HomeNewscoinquora.comMATIC Could Be Breaking Its Troublesome Streak This Week

MATIC Could Be Breaking Its Troublesome Streak This Week

- Advertisement -


    • Polygon (MATIC) signals upsurge following a period of downwards price movement.
    • The price of MATIC experienced a 26.74% gain in the last 24 hours.
    • The weekly performance of MATIC is also positive.

Polygon’s native cryptocurrency, MATIC, has started moving upwards following a period of downwards price movement.

According to the crypto market tracker CoinMarketCap, the price of MATIC is around $0.5064. This is approximately a 26.74% gain over the last 24 hours. This recent price upswing has also seen the coin’s weekly price movement turn positive, as MATIC is up 22.03% in the last 7 days.

Currently ranked as the 18th biggest project in terms of market cap, MATIC has a total market cap of around $4.00 billion. This ranks the coin underneath Avalanche (AVAX) which has a market cap of around $4.81 billion and above Litecoin (LTC) which has a total market cap standing at approximately $3.89 billion.

MATIC/USDT weekly chart (Source: TradingView)
MATIC/USDT weekly chart (Source: TradingView)

The weekly chart of MATIC/USDT shows how its price has been plummeting for the last 12 weeks as the crypto bear market took its toll on the token. During these 12 weeks, MATIC’s price dropped from $1.759 to as low as $0.332 — an 80+% drop in price.

 Of the 12 weekly candlesticks in this sequence, there was one green candle. However, the wick of the candle was a strong sign that the selling pressure was too much for bulls as the price continued to fall and drop below a key weekly level at $0.951.

Now, it seems as if the weekly situation for MATIC may turn around as a green candle is starting to form. However, it may be too early to call the close just yet as we approach the end of the week, which is a period of profit-taking and cashing out. This may see the candle close as a green candle, but not by a convincing margin.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.



Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 20,493.00
ethereum
Ethereum (ETH) $ 1,093.86
tether
Tether (USDT) $ 0.999043
bitcoin-cash
Bitcoin Cash (BCH) $ 115.93
litecoin
Litecoin (LTC) $ 55.00
eos
EOS (EOS) $ 0.955346
okb
OKB (OKB) $ 11.38
tezos
Tezos (XTZ) $ 1.40
leo-token
LEO Token (LEO) $ 5.93
cardano
Cardano (ADA) $ 0.469419
monero
Monero (XMR) $ 116.25
stellar
Stellar (XLM) $ 0.116375
chainlink
Chainlink (LINK) $ 6.87
huobi-token
Huobi (HT) $ 5.17
tron
TRON (TRX) $ 0.06402
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 46.79
neo
NEO (NEO) $ 9.12
iota
IOTA (MIOTA) $ 0.315738
nem
NEM (XEM) $ 0.040861
zcash
Zcash (ZEC) $ 64.13
maker
Maker (MKR) $ 924.22
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 15.53
vechain
VeChain (VET) $ 0.023478
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX (FTT) $ 25.71
kucoin-shares
KuCoin (KCS) $ 10.42
waves
Waves (WAVES) $ 6.34