Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
The current CoinMarketCap ranking is #14, with a live market cap of $17,500,000,000 USD.
I drawn first trendlines on this coin chart while it was at 0.02$, but unfortunately I didn't load up at this price level.
Since recent big crypto market dump, MATIC is one of few which was bought up quickly and now facing last resistance before takeoff to unknown territory.
If it manage to breakout and turn last resistance into support, as usual I'm targeting Fib. extensions as take profit zones.
In this case it is approx. 4$ as TP 1 and 6$ as TP 2.
In case of rejection from resistance zone, I'm looking at green boxes as buy opportunities.
Considering high CMC ranking and M. Cap, I don't expect huge gains here. That already happen with this coin.
My average buy price is around 0.8$ and I took some profit earlier today. At 4$ and 6$ zones I'm planning to reduce my position to 20-25% of initial position and reallocate into project with smaller M.Cap.
Thanks for reading and good luck!
The current CoinMarketCap ranking is #14, with a live market cap of $17,500,000,000 USD.
I drawn first trendlines on this coin chart while it was at 0.02$, but unfortunately I didn't load up at this price level.
Since recent big crypto market dump, MATIC is one of few which was bought up quickly and now facing last resistance before takeoff to unknown territory.
If it manage to breakout and turn last resistance into support, as usual I'm targeting Fib. extensions as take profit zones.
In this case it is approx. 4$ as TP 1 and 6$ as TP 2.
In case of rejection from resistance zone, I'm looking at green boxes as buy opportunities.
Considering high CMC ranking and M. Cap, I don't expect huge gains here. That already happen with this coin.
My average buy price is around 0.8$ and I took some profit earlier today. At 4$ and 6$ zones I'm planning to reduce my position to 20-25% of initial position and reallocate into project with smaller M.Cap.
Thanks for reading and good luck!