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Polygon

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. Hope you enjoy this article. Follow for more important contents an analysis. Refrences : www.makeuseof.com polygon.technology
MEducation
by TraderAmin-KZ
6
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.
MLong
by altFINS
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 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
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by P_S_trade
24
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. Follow us for More Crypto Analysis. Thank you.
MLong
by CryptoPatel
8
🔴 MATIC Hello Dear friends The price chart on the daily time is below a downward trend line and so far this trend line has been preserved. The indicator from RSI has issued a negative divergence on the four-hour time frame. And as we can see, the resistance areas are not fully consumed. But we lost support areas in almost every corrective move. Currently, it seems that the possibility of forming a corrective trend is much higher and the possibility of breaking the downward trend line from this range with this movement momentum is very weak. What do you think?
MShort
by BiTBingo
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!
MLong
by TopgOptions
A rise above 0.7778 is expected for a change in trendHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (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. -------------------------------------------------- ------------------------------------------- ** 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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by readCrypto
1
Is MATIC Ready for 60% Downside Move As per ChartTechnical Chart Analysis of MATIC/BTC - Bear and Bull Market Insights Market Overview: MATIC is currently trading at 0.00002163 BTC, representing a significant decline of 65% from its all-time high. While the technical analysis suggests a bullish scenario due to the formation of a bull flag on the MATIC/BTC weekly chart, market sentiment does not support an upward move for MATIC at present. Key Analysis Points: Bull Flag Formation: The MATIC/BTC weekly chart indicates the formation of a bull flag pattern, which traditionally signals a potential bullish trend. Market Sentiment: Despite the bullish chart pattern, current market sentiment does not align with an upward movement for MATIC. Support Levels: The immediate support level for the bull flag pattern is at 0.00002100 BTC. A price drop below this level would confirm strong bearishness. Target After Breakout: If hold Current Support then, the target for MATIC/BTC is projected to be 0.00000600 BTC, which represents a substantial decline of 60-70% from the current level. Worst-Case Scenario: In the event that MATIC/BTC holds the current support level at 0.00002100 BTC, there could be a bounce towards 0.000036 BTC or even 0.000057 BTC before the anticipated downward movement. Key Levels: Support Levels: Significant support levels to monitor are at 0.000021 BTC and 0.000006 BTC. Resistance Levels: Key resistance levels to watch are at 0.000036 BTC and 0.000060 BTC. Disclaimer: This analysis is not financial advice. It represents the personal opinion and analysis of the author. Individuals considering investments in any coins, including MATIC, should perform their own research and consult with financial professionals. Follow us for More Chart Analysis.
MShort
by CryptoPatel
3
MATICUSD is rebounding on a 2.5 year old Support!Polygon / MATICUSD almost hit the Rising Support that goes back all the way to January 2021 and is now rebounding. This is perfectly viewed on the 1week time frame where the price hit the 1week MA200. As the 1day RSI is also rebounding, a crossing over the MA line, will confirm the bullish trend, like it did on July 4th 2022. Buy and target the 1day MA100 on the medium term at 1.1500. Follow us, like the idea and leave a comment below!!
CRYPTO:MATICUSDLong
by TheCryptagon
5
MATIC long; expecting +50% in 3 weeksMATIC produced a local double top on the 4H back in March, using fib retrace from the double top you see the golden ratio has a clear support/resistance in that 0.95-0.97 (nearing the dollar) area, and for each fib retracement line you see that S/R, each one to be tested in the coming weeks as BTC and crypto assets look primed to rally. Outside of TA; the securities definition for MATIC, along with other accused tokens, has seemingly cooled off. Not to mention the floodgates of filings and re-filings of ETFs from big dogs have opened!
