Polygon price analysis: MATIC prices bleed to new lows of $1.02 as bears heighten their grip

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.

Timeline of Polygon

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.

Meshwap, decentralized exchange (DEX), has launched on Polygon reporting one million-plus users accessing its DeFi ecosystem. Polygon is a platform for Ethereum scaling and infrastructure development claiming 7000+ applications hosted, over 3.4 billion total transactions processed, and about 135M+ unique user addresses.

MATIC delivered a heavily bearish performance in April but it looks like the bears are running out of momentum. Although the selling pressure seems to be tapering out, the price demonstrated some sideways action in the first three days of May due to a lack of strong buying pressure.

Polygon price analysis reveals MATIC prices have been trading in a bearish trend but a break out in the previous 24-hours has been witnessed with the bulls continuing to show dominance posing more buying pressure in the market. Polygon prices have seen a price surge of 3.08 percent as the prices hover above the $1.45 mark.

Quick Take Crypto Raiders is a semi-idle Polygon-based game, in which players can choose to either play actively or passively as a Raider character or Mobster character, respectively. Crypto Raiders is based on a “pay-to-play” model. Players can either gradually level up their characters using the limited free keys distributed each week, or quickly level up by purchasing additional dungeon passes, equipping themselves with a horse NFT, and purchasing potions from the DEX. A major distinction between Crypto Raiders and other P2E games is some of its in-game assets are fungible, allowing players to trade them on decentralized exchanges.

At the time of writing, MATIC was trading at a price of $1.080. The Relative Strength Index (RSI) dropped to 29.48 after struggling around the neutral zone, whereas the Awesome Oscillator (AO) was operating in the red zone.

Polygon has established its presence in the DeFi space and continues to do so, and this way, what Polygon lacks in the spot market is being fulfilled by killing it in the DeFi market. Polygon has everyone's attention Polygon achieved a huge milestone recently after it hit 19000+ dApps this month.

The financing round was led by crypto venture fund Hack VC with several other investors in this round, including funds CMCC Global, Nascent, FJ Labs, and several prominent crypto angel investors including the founder of UMA Hart Lambur, and Betfair Co-Founder Josh Hannah, among many others. Polygon participated as well, providing a $2.5 million grant. SX Network, creator of the …