Polygon: Promising 😊After completing wave 2 in green in the green zone between $0.44 and $0.42, Polygon has proceeded to battle its way upwards. If it can keep up this drive, it should soon make it above the resistance at $0.62, which would then augur well for further ascent.
Polygonanalysis
MATIC Network (Polygon) Token Analysis 31/03/2021 Fundamentals:
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.
Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer.
Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.
The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.
Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.
Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.
Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.
Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.
The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain.
MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.
Polygon is self-described as a Layer 2 scaling solution, which means that the project doesn’t seek to upgrade its current basic blockchain layer any time soon. The project focuses on reducing the complexity of scalability and instant blockchain transactions.
Polygon uses a customized version of the Plasma framework which is built on proof-of-stake checkpoints that run through the Ethereum main-chain. This unique technology allows each sidechain on Polygon to achieve up to 65,536 transactions per block.
Commercially, the sidechains of Polygon are structurally designed to support a variety of decentralized finance (DeFi) protocols available in the Ethereum ecosystem.
While Polygon currently supports only Ethereum basechain, the network intends to extend support for additional basechains, based on community suggestions and consensus. This would makePolygon an interoperable
As a Layer 2 solution utilizing a network of proof-of-stake validators for asset security, staking is an integral part of the Polygon ecosystem. Validators on the network will stake their MATIC tokens as collateral to become part of the network’s PoS consensus mechanism and will receive MATIC tokens in return.
Members of the network who do not wish to become validators can delegate their MATIC tokens to another validator, but will still take part in their staking process and earn staking rewards.
In addition to the proof-of-stake checkpointing, Polygon uses block producers at the block producer layer to achieve a higher degree of decentralization. These block producers give finality to the main chains using
MATIC tokens are released on a monthly basis. MATIC currently has a circulating supply of 4,877,830,774 MATIC tokens and a max supply of 10,000,000,000 MATIC tokens.
At its initial private sale in 2017, 3.8 percent of MATIC’s max supply was issued. In the April 2019 launchpad sale, another 19 percent of the total supply was sold at $0.00263 per token to generate $5 million.
The remaining MATIC tokens are distributed as follows:
Team tokens: 16 percent of the total supply.
Advisors tokens: 4 percent of the total supply.
Network Operations tokens: 12 percent of the total supply.
Foundation tokens: 21.86 percent of the total supply.
Ecosystem tokens: 23.33 percent of the total supply.
According to the release schedule, all the tokens will be released by December 2022.
Polygon (formerly Matic Network) was launched in October 2017. Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, two experienced blockchain developers and a business consultant.
Before moving to its network in 2019, the Polygon team was a huge contributor in the Ethereum ecosystem. The team worked on implementing the Plasma MVP, the WalletConnect protocol and the widely-used Dagger event notification engine on Ethereum.
The team included co-founder of Polygon, Jaynti Kanani. Jaynti, a full-stack developer and blockchain engineer currently serves as the CEO of Polygon.
Jaynti played an integral role in implementing Web3, Plasma and the WalletConnect protocol on Ethereum. Prior to his blockchain involvement, Jaynti worked as a data scientist with Housing.com.
Co-founder and chief operations officer of Polygon, Sandeep Nailwal is a blockchain programmer and entrepreneur. Before jointly starting Polygon (formerly Matic), Sandeep had served as the CEO of Scopeweaver, and the chief technical officer of Welspun Group.
Anurag Arjun is the only non-programming co-founder of Polygon. As a product manager, he has had stints with IRIS Business, SNL Financial, Dexter Consultancy and Cognizant Technologies.
Technical Analysis:
the price is in the retracement phase and soon will start its impulsive wave,
there are total of 2 Targets defined by the Fibonacci expansion of the previews Bullish wave,
the 1 TP is 127%
the 2 TP is 161.8%
MATIC Polygon: 4H Chart ReviewHello friends, today you can review the technical analysis idea on a 4H linear scale chart for Polygon ( MATICUSD ).
Polygon price has been on a downward trend with the price recently narrowing into the apex of a triangle. There are multiple Support and Resistance Lines shown. The price may make an attempt to get to the 0.236 and 0.382 Fibonacci Retracement areas with the Ichimoku Cloud possibly creating resistance. RSI, MACD and MFI look bearish. Price is below the 20, 50 and 200 SMA.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
MATIC/POLYGON My quick analysisIn short term, it is the end of the C.
so it might do a rally->1-2-3-4-5
But the ABC pattern on the big picture seems inevitable.
My guess is it will drop soon in the next 30 days.
Polygon: Quo Vadis, Polygon?Polygon has to make a decision: Where will it go after skidding down to the $2 mark? There are two equally attractive possibilities, well almost: There is a 45% change that it could head back home and fall under its support line at $1.44. At this point, it should hole up even more deeply below $1 and take a holiday at the yellow beach strip between $0.328 and $0.620. However, we rather expect it to take heart and go for another option. Our favored scenario features Polygon in action, rising up until the resistance line at $2.899 and aiming for even higher goals from there.
So, our answer to the question “Quo vadis, Polygon?” is “Sursum!”
POLYGON MATIC... 80% of breakout attempt fail.Goodmorning from the coldy Amsterdam.
I love this project of Polygon.. And I believe that ZK rollups will be the next narrative.
Either way when looking at the chart we see price battling the ATH. What are the chances of the price breaking the ATH now?
It still can be definitely but the chances are 60-40 now..
If you want to have an idea of what the bars at the right side will do then look at the left side.. Markets tend to have inertia.
That means that markets will do what it has been doing for 80% of the time.
MATIC bearish movement analysis !!Hello everyone , as we all know the market action discounts everything :)
We are gonna look at a 1D chart and gonna use technical analysis tool to understand the MATIC (Polygon) movement .
Matic (Polygon) seems to enter a bearish trend , the crypto has lost over -5.99% in the last 24 hours and -23.87% in the last week alone , now if we look at the 1D chart we can see that the bears are holding control over the the market price . so we are getting a big sell signal but lets use indicators to confirm this bearish movement .
1_ The market price at 0.800430 moving below the MA and the EMA ,MA at 0.952522 and the EMA at 0.933803. (bearish sign)
2_RSI reached oversold zone at 28.91 (bearish sign) we cant see a reversal yet until the RSI starting getting momentum up.
3_MACD seems to be at a negative crossover (bearish sign)
I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move.
Support & Resistance points :
support Resistance
1_ 0.78230 1_0.86930
2_ 0.75275 2_0.92675
3_ 0.69530 3_0.95630
Fundamental point of view :
MATIC is an ERC-20 token native to Polygon (formerly Matic Network), which is a Layer 2 scaling solution. Polygon combines a protocol and a framework for building blockchain networks, which are fully compatible with Ethereum and connected to its mainnet. Polygon was launched in 2017 and moved to its own network in 2019. The project is backed by some big names like Binance and Coinbase.
According to WalletInvestor, Matic price will grow from $1.137 to $6.272 in one year. That makes MATIC an awesome investment. The long-term earning potential is 451.63%. Predicted price for the end of 2026 is $26.595.
Answering the question about if Polygon is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.56306 with a reduction to $1.44606 by the end of 2022.
so speaking long term Matic could be a good investment but for the short term the bears are showing no signs of losing control.
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This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice.
If you have any questions please ask
Thank you for reading.
