MATICUSDT (Polygon) - Coin of the Week
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness. Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.
Technically, after reaching the local top on the 29th of October at 2.23 USDT we now see the price action starting to correct for this cryptocurrency. We give a high probability for the price to correct until it reaches the first blue trendline marked on the chart and then we will expect a continuation of the uptrend. However, if the price breaks the blue trend and consolidates below it, we expect a bigger pullback and must study carefully the price action to determine the next big move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, after reaching the local top on the 29th of October at 2.23 USDT we now see the price action starting to correct for this cryptocurrency. We give a high probability for the price to correct until it reaches the first blue trendline marked on the chart and then we will expect a continuation of the uptrend. However, if the price breaks the blue trend and consolidates below it, we expect a bigger pullback and must study carefully the price action to determine the next big move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
