What is Polygon 2.0 ?Polygon, the most prominent Ethereum Layer 2 solution and one of the top cryptocurrency projects by market value, is launching its first zkEVM chain, independent of the main Polygon proof of stake chain. Furthermore, it plans to fundamentally change the architecture of the Polygon Network with the launch of Polygon 2.0.
What Is Polygon 2.0?
Polygon 2.0 is a planned Polygon Network upgrade to establish it as the "Value Layer of the Internet." It will be an elemental protocol that enables users to create, exchange, and program value in the same manner they do with information on the internet but in a decentralized system.
By providing features such as digital ownership, decentralized finance, and new coordination mechanisms, Polygon 2.0 will enable anyone to access the global economy.
It reimagines the architecture of the Polygon network, its governance, and tokenomics and tries to address the challenges of existing blockchains, more precisely, network throughput and scalability limitations.
How Does Polygon 2.0 Work?
Polygon 2.0 will take a four-layered structure designed to improve the security and scalability of the network while making transactions atomic and instantaneous.
static1.makeuseofimages.com
The layers include;
Staking Layer : This is the existing layer composed of a "validator manager" contract on the Ethereum blockchain and a "chain manager" for every Polygon chain created. It maintains the validators' registry, processes their requests, and processes slashing events.
Interoperability Layer : Built upon the staking layer, the interop layer connects every Polygon chain using bridges. It will also have an aggregator that merges zero-knowledge proofs into one proof sent to the Ethereum blockchain.
Execution Layer : This layer will enable the Polygon chains to process blocks similarly to Ethereum blocks. It contains multiple components, including P2P, consensus, mempool databases, and witness generators.
Proving Layer : This layer generates proofs for all internal and cross-chain transactions for each polygon chain: It's composed of the "common prover" for proof aggregation and verification, the "state machine" that simulates the execution environment, and a "constructor" for developers.
Polygon Labs believes the resulting network of zk-powered Layer 2 chains consolidated through a cross-chain coordination protocol will achieve unified liquidity and unlimited scalability. Consequently, users will engage with the entire network with singularity.
What Polygon 2.0 Means for Crypto Users?
Polygon 2.0 is in the rollout stage. Collaborations between Polygon Labs, other stakeholders, and the broader Polygon and Ethereum community will determine whether to implement it or not through a formal governance process.
But if the current development is to go by, the upgrade is likely to go through. Two major dates are pending for Polygon 2.0: The week of 10th July 2023, when they'll announce a token release, and the following week of 17th July, when governance will follow due process.
Polygon 2.0 will introduce two great features to the network:
1-Polygon 2.0 will rely on zk-proofs to store validated transactions on Layer 1 and actual transaction data on Layer 2. This innovation will reduce the cost of transactions and improve users' privacy.
2-The network will support countless chains and allow unlimited cross-chain interactions instantly without compromising security. Hence, users will interact with the entire network without feeling they're leaving a single chain.
With such developments paving the way for a better Polygon Network, it will be interesting to watch if more investors will bet on its future.
Polygon 2.0 Will Be a Web3 Mainstay
The future looks promising for the Polygon Network as it introduces Polygon 2.0, which will establish an essential protocol in the Web3 environment. Over the next few weeks, Polygon Labs will share detailed data on the architecture and workings of the new network and how they intend to transform the project. If interested in reviewing the proposal, you're encouraged to participate in the community's conversations that will shape the network's future.
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Matic
Short on Matic; long on SolanaIntroduction
I am biased short for the Ethereum ecosystem as a whole due to all the efforts made to have the system run more efficiently and at a lower cost. Price action will work its way down initially and severely before eth benefits again from the "adoption" trade.
A similar concept is water purification. Imagine water is very expensive to obtain and make potable. Efforts are made to get potable water cheaper and a new system is created that produces drinkable water at 1/10th of the price. The old systems that were in place before the development are going to crash in value as people move to the new system. The price of water is cheap and more people use it than ever before.
Matic is one of the old systems through no fault of its own or its developers. The price of Matic is due for quite a drop and the new Ethereum systems are poised to benefit if they can survive. And then there is the alternative to drinking water. I guess for this example we are talking about having a nice Mexican beer (a very overused pun for SOL). Hell, Cinco De Mayo is around the corner as well
Main Chart
This is technically a very simple play. Which is why I hope it is so powerful. We have a simple chart formation, a rising wedge creating a bull trap. That bull trap is a macro lower high from the all time high. We have a EMA ribbon that was support, and now it is poised to act as resistance. The targeting is likewise very simple. We can set a roughly equal W bottom which would be over a 60% loss from current levels.
