Polygon Shows Bearish Signs, Can $0.76 Support Hold Price Of Matic?

The price of Polygon (MATIC) has struggled to stay above the key support zone of $0.8 as the price of Bitcoin (BTC) showed indecision for weeks as the price moved in a range for weeks between $19,500-$20,000 with the price stalling on the next movement. This has affected the price of altcoins, including Polygon (MATIC), as prices dropped below $0.8 but reclaimed that region quickly.

Timeline of Polygon

Polygon [MATIC] had revealed earlier in April 2022 that it was working towards reducing the carbon emissions that emerge from its network. According to the company, achieving the goal of being carbon negative was vital to its “Green Manifesto.

Ripple (XRP) and Polygon (MATIC) are well-known cryptocurrencies that have solidified their positions as top cryptos through significant price increases and ecosystem improvements. As a result, Ripple (XRP) and Polygon (MATIC) have generated enormous profits for their early investors.

A new partnership has been announced between Carrieverse and Polygon to build the Carrieverse metaverse project. The Ethereum scaling solution is expected to host the metaverse project on the Polygon network.

A continous stream of good news for Polygon over the past three months has helped its gas and governance token $MATIC token to gain over 170% (vs USD). What Is Polygon ($MATIC)? Polygon is “a decentralised Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security.

Polygon [MATIC] has become one of the most popular networks for Web3 projects. It has always claimed to be an eco-friendly blockchain with a more energy-efficient PoS consensus mechanism.

MATIC has spiked by as much as 6% today with the crypto landscape having an optimistic vibe the entire week. MATIC looking positive with a surge of 6%  Polygon performance improves following announcement of Robinhood's support for Polygon transactions Around 18 million MATIC transactions made after Robinhood partnership announcement Polygon (MATIC) is dubbed to be the top performer when pitted against the top 20 cryptos in terms of market capitalization as seen in the past three months.

Being part of a constantly active community in cryptocurrencies is exciting. Something is always fresh to keep you entertained, whether you trade, invest, or build. As everyone is seeking those transformative results, those who enter this sector have great expectations.

James Mullarney, the host of the very popular YouTube channel “InvestAnswers”, says that $MATIC, the native token of Polygon, is one of his top altcoin picks for investors to keep an eye on.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. In the twelve hours of trading that preceded press time, Bitcoin [BTC] saw a bounce from the $19.6k support zone to trade at $20.1k at press time.

Polygon was a notable mover on Friday as the token surged to a two-week high, while volatility in crypto markets eased. Traders have been tense this week ahead of the payrolls report, however following the release of the data, bulls returned to action. Chainlink also rose, hitting a ten-day high in the process.