bullish

Movement

Polygon

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-drive-matic-price-surge-with-increased-activity/" data-wpel-link="internal">Investors Drive MATIC Price Surge with Increased Activity</a><br></p>
<p class="p1" style="text-align: justify"><a href="https://en.coin-turk.com/ethereum-faces-potential-liquidation-risks-and-etf-challenges/" data-wpel-link="internal">Ethereum</a>‘s leading Layer-2 scaling solution Polygon’s supporting MATIC price reached a 60-day peak. Last week, MATIC’s price increased by 28% as <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> anticipated the upcoming token swap from MATIC to POL. As of the date of this writing, MATIC is trading at $0.52. The double-digit price increase over the past seven days is partly due to increased whale activity during that period.</p> 
<h2 class="p1" style="text-align: justify" id="continued-intense-interest-in-polygon">Continued Intense Interest in Polygon</h2> 
<p class="p1" style="text-align: justify">Data from IntoTheBlock shows that the net flow of the token’s large holders increased by 43% during that period. Large holders refer to investors who hold more than 0.1% of an asset’s circulating supply. Their net flows measure the difference between the assets they purchase and the amount they sell over time.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-382435 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/itb-6.webp" alt="" width="1200" height="800"></p> 
<p class="p1" style="text-align: justify">When the net flow of large holders of an asset rises, it means whale addresses are accumulating more assets. This is generally considered a bullish indicator that can lead to a price rally. As individual investors observe large investors increasing their positions, their confidence typically grows, encouraging additional purchases and sustaining price momentum.</p> 
<p class="p1" style="text-align: justify">Moreover, MATIC futures investors consistently showed demand for long positions. This is reflected in the altcoin’s positive funding rate since August 17, indicating that investors are willing to pay a premium to maintain bullish positions in the futures market. When an asset’s funding rate is positive, there is more demand for long positions. This means more investors are predicting a price rally than those expecting a decline.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-382434 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/matic-1.png" alt="" width="2798" height="824"></p> 
<h2 class="p1" style="text-align: justify" id="matic-chart-analysis">MATIC Chart Analysis</h2> 
<p class="p1" style="text-align: justify">MATIC’s Average Directional Index (ADX) confirms the current bullish trend is strong. Evaluated on a daily chart, the indicator is in an uptrend at 48.17. The ADX measures the strength of a trend regardless of its direction. At 48.17, MATIC’s ADX indicates that the current trend is very strong.</p> 
<p class="p1" style="text-align: justify">MATIC’s Directional Movement Index setup shows the trend is on the rise. As of the date of this writing, the token’s Positive Directional Indicator (+DI) is above the Negative Directional Indicator (-DI). When +DI is above -DI, it means the market trend is bullish and buying pressure is dominant. Maintaining the current trend could push MATIC’s price to $0.55. However, profit-taking could exert downward pressure, potentially lowering the price to $0.33.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-382433 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/matic-grafik.png" alt="" width="2770" height="1300"></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/investors-drive-matic-price-surge-with-increased-activity/" data-wpel-link="internal">Investors Drive MATIC Price Surge with Increased Activity</a></h5>
<p>The post <a href="https://en.coin-turk.com/investors-drive-matic-price-surge-with-increased-activity/" data-wpel-link="internal">Investors Drive MATIC Price Surge with Increased Activity</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Investors Drive MATIC Price Surge with Increased Activity

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