MATICUSDT 4H
As you can see, we have the formation of a wedge that started in the corrective on the 14th of August, where it corrected around 28%. At this wedge our support is at $0.8193 and resistance at $0.9311. Despite the overbought RSI, the crossing of the 50 x 200 Moving Averages will give a cooling off in the correction giving lightness and strength to the asset's rise.
The Polygon Network (formerly Matic Network) was developed to solve Ethereum's scaling issues by providing a layer 2 solution to reduce network congestion and gas charges.
Polygon is moving from being a one-dimensional ETH solution to an IAAS model as it will try to offer its solutions to non-Ethereum blockchains.
Polygon is in a strong position to gain value as its price and utility are closely related to Ethereum, which is already undergoing extensive adaptation and price growth.
The Polygon Network (formerly Matic Network) was developed to solve Ethereum's scaling issues by providing a layer 2 solution to reduce network congestion and gas charges.
Polygon is moving from being a one-dimensional ETH solution to an IAAS model as it will try to offer its solutions to non-Ethereum blockchains.
Polygon is in a strong position to gain value as its price and utility are closely related to Ethereum, which is already undergoing extensive adaptation and price growth.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.