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MATIC’s Reclaim Of $0.72 Means the Bullish Trend Could Continue

Published 10/03/2022, 08:26 AM
Updated 10/03/2022, 08:30 AM
© Reuters MATIC’s Reclaim Of $0.72 Means the Bullish Trend Could Continue

  • There is currently bullish strength for Polygon.
  • At the moment, there are not too many trade entries for MATIC.
  • MATIC is currently trading at $0.7692 after a 0.66% drop in price.

Crypto trader and CEO of Eight Global Michael van de Poppe has been busy on Twitter (NYSE:TWTR) today as he has already posted about numerous cryptocurrencies. One of the cryptos that he specifically focuses on is Polygon (MATIC).

According to van de Poppe, there is currently bullish strength in MATIC. The bullish move will continue if the price of MATIC reclaims $0.72. However,there are not too many trade entries, unless the $0.72 level is lost towards $0.56. Another possible entry is if the price reclaims $0.80.

MATIC Network / Tether US 1D (Source: CoinMarketCap)

According to the market tracking website, CoinMarketCap, MATIC is currently trading at $0.7692 after a 0.66% drop in price over the last 24 hours, and after reaching a high of $0.7819 over the same time period.

Despite the crypto being down for the day, it is still up more than 2% over the last week. In addition to this, MATIC was able to strengthen against the biggest altcoin by market cap, Ethereum (ETH), by 0.99%. Nonetheless,the same can not be said for MATIC with regard to Bitcoin (BTC), since MATIC weakened against the market leader by 0.33%.

MATIC is currently the 13th biggest cryptocurrency in terms of market capitalization with its market cap of $6,718,359,050. This places MATIC right behind Dai (DAI) in the 12th position and in front of Shiba Inu (SHIB) in the 14 th position.

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When looking at MATIC’s 24 hour trading volume, we see that it is up well over 50% to now stand at $254,960,818.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post MATIC’s Reclaim Of $0.72 Means the Bullish Trend Could Continue appeared first on Coin Edition.

See original on CoinEdition

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