Other Charts
I have cobbled together a set of indicators to develop a system to benefit from impulse as much as possible. It is decent on multiple time frames but I an trying to make less trades but bigger moves and tighter stops.
This set up is about 85% complete for a entry. It is a Heiken Ashi momentum strategy that looks to go short when indicators have a "bearish stack" and long when they have a "bullish stack. Ideally I would have waited until the SMAs were bearishly stacked and shorted rallys but shorting a break of the wedge is good enough.
Maticbtc versus LunaBTC
To be blunt, the MATICBTC chart looks like hell. There is a macro double top in blue and a nested double top making up the right top. These two formations cascade to a full target of Matic loosing 80% of its value against bitcoin from here. Absolutely devastating.
One thing scratching in the back of my head is how LunaBTC had a chart that predicted a simuar drawdown but the whole project got obliterated. One target for a rising wedge is the bottom of the wedge. So LunaBTC should have "only" dropped some 80% as well. I am wondering if some similar catastrophe could bit Matic. If not, and it merely loses 80% in a orderly fashion then I will be around to long the W pattern if it is confirmed.
My Trade
I have a pretty good entry. I was very tempted to take an entry in at a break of the purple trendline but the chance that price could have recovered at the wedge for another pump was too high and not enough of my conditions to go short were met. I am closing my trade at the first target and waiting to see if a continuation or reversal pattern develop. It could be a multi-month process.
I have a chart I use for reversals that uses daily and weekly SAR as well as the ADX, volume and stochastics. Taking profit around the monthly SAR usually a good idea and taking profits never made a man poor.
This strategy, but in reverse
Solana has taken on a fully bullish stack to its daily SMAs and is above both clouds. Both clouds have twisted bullish. The MACD is positive and looking to cross bullishly over the signal line. the 9SR is bullish on most time frames. This set up is appropriate as Solana has positions itself as a "Ethereum killer."
Here is ETH from 2019. I expect it SOL to have a similar rally because it is in a similar situation with regards to previous losses and current strength.
As such, I will be looking to take profit on a Solana trade as shown. Same strategy in reverse. It works long and short if you are patient enough.
MATICSOL
Here is an ABC correction draw on MATICSOL (actually maticbtc/solbtc) with EMAs on the weekly
And here is the draw on the daily set up for momentum. This chart is 100% fully bearish based on the system.
MATIC LOOKS BULLISH (2H)Hi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the MATIC symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
MATIC: Rising Wedge BreakoutPolygon (MATIC) technical analysis:
Trade setup : Trends are mixed but improving. Bullish breakout from Rising Wedge pattern and above $0.75 resistance could signal a potential trend reversal with upside to $1.00. That level ($1.00) is a stiff resistance because it also lines up with 200-day moving average. However, if it clears that level, that would confirm resumption of Uptrend.
Patterns : Rising Wedge It usually forms after an uptrend and suggests a potential bearish reversal in the original uptrend. When price breaks the lower trend line the price is expected to trend lower. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout.
Trend : Neutral on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $0.50. The nearest Resistance Zone is $0.75, which it broke, then $1.00.
MATIC/USDT 4h: Ready for FTB In the daily time frame Major SR is broken with a strong momentum candle and a fresh FTR zone is created
In the 4H time frame, the price approaches the FTR zone and we will probably see the first time back
I thing that by hitting the FTR and the trendline, it will be able to pull itself up to the specified order block
Reading your comments will encourage and improve me. Thank you
Polygon Matic price don't give up and trying growthLet's start the idea of MATICUSDT by thinking about why we should draw medium-term estimates of possible price movements.
Here is our medium-term idea for MATICUSDT, which we published 6 months ago.
Back then, we clearly described two scenarios and under what conditions to stick to one or the other. There is an action plan, there are critical points of activation of one of the scenarios, and it remains to trade in the right direction. And then, like everyone else, we had no idea that someone would think of classifying MATIC as a "security" and that this would cause the price to crash.
You can easily test the idea)
In the short term, the MATICUSD price is approaching a strong liquidity zone around $0.73, which has been acting as support for a long time, so probably it will not be possible to break it up at the first attempt.
