The crypto bear market is proving to be over by the day as crypto prices recover from their bottom prices. Polygon prices, in particular, had a spectacular rise as their prices increased by almost 200% in 2 months. As a result, many investors are now eyeing MATIC in anticipation of higher prices, especially after Ethereum’s merge. Is MATIC a good buy in 2022? In this MATIC price prediction, we analyze Polygon prices from a technical perspective.
What is Polygon MATIC crypto?
A scaling approach for Ethereum is shown by the blockchain network Polygon. The goal of Polygon is to make Ethereum transactions easier and less expensive. It takes advantage of layer 2 sidechains, which may more effectively spread out the heavy transaction load among other chains. The name of the network token is MATIC. In addition to participating in the proof-of-stake consensus method, it is used to pay transaction fees. The Polygon network was once known by the acronym MATIC. Future goals for Polygon include becoming a standalone multi-chain network. As “Ethereum’s Internet of Blockchains,” Polygon calls itself.
MATIC Prices breaches 1$ – What Happened?
MATIC prices crashed along with the entire cryptocurrency market. Back in December 2021, MATIC reached a high price of $2.9. However, as the crypto market started to crash, MATIC prices crashed hard and reached a low of $0.34, losing more than 88%.
From that low price, and when the crypto market started to recover, MATIC showed a great recovery, as it managed to grow by around 200% within 2 months to reach the current psychological price of $1.
MATIC Price Prediction – Will MATIC Price reach 2$?
Now that the psychological price of 1$ is reached, MATIC should eye to reach the next psychological target which is the 2$ price mark. However, there is an important resistance to be broken first, which is the $1.35 and the $1.8 price. If MATIC manages to break those two resistances, we can confirm an upcoming MATIC price of 2$.
On the other hand, because of the upcoming Ethereum merge, we predict that there might be high volatility in MATIC prices. This is because Polygon is a layer 2 solution for Ethereum. Any disturbance in Ethereum’s ecosystem might reflect on layer 2s, including MATIC. That’s why we advise to reassess open positions in September 2022 and considering adding stop-loss prices.
Top 5 Cryptocurrencies of the Week -Week 39
This article is all about the top 5 cryptocurrencies that displayed good performance in the last seven days. Let’s take a look at it in more detail.
The year 2022 was one of the most destructive years for cryptocurrencies. Crypto investors witnessed significant price drops from all-time highs. Yet, many altcoins are displaying good performance. This article is all about the top 5 cryptocurrencies that displayed good performance in the last seven days. Let’s take a look at it in more detail.
5.Top 5 Cryptocurrencies: Uniswap (UNI) +9.14%
Uniswap is a decentralized exchange (aka DEX) founded on the Ethereum blockchain that also serves as a coin. While its token holders handle it, its Blockchain is open source and available for everyone to read and edit. It works as a DEX and provides users access to its platform for peer-to-peer market making. It is less pricey to operate and employ for users because of the lack of this interference. In the last 7 days, the UNI price has increased by almost +9.14%, just enough for a spot on our top cryptocurrencies list.
4.Top 5 Cryptocurrencies: Helium (HNT) +11.67%
Helium Network is a decentralized wireless network that allows devices to connect wirelessly to the Internet anywhere in the world. It is a secure and open-source network. Developers can create low-power, Internet-connected devices at a more affordable and rapid speed. In the last 7 days, the HNT price has increased by almost +11.67%, just enough for a spot on our top cryptocurrencies list.
3.Top 5 Cryptocurrencies: Reserve Rights Price (RSR) +19.97%
The Reserve Rights (RSR) token has different goals, but the primary one is to deliver a tool to keep the dollar value of the RSV stablecoin. The Reserve protocol was created to scale supply based on demand, thus preserving all the collateral on the blockchain. In addition, it was also designed to deliver security and serve as an option to the centralized currencies currently in use. Therefore, cryptocurrencies managed by smart contracts are employed to hold their value. In the last 7 days, the RSR price has increased by almost +19.97%, just enough for a spot on our top cryptocurrencies list.
2.Top 5 Cryptocurrencies: Quant (QNT) +22.74%
The Quant was founded in June 2018 to secure blockchains and networks on an international hierarchy, without reducing the power and interoperability of the network. It is the foremost project to fix the interoperability problem via the creation of the first blockchain operating system. In the last 7 days, the QNT price has increased by almost +22.74%, just enough for a spot on our top cryptocurrencies list.
1. Top 5 Cryptocurrencies: Terra Classic (LUNC) +41.88%
The LUNA Coin is the cryptocurrency of the Terra Network. Terra has designated itself the task of employing algorithms to uphold the stablecoins price stable. With this, Terra wants to create entirely decentralized, algorithmic stablecoins that are different from the support of a physical currency. In the last 7 days, the LUNC price has increased by almost +41.88%, just enough for a spot on our top cryptocurrencies list.