InstaForex

August 17, 2021

Don't be left behind! Polygon (MATIC) Hasn't Ended the Price Spike Series?

 At the market opening this week it seems to have seen crypto price movements that remain with consistent patterns, mostly indicating positive price movements.


The August trading session, Matic showed a fierce price growth pattern resulting in a 55% jump reaching a high of $ 1.56.


Recently, Polygon has begun the process of merging Hermez into the Polygon ecosystem operating under the new name ‘Polygon Hermez’.


12/14 We believe that combining Polygon’s experience, adoption, and treasury with Hermez’s technology and knowledge will bring great results.


Please read the full announcement for more details on the merger: https: //t.co/NtWb59jtba


- Polygon (@0xPolygon) August 13, 2021


The merger is the largest effort into the field of scaling ZK as a strategic focus to move further forward.


Next, look at the current movement chart of the MATIC/USDT price.


Price movements are seen starting to show an encouraging price increase last week resulting in a 50% jump ending yesterday’s trading session.



The price movement in yesterday's trading seems to continue to break the resistance level around $ 1.5 and make the latest highs.


However, in today's trading, the price of Matic is seen to make a slight decline either making a correction or will continue to rise higher.


If the price of Matic manages to maintain the bullish trend, the resistance level around $ 1.5 will be tested first before making a higher rise and will make the latest high.


Higher expectations will occur if Matic manages to break the $ 1.56 resistance level.


However, if Matic returns to show a bearish pattern, the RBS (resistance become support) level around $ 1.3 will be the focus to be tested first before continuing lower.


At the time of writing, Matic is trading at a price of around $ 1.45 down over 1% in the last 24 hours.