MATIC is up by greater than 1% within the final 24 hours because the broader cryptocurrency market continues to get better from final week’s hunch.
MATIC, the native coin of the Polygon community, is up by greater than 1% within the final 24 hours. The efficiency comes because the broader crypto market slowly recovers from its poor outing final week.
The constructive efficiency might be attributed to Nike revealing that it will be coming into the Polygon ecosystem.
Seize your kicks 👟
+ BRING 👏🏽 YOUR 👏🏽 A 👏🏽 GAME 👏🏽@Nike is constructing their web3 experiences solely #onPolygon 💪🏾This is step one of the journey, and we won’t wait to see how Nike engages its group via #web3https://t.co/bk19RLNodX
— Polygon – MATIC 💜 (@0xPolygon) November 14, 2022
The Polygon group revealed that Nike, one of many main sports activities attire producers on the earth, will construct its web3 expertise on Polygon.
The efficiency additionally comes because the broader cryptocurrency market continues to keep up its constructive begin to the week.
The whole cryptocurrency market cap stands round $845 billion, up by lower than 1% within the final 24 hours. Bitcoin is closing in on the $1,700 resistance stage after including 1% to its worth right this moment.
Ether, the second-largest cryptocurrency by market cap, can also be up by lower than 1% right this moment and is now buying and selling at $1,259 per coin.
Key ranges to look at
The MATIC/USD 4-hour chart stays bearish regardless of MATIC including greater than 1% to its worth right this moment. The technical indicators present that MATIC is recovering from final week’s poor efficiency.
MATIC/USD Chart By TradingView
The MACD line is at present under the impartial zone, indicating that the bears nonetheless management a big chunk of the market.
The 14-day relative power index of 47 exhibits that MATIC is not within the oversold area. At press time, MATIC is buying and selling at $0.938 per coin. If the constructive pattern is maintained, MATIC might commerce at round $0.9893 earlier than the tip of the day.
MATIC might surge previous the second main resistance stage at $1.0641 within the close to time period if it will get assist from the broader cryptocurrency market.
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