• Polygon (MATIC) is a network providing developers the right tools to optimize speed and reduce transaction costs across blockchains.
• MATIC has enjoyed a surge in price since 2023, however its price has come down in recent days.
• Despite this, MATIC is expected to rally again in the coming days due to its golden cross formation, while further developments such as staking and high yield pools are likely to push the price higher.
Overview of Polygon Network
Polygon (MATIC) provides developers with the right tools to optimize speed and reduce the cost of transactions across blockchains. The network’s focus is primarily on the Ethereum network. Since 2023, Polygon has seen an increase in value but market conditions have caused a slight decrease in its valuation over the past few days.
MATIC Price Prediction
At present, MATIC is trading at $1.09 which represents a 2.81% decline from yesterday’s close prices. On the daily chart, bearish pressure can be seen as indicated by candlestick patterns. However, both long-term and short-term signals seem promising for MATIC investors as both 50-day SMA and 200-day SMA remain above each other following a „golden cross“ formation – suggesting that it will reclaim its former all time high of $1.18 soon enough if bulls can maintain pressure on bears moving forward. Potential support levels are at $0.944414, $1.008853, and $1.047198 while resistance levels rest at $1.149981, $1..214420 and $1..252764 respectively; should support break then MATIC could drop back down to January 25th’s low of $0.9936 before rebounding again over time given its bullish indicators such as RSI (60) and MACD (above signal line).
Matic Network Enables Staking Feature
In January 2021 Polygon announced that users would now be able to stake their MATICS tokens for MaticX which would provide them with a 6% return rate for doing so – this was followed up with allowing users to deposit their tokens into Aave as collateral in order to loan out stablecoins up until 40% LTV with an interest rate charge of 2%. Furthermore users have access to high yield pool hosted on Polygons networks made available through Yield Optimizers that allow them access to more liquidity options than ever before while also providing incentives through rewards based systems depending on various factors such as risk management protocols etc…
Overall it appears likely that MATIC will recover from any pullback it may experience over time due to the technical analysis showing potential for growth given bullish indicators combined with strong fundamentals such as new features being implemented into the platform itself; should all go accordingly then MATIC could very well surpass previous highs of around 1$149981 sometime within these coming weeks or months ahead .