A slight correction will follow, and the second time around, you can try to break through to the top of the channel at $0.83
_____________________
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From Current Levels to $15: MATIC's Journey in the Next Bull RunMATIC/USDT Bull Market Analysis: A Comprehensive Review
Current Market Overview:
At the time of writing, the MATIC token is trading at $0.79, marking an impressive 154% increase from the recent bear market bottom. This significant upward movement indicates a potential shift in market sentiment.
Bullish Pennant Formation:
A closer examination of the MATIC/USDT pair on the high time frame weekly chart reveals the formation of a bullish pennant pattern. This pattern typically signifies a continuation of the previous upward trend. However, the most critical factor to consider is the breakout point.
Anticipated Price Movements:
Based on the chart analysis and current market trends, it is anticipated that MATIC may experience further upward movement towards the $1 level before encountering strong resistance. The $1 level is a significant supply zone, and a rejection from this level is expected.
Potential Retracement:
Following the rejection from the supply zone, it is likely that MATIC will retrace towards the demand zone, which is expected to be a strong accumulation area for investors. The demand zone is estimated to be between $0.25 and $0.38.
Breakout Analysis:
A crucial aspect to watch for is the breakout of the cluster around the $1.07 level. If MATIC successfully breaks out from this level, it could initiate a substantial upward rally, potentially invalidating the lower price targets discussed earlier.
Supply Zone and Future Bullish Scenario:
The red box on the chart represents a strong supply zone. If the price manages to break above this level, the previously mentioned lower price targets may become irrelevant. Instead, a highly bullish scenario could unfold, potentially propelling MATIC to new all-time highs.
Future Price Target:
In a bullish market scenario, with the successful breakout of resistance levels, the MATIC/USDT pair could potentially reach price targets ranging from $12 to $15. However, it is crucial to exercise caution and wait for confirmations before making trading decisions.
Disclaimer: This analysis does not constitute financial advice. Always conduct your own research and consult with a professional before making investment decisions.
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MATIC – Two Entry Points• Yesterday’s long trade on MATIC was a huge success. However, we may be on the verge of an altseson. Consequently, I THINK MATIC still has a more fuel in the tank.
• I have two possible long entries for MATIC. The first is based on an hourly demand zone and the second is based on a daily supply zone.
Trade Idea No. 1:
• Entry: 0.764 USDT.
• SL: 0.755 USDT.
• Target: 0.95 USDT.
• R: R: 1:18
Trade Idea No. 2:
• Entry: 0.7404 USDT.
• SL: 0.71 USDT.
• Target: 0.95
• R: R: 1:6.88
MATICUSDTHave a good time everyone, we are here with another analysis, this time #Metik (Paligan) with a 50% growth probability 😍
.
In the time frame of four hours, the entry point, stop loss and maximum target are specified.
This is a suitable position for the spot where the loss is slightly lower than the range indicated by the purple color.
And the way of movement and temporary corrections are indicated in yellow color.
And you'll also see this category above the trend with support in shapes that are increasing in volume.
Be successful and profitable
Coming up slowly, $0.78On daily TF,
MATIC BINANCE:MATICUSDT has rejected 3 times Ascending Channel and moving up to 0.78
Wait and see
Matic/Usdt 1D ReviewHello everyone, I invite you to review SOL in pair to USDT, on a one-day interval. First, we will use the blue lines to mark the downtrend channel where the price is moving in the upper range.
Moving on, we can move on to marking support areas when we start a larger correction. And here, the first support is at $22.38, the second support is at $19.68, the third support is at $17.44, and then we have a strong support zone from $15.20 to $12.
Looking the other way, we see that the price has reached an important resistance zone from $ 27.14 to $ 32.34, which so far has no strength to break. However, if it manages to exit the descending channel upwards and break through the resistance zone, the next resistance will appear at the price of $38.89.
Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, MACD indicates that we are in a downtrend, while the RSI has a rebound and we are moving at the downtrend line, which may indicate a larger correction.
MATICUSD - Double Bottom IdeaMATICUSD has finally double bottomed indicated in the circles.
I expect a bullish rally due to this bottom formation.
Daily chart
MATIC Polygon and the Altcoin Season ThesisIf you haven`t sold MATIC here:
Then the recent developments in the cryptocurrency market, particularly the favorable court ruling for Ripple Labs, signal an optimistic start to a new altcoin season.
With the federal judge ruling that some of Ripple's sales of the XRP token do not fully meet the definition of a securities offering, it instills confidence in the altcoin space.
