Polygon price analysis: Bearish pressure suppresses MATIC down to $0.804, shedding 14 percent overnight

The Polygon price analysis shows a strong bearish move today, as the coin just beached the $0.811 support at the moment. The price has been falling for the past few weeks as bears dominate the market.

Timeline of Polygon

Polygon MATIC/USD is a Layer-2 scaling solution that runs alongside the Ethereum blockchain network. It was specifically designed to enable speedy transactions as well as low fees.  MATIC is the native cryptocurrency token that is used to power the network. The Instagram addition of NFTs as a catalyst for growth On May 9, 2022, Mark The post What the Instagram partnership means for the future of Polygon appeared first on Invezz.

Polygon has partnered with Meta to create an NFT platform for Instagram and Facebook, Polygon CEO Ryan Wyatt announced via Twitter. The post Meta taps Polygon to build NFT platform for Instagram, Facebook appeared first on CryptoSlate.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Polygon (MATIC) was on a long-term uptrend as it formed a six-month-long rising wedge (yellow) and hit its ATH on 27 December.

META's Instagram will support NFTs from Ethereum, Flow, and Solana and the social media platform will not charge the users for showcasing their crypto art so let's read more about it in today's latest cryptocurrency news. NFTs from one of the most popular blockchain networks for crypto art are coming to Instagram with the announcement

Polygon price analysis reveals MATIC prices opened today's trading session trading at lows of 1.0215 before the prices surged to highs of 1.0752 in the early hours of the session prices have corrected lower and are currently trading at around 1.052 as bulls and bear battle for control of the market. Polygon prices have sought.

Scarlet Grimoire was developed by the leading game engine Unreal Engine 5 and self-developed decentralized cloud ”Nebula Cloud System“ which is definitely a metaverse dark horse of this year. Scarlet Grimoire is the first Web3 Action Battle Royale MOBA game under the Metaverse infrastructure platform “Cateverse”, in a strategic partnership with Polygon and funded by … Continued The post Scarlet Grimoire Partners With Polygon Studios appeared first on BeInCrypto.

Recent Polygon price analysis shows a continuous bearish trend as prices nosedive to new lows. The Polygon token is currently trading at $1.03 after shedding 9.46 percent of its price in the last 24 hours.MATIC prices closed yesterday's trading session trading at $1.13 after a brief period of consolidation above the $1.2 mark.

Matic Network (MATIC) has broken down below an important horizontal support area and is showing bearish signs in multiple time frames. The post Matic Network (MATIC) Draws Closer to Support Line of Yearlong Pattern appeared first on BeInCrypto.

Ethereum had a breakout year in 2021. It's native asset, ETH's, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses. The post Layer-2 Scaling Solutions: A Framework for Comparison – Commissioned by Polygon appeared first on The Block.

MATIC price prepares for a quick run-up as it arrives at a significant support level. A resurgence of bulls will add credence and a tailwind to this outlook and propel Polygon higher.