MLong
by Vintron
1
Polygon (MATIC) Bull ScenarioDo you think Altcoins will stall when Bitcoin starts running? If you think the alts will walk too, I can talk to you about MATIC. In my opinion, I think we are in the days when we have the last opportunity to buy MATIC, which will be the star of the next bull season. As you can see on the black lines, MATIC, which made the symmetrical triangle it made in the past, entered short-term downtrends 2 times within this symmetrical triangle (Orange line) and after the second break, the bull run started. We are on the eve of this process. In the two symmetrical triangle patterns, we can see that MATIC is spending a lot of time inside the 0.382 and 0.618 levels of Fibonacci retracement. (Purple Boxes) In addition, the bottoms and tops that form the symmetrical triangle in both patterns are made at the same Fibonacci levels. This is another indication that the two patterns are very similar. (Red arrow and circles) Therefore, when we look at the Fibonacci levels again, we can see that when the bull season is entered, the targets will be $10 and $87, respectively. This means 1672% when the first target arrives; In the second target, a profit of 14000% will be obtained. Since the risk/reward ratio in this scenario fits my trading style and strategy, I made my first purchase at this level. I will add when the orange resistance is broken and retested, and I will add my position at the retest after the triangle break (black) and wait for the $87 level.
MLong
by YavuzAkbay
3
MATIC STRONG BEARISH Falling KnifeTrend stron bearish RSI Momentum below 50 strong bearish Nearish Volume rising Support will break soon Matic will fall deeper ADA, MATIC, SOL face the music as Robinhood delists tokens Hours after Robinhood delisted ADA, MATIC, and SOL, the price action of the tokens was not what participants would have hoped for. The decision to end support for the tokens caused a $387 million wipeout from the crypto market. Several indicators revealed that ADA, SOL, and MATIC’s momentum were bearish. The prices of Cardano , Polygon , and Solana tumbled in double-digit figures after Robinhood confirmed that it was delisting the tokens from its platform. While the U.S. trading platform did not give cogent reasons for its decision, speculation went around that it was linked to the recent SEC “unregistered securities” tag. Unlike recently targeted exchanges like Binance and Coinbase, Robinhood is duly regulated by the SEC. Hence, it could have been necessary to take such action. Regulatory fear leads traders to liquidation In its statement, Robinhood noted that no other coins were affected. But holders of the ADA, SOL, and MATIC had until 27 June to stop transacting the tokens. As the sudden move sent shockwaves through the crypto market, the implication of the decision revealed itself. According to CoinMarketCap, SOL’s value decreased by 22.47% in the last 24 hours. ADA could not escape the heat, registering a 23.06% decrease. As for MATIC, it was down by 26.12% within the same period. Because of the significant decline in the prices of these tokens, liquidations in the past 24 hours surged to $387 million, with longs suffering the most. Based on the liquidation heatmap from Coinglass above, SOL accounted for $15.15 million out of the total wipeout. MATIC’S liquidation went up to $8.54 million, while ADA was $15.87 million. Red season for the cohort Meanwhile, an evaluation of the ADA/USD daily chart showed that the token’s momentum had breached the oversold region, as indicated by the Relative Strength Index (RSI). At 17.21, the RSI showed that selling pressure was tremendous. Thus, the momentum was bearish, and slight buying power might do almost nothing to save the price action from the press time state. The daily timeframe of MATIC was not any better. This was because the Awesome Oscillator (AO) was down to -0.1139. Thus, AO crossing into the negative territory indicated a bearish signal.
CAPITALCOM:MATICUSDShort
by DaveBrascoFX
🔥 MATIC Found Support At An Ancient TrendlineMATC has been one of the weaker major tokens of the last couple of weeks. During this week's sell-off, MATIC moved all the way towards an ancient support line which has been established at the start of the previous bull-market. This, combined with the 3D RSI being severely oversold, makes me believe it's more likely than not that we're going to see some kind of bounce in the near future. For an optimal risk-reward, I'm looking at the current ATH value as the profit target. A less risky bet would be to target 1.00 or 1.50, with a stop below the most recent local low.
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by FieryTrading
6