This ruling brings clarity to the regulatory landscape and alleviates concerns surrounding XRP, leading to major cryptocurrency exchanges, including Coinbase, relisting the token. The reintroduction of XRP to these platforms demonstrates growing acceptance and renewed interest in this altcoin.
The anticipation surrounding the approval of a spot bitcoin ETF in the United States adds to the positive sentiment in the market.
The successful launch of a previously approved ETF in Europe further reinforces the upward trend for altcoins.
The recent court ruling that declared XRP as not a security sets a precedent that could potentially benefit other cryptocurrencies currently classified as securities by the SEC. In the SEC's case against Binance, they designated 10 cryptocurrencies, including BNB, BUSD, SOL, ADA, MATIC, ATOM, SAND, MANA, AXS, and COTI, as securities.
Additionally, in the SEC's lawsuit against Coinbase, they named 13 cryptocurrencies, reinforcing their stance on SOL, ADA, MATIC, SAND, and AXS, and adding CHZ, FLOW, ICP, NEAR, VGX, and NEXO to the list.
This development showcases the increasing institutional acceptance of cryptocurrencies and creates a ripple effect across the market, providing a boost for various altcoins, including MATIC Polygon, for which my price target is $0.95.
Looking forward to read your opinion about it!
Let's surf before the stormMATIC currency can have a growth of up to 8%, but for the second target, it is very important how it will deal with its resistance range at the same 8%. which can't be supported by the blue color, there is a possibility of a fall of 6 and then the formation of a corner pattern
MATIC, XRP ☁️;BTC, BNB, ADA ☀️?The sun keeps shining ☀️ on the global cryptosphere, promising a slightly bullish market with upside potential in the next 24 hours. However, Ripple’s XRP and Polygon’s Matic encounter some clouds ☁️, signaling a potential downside trend.
Looking ahead over the next week, the forecast is mixed with cloudy weather ☁️ for altcoins like Ether, Litecoin, XRP, and Matic. On the other hand, Bitcoin, Binance, and Cardano enjoy sunnier trading conditions ☀️, suggesting a continued upside potential.
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🔥 MATIC Potential Bear Flag Forming: 2 In 1 Signal!After weeks of selling, MATIC seems to have found support and has been trading inside a bullish channel for over a month now. A bullish channel after a strong sell-off often results in a bear flag pattern, which is a continuation of the bearish trend.
Looking at this chart, we can construct two different signals.
The safest trade would be to wait for the price to fall through the channel's support and enter once the price has closed below it. A more risky trade would be to enter from the to resistance, around the current area. Bot trades have the same target: the current bear market bottom around 0.32. The potential win of the risky trade is much higher because of the tighter stop and the further profit target.
Poised to Surpass Ethereum's Market Cap by 2025Matic Polygon, a rising star in the world of blockchain technology, is set to make waves in the coming years. With its innovative approach to scaling and a growing ecosystem of decentralized applications (dApps), Matic Polygon is positioned to outshine Ethereum and surpass its market capitalization by 2025.
The Potential of Matic Polygon:
Matic Polygon, built on the Ethereum network, addresses one of the key challenges faced by Ethereum: scalability. By implementing a Layer 2 scaling solution, Matic Polygon significantly improves transaction speeds and reduces fees, making it an attractive choice for developers and users alike. This scalability advantage positions Matic Polygon as a formidable contender in the blockchain space.
Expanding Ecosystem and dApps:
Matic Polygon's success is further bolstered by its thriving ecosystem. Developers are increasingly adopting Matic Polygon due to its seamless integration with Ethereum, enabling them to leverage the benefits of both platforms. As a result, an ever-growing number of innovative dApps are being built on Matic Polygon, attracting users from various industries and driving up demand for MATIC tokens.
Market Capitalization Potential:
The soaring popularity of Matic Polygon, coupled with its scalability advantages, is expected to propel its market capitalization to new heights. Ethereum's market dominance has long been undisputed, but the emergence of Matic Polygon presents a formidable challenge. Industry experts predict that by 2025, Matic Polygon will eclipse Ethereum's market cap, driven by its strong ecosystem, growing adoption, and efficient scaling solution.
Investment Opportunities:
Investors seeking promising blockchain projects with high growth potential are turning their attention to Matic Polygon. With its rapidly expanding user base, strong developer community, and supportive infrastructure, Matic Polygon offers a compelling investment opportunity. Its projected ascent in market capitalization presents a chance for early investors to reap significant rewards.
