, on August 19. MATIC Price rose from a low of roughly 1.3 to a high of 1.53 the next day after the news. 

Cashaa, a crypto-friendly neo-bank, has teamed with Polygon, an Ethereum-compatible layer two solutions.

“Cashaa has been continuously scaling and now entering into giving personal accounts to increase the adoption of its CAS token which requires cheaper transaction cost. Association with Polygon is another step towards the same,” said Mr. Kumar Gaurav- Founder and CEO, Cashaa.

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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