MATIC bulls have hopes of a bounce in next week, here is why

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Polygon plans to incorporate a massive boost to transaction speeds and reduce fees.

Timeline of Polygon

Polygon (MATIC/USD) is now available on the Binance Card in Argentina.  This marked a major moment for those that want to use cryptocurrencies for daily purchases, as the card can be used at 90 million merchants on a global scale.

More and more people are resorting to trading Bitcoin and other cryptocurrencies to put away their money and generate an additional income while they sleep (BTC). Over recent years, this behavior has been expanding.

Polygon is planning to kick its operations into high gear especially now that the Ethereum Merge has been finalized. Polygon's latest announcement reveals an ambitious goal that if successful, will solidify its position as the most powerful Ethereum L2 solution.

With the completion of the Merge, all the attention seems to be on Ethereum [ETH]. However, there could be a lot of L2 solutions that could benefit from the Merge, one of them being Polygon [MATIC].

Despite being a bearish pattern, the rising parallel channel led the MATIC price to $1 resistance. Moreover, this resistance is the neckline of a cup and handle pattern holds significant weightage to determine the future market price.

Starbucks Corporation said it will start a non-fungible token (NFT)-based loyalty programme using Polygon's blockchain technology. The programme, Starbucks Odyssey, will let customers buy and earn digital collectable stamps in the form of NFTs that offer other various benefits and immersive experiences.

While Polygon (MATIC) has broken out from a long-term descending resistance line, it has yet to clear an important horizontal resistance which would confirm that a bullish reversal is in place. On Tuesday, it was announced that Starbucks and Polygon will partner in a non-fungible token (NFT) loyalty program called “Starbucks Odyssey”.

Polygon (MATIC/USD) has teamed up with Starbucks Coffee Company to enable the company to give its loyalty program customers an opportunity to buy and earn collectible non-fungible token (NFT) stamps. Starbucks Coffee Company has chosen the Polygon network to launch their collectible digital stamps as a power of its Web3 program, Starbucks Odyssey.

Coffee giant Starbucks is teaming up with Polygon (MATIC) to give its loyalty program customers a chance to buy and earn collectible non-fungible token (NFT) stamps. Starbucks Coffee Company is turning to Polygon to launch the collectible digital stamps as part of its Web3 program called Starbucks Odyssey.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Recently, Polygon [MATIC] bulls found renewed pressure from its $0.74-$0.76 range support.