Conclusion:
Matic Polygon's innovative approach to scalability, expanding ecosystem, and projected market cap growth make it a force to be reckoned with in the blockchain industry. By leveraging its Layer 2 scaling solution and capturing the interest of developers and users worldwide, Matic Polygon is on track to surpass Ethereum's market capitalization by 2025. As the cryptocurrency market evolves, Matic Polygon presents an enticing investment opportunity for those looking to ride the wave of its success.
MATICUSDT 1HMATICUSDT 1H
What's New From Polygon: The recent restructuring of the Polygon Labs team, which promoted their company General Counsel, Marc Boiron, to the role of Chief Executive Officer. of value” of the Internet. The first major milestone in this effort involves implementing “decentralized governance” by July 17th.
Main support levels : 0.7343 / 0.7279
Main Resistance Levels : 0.7438 / 0.7497
RSI: Exhaustion of Selling Forces
MACD: seller
CHOP: 67.9
Matic Testing crucial Resistance Seems Like Getting ready for breakout formed & breaking Descending Channel In h8tf Incase Of breakout expecting 80 to 90% Bullish Wave
maticProbably, such a movement can be imagined for him. There is a possibility of an upward corrective movement and the implementation of such a movement
Fractal autoMATICaA.I running this chart must love fractally aesthetic B waves, just look at those B wave bits ...yummy ...
milk will flow like honey below .40
nfa
y axis only
dyor
MATIC - Don’t Buy the Breakout, Buy the RetestTLDR:
• MATIC is close to breaking out of the Range High.
• To trade long I need to see the following:
o Break out of the range.
o Move up to deplete the supply zone.
o Range high flipped to support.
• Only after these two conditions are met will it be a high-confidence long trade.
Background:
• MATIC is in a similar situation to many other altcoins. The MATIC situation is as follows:
1. Sharp drop.
2. Selling Climax.
3. Automatic Rally.
4. consolidation in a Range.
• Assuming that the correction is over, this could be an amazing opportunity to buy low and sell high. However, there’s a worm inside the apple that we need to avoid.
• MATIC has a supply zone just above the range high. Meaning that a break above the range high will, most likely, fail at the first attempt. Here are a few examples:
• DYDX Weekly TF:
• XRP Daily TF:
• BNB Daily TF:
So, what do we do?
• Simple, Patience. Don’t buy the breakout, buy the retest. If you miss out, there are other trades. Nonetheless, it is most probable that all you will miss is the stress and heartache of being in the red.
Trading Plan:
• This is a generic trading plan. It is applicable not just to MATIC but to any other asset that is consolidating in a range. I intend to use this tactic for ADA, FTM and BNB as well as MATIC.
1. Break above the range High
2. wait for the supply zone depletion
3. Wait for range high retest as support.
4. Wait for green dots on the TTM Squeeze indicator.
5. Go long.
Trade Idea:
• Entry: 0.715
• SL: Below last Low before the breakout app. 0.65
• Target: 1.568
• R: R: 1:12
• TP: 0.95, 1.18, 1.568
NFA
What do you think? Please share in the comments.
Best wishes.
A rise above 0.7778 is expected for a change in trendHello?
Traders, welcome.
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Please also click "Boost".
Have a good day.
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(MATICUSDT chart)
The HA-Low indicator on the 1W chart is about to form at the 0.7192 point.
Accordingly, when the HA-Low indicator on the 1W chart is created at the 0.7192 point, the key is whether it can be supported and rise around 0.7192.
However, since the 1M chart's HA-Low indicator was not created, you need to check whether the 1M chart's HA-Low indicator is created or supported around 0.7778.
If it doesn't, it's because it's likely to stay on the downtrend.
Therefore, it is necessary to check whether it is supported and rises in the 0.7192-0.7778 section.
If not, you should check if you can get support in the 0.6348-0.7192 interval.
As it maintains an uptrend while breaking through the HA-Low indicator on the 1D chart upwards.
1st: 0.7778
2nd: 0.08647-0.9059
Split selling is possible when resistance is received near the 1st and 2nd above.
The next period of volatility is around July 13th.
The CCI indicator is entering the oversold zone.
Therefore, when exiting an oversold zone, you need to check which point or zone is supported or resisted.
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** All descriptions are for reference only and do not guarantee profit or loss in investment.
** Even if you know other people's know-how, it takes a considerable period of time to make it your own.
** This is a chart created with my know-how.
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