POLYGON (MATIC) SURGES, CAN THE BULLS LEAD A RALLY?

 

MATIC (Polygon) bulls have recently shown resilience and bounced back the prices after a major retracement that shook most of the cryptocurrencies, amid the US financial banking crisis and sent a negative sentiment in the global markets including the crypto market.

Polygon’s continuous strategic partnerships and bullish news events are driving its native token's intrinsic value to remain bullish for the upcoming future. Also, the US Fed has given some hints that they may think about the pause on interest rates after hiking 25 bps recently in May meeting. However, Polygon (MATIC) bulls remain resilient in their new show of strength ahead.

MATIC’s price is currently seen to trade below the 200-day Exponential Moving Average, with bulls moving to test that area acting as immediate resistance. A breakthrough above the 200-day EMA, currently trading at $0.957, may see Polygon bulls pushing the price to the next available resistance.

As of now, at the time of writing this article, MATIC has ranked #9 on CMC with a market capitalization of $8.9 Billion.

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