Top Trader Warns of Possible Crypto Pullback, Says Polygon (MATIC) and Cosmos (ATOM) Have Clean Bearish Setups

An analyst who continues to build his following with timely altcoin calls is predicting a correction across the crypto markets while eyeing Polygon (MATIC) and Cosmos (ATOM). Pseudonymous analyst Cheds tells his 276,700 Twitter followers that crypto markets is flashing multiple bearish signals after witnessing a relatively strong week.

Timeline of Cosmos, Polygon

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Polygon [MATIC] found renewed buying pressure over the last month as the buyers continue to inflict a streak of green candles on the daily chart.

Polygon MATIC/USD has advanced from $0.45 to $0.99 since the beginning of July 2022, and the current price stands at $0.93 Polygon solves pain points associated with blockchains Polygon is a platform for Ethereum scaling and infrastructure development that aims to improve the speed and reduce the cost and complexities of transactions on blockchain networks.

In early 2021, Matic, an Ethereum infrastructure project, rebranded to Polygon. Development teams of Ethereum apps can use Polygon's workarounds, which concentrate on the architecture of the Ethereum network, to accomplish things faster and more securely.

Danish blockchain platform Vleppo and US-based plant genome biotech firm Allele Group have used blockchain technology powered by Ethereum (ETH) scaling solution Polygon (MATIC) and Komodo Protocol to enable monetization of cannabis plant IP.

The DeFi development space is alive and well, with the newly announced accelerator program from Orbs & Polygon: DeFi.org. The group announced that four projects will get support from the program.

[PRESS RELEASE – Please Read Disclaimer] FrontFanz isn't taking any breaks. After coming out in the open, this platform successfully closed a strategic investor round and a private sale round.

A well-known crypto analyst and strategist showcase his bullish stance around Polygon (MATIC), Cosmos (ATOM), Avalanche (AVAX), Concordium (CCD), and SKALE (SKL). This comes up as he expects the market to go greener in the days to come.

On Wednesday, July 27th, Polygon, an Ethereum scaling solution, released a semi-annual report detailing its progress since the start of 2022. This blog also highlighted some of the network's plans for the second half of 2022.

The crypto market is trending to the upside and recovering some of its last week's gains with Polygon (MATIC), and other altcoins following the general trend. Digital assets seem to be positively reacting to the earnings reports from legacy companies.

A popular crypto analyst says he will buy the altcoins Polygon (MATIC), Cosmos (ATOM), Avalanche (AVAX), Concordium (CCD) and SKALE (SKL) as he anticipates a relief rally for the market. Michaël van de Poppe tells his 619,400 Twitter followers he is stocking up on altcoins that could give him 20 to 60X returns on investment.