Bitcoin

Polygon

Notable

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/polygon-sees-significant-price-increase-after-bitcoin-surge/" data-wpel-link="internal">Polygon Sees Significant Price Increase After Bitcoin Surge</a><br></p>
<p style="text-align: justify"><strong>Polygon’s (MATIC)</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">price</a> increased by 10% after <a href="https://en.coin-turk.com/bitcoins-price-movement-and-the-anticipation-of-the-upcoming-halving/" data-wpel-link="internal">Bitcoin</a>‘s rise yesterday, leading to the discovery of a significant resistance level. Can MATIC recover from the 40% drop it experienced since its local peak in March 2024?</p> 
<h2 id="uptrend-formation-in-polygon">Uptrend Formation in Polygon</h2> 
<p style="text-align: justify">Polygon’s price is approaching a critical formation, which is a typical bullish signal. Ichimoku Cloud analysis suggests a potential upward movement as price action within the Cloud often indicates a trend reversal or continuation. The daily Ichimoku Cloud’s upward penetration signals strong bullish momentum.</p> 
<p style="text-align: justify">The cryptocurrency’s price breaking the 0.618 Fibonacci level could indicate further upward levels, intensifying bullish momentum with a price target set at $0.99. The $0.67 level serves as strong support among key Fibonacci levels. The 0.618 level at $0.80 could indicate potential resistance. The key resistance is at the 0.5 level at $0.89, and the 0.382 level at $0.99. This suggests the presence of more resistance if the upward movement continues, indicating a significant resistance level in a bullish scenario.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-354161 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/matic-1.jpg" alt="" width="740" height="412"></p> 
<h2 id="network-growth-in-matic">Network Growth in MATIC</h2> 
<p style="text-align: justify">The number of <strong>MATIC</strong> addresses with non-zero balances is steadily increasing. This indicates strong network growth and adoption. The mentioned trend could signify a healthy and expanding user base for MATIC.</p> 
<p style="text-align: justify">The Polygon network continues to see an increase in unique addresses, reflecting ongoing interest and user engagement. This growth is a positive indicator of MATIC’s long-term potential. The daily transaction chart shows significant activity on the <strong>Polygon</strong> network. Notable increases indicate high usage periods. Sustainable transaction volume supports MATIC’s price increase as it reflects an active and interactive network. We will all see what happens in the popular cryptocurrency in the coming days.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/polygon-sees-significant-price-increase-after-bitcoin-surge/" data-wpel-link="internal">Polygon Sees Significant Price Increase After Bitcoin Surge</a></h5>

Polygon Sees Significant Price Increase After Bitcoin Surge

Table of Contents

COINTURK NEWS

Other articles published on May 21, 2024

Nasdaq Forced To Update Spot Ethereum ETF Fillings: Report

Gala Games CEO blames $23M exploit on ‘messed up’ internal controls

Why Crypto Market is Up Today? Is This the Start of Fresh Rally?

Uniswap Counters SEC’s Wells Notice, Defends DEX Operations

Solana (SOL) Price Tops The Charts With Surge To $180: What’s Happening?

Bitcoin (BTC) Price to Hit $84K in Next 6 Weeks: Here’s Why

Join our free newsletter for daily crypto updates!