Trader Flips Short on Chiliz (CHZ), Makes Forecast for Polygon (MATIC) and One More Large-Cap Altcoin

A closely followed analyst known for timely altcoin calls is updating his outlook on several crypto assets as the markets trade flat. The pseudonymous trader known as Altcoin Sherpa says he's looking to go short on fan token-focused crypto project Chiliz (CHZ) as the coin forms what he sees as a bearish set up.

Timeline of Chiliz, Polygon

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.

Polygon is up 10% this week as new brands announced their integration with the MATIC crypto Meta and Robinhood's support for Polygon has helped the crypto to jump 10% in terms of pricing.  Ethereum layer 2 solution Polygon has jumped nearly 10% following its recent integration with leading platforms like Meta and cryptocurrency exchange Robinhood.

Polygon price appears to have received the required push as popular exchange Robinhood adds support to the network. In a recent update, one can easily send & receive MATIC on the Polygon network in addition to the existing Ethereum network.

Be[in]Crypto takes a look at the five cryptocurrencies that increased the most last week, more specifically, from Aug 26 to Sept 2. The post Polygon (MATIC) Breaks out From Six-Month Resistance – Biggest Weekly Gainers appeared first on BeInCrypto.

Retail brokerage Robinhood Markets Inc (NASDAQ: HOOD) has enabled transfers on the Polygon (CRYPTO: MATIC) network. What Happened: Robinhood said on Wednesday that users would be able to send and receive MATIC tokens on Polygon in addition to Ethereum (CRYPTO: ETH).