three reasons why Polygon (MATIC) expires 100%+ throughout a bear market

Unlike bull markets where traders can essentially throw a dart at a summary of coins to choose one which will increase, bear markets require a lot more effort to locate projects that may succeed within the lengthy-run.

One project which has ongoing to exhibit indications of mainstream adoption regardless of the start of a crypto winter is Polygon (MATIC), a layer-two scaling solution for that Ethereum (ETH) network that’s searching to construct a sustainable Web3 infrastructure on top smart contract platform.

Data from Cointelegraph Markets Pro and TradingView implies that since hitting a minimal of $.316 on June 18 throughout the worst from the crypto market sell-off, MATIC has rose 118% to $.70 in which the cost now sits in a major support and level of resistance that first made an appearance in March 2021.

MATIC/USDT 1-day chart. Source: TradingView

Three good reasons why the lengthy-term outlook for Polygon remains positive include its ongoing adoption by mainstream entities, the migration of multiple projects towards the Polygon network and a rise in the platforms offering liquid staking services for MATIC.

Major adoption bulletins

Adoption by influential mainstream companies is among the best types of marketing that the blockchain platform will get because it exposes these to a sizable pool of potential users.

Previously couple of several weeks, Polygon has built partnerships with Coca-Cola, which released a pride series NFT collection around the network and Reddit, which announced it had become launching an NFT marketplace around the Polygon network on This summer 7.

Most lately, it had been announced that Polygon continues to be selected by Disney is the only blockchain incorporated within the 2022 Disney Accelerator program, a “business development program made to accelerate the development of innovative companies from around the globe.”

Protocols launch on Polygon

Further proof of the increasing recognition of Polygon like a go-to scaling solution for Ethereum continues to be the steady migration and integration of projects using the L2 network.

Besides the recent NFT projects which have migrated to Polygon, other new additions range from the permissionless, credit protocol RociFi, and WOO network’s multi-chain decentralized exchange.

MATIC has additionally seen an increasing number of platforms that provide liquid staking for that token which helps holders to earn staking rewards.

Related: Terra projects band together in migration to Polygon ecosystem

Traders expect resistance at $.75

For what comes next for MATIC cost, market analyst and pseudonymous Twitter user Crypto Tony published the next chart suggesting the token could mind greater toward resistance in the $.75 level.

MATIC/USDT 4-hour chart. Source: Twitter

Crypto Tony stated,

“Looking for any switch from the EQ to the range high. Would like to see us consolidate much more time underneath el born area.”

This outlook was further reinforced by Trader McGavin, who published the next chart noting that MATIC is “Filling the climbing triangular and appears prepared to breakout within the future.”

MATIC/USDT 1-day chart. Source: Twitter

Trader McGavin stated,

“A breakout would open moving to $.80 after which $1. Lot of positive catalysts during the last couple of days driving this big move from the lows.”

The views and opinions expressed listed here are exclusively individuals from the author and don’t always reflect the views of Cointelegraph.com. Every investment and buying and selling move involves risk, you need to conduct your personal research when making the decision.

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