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Polygon (MATIC)

Will Uniswap on Polygon Deployment Proposal Result in Rebound of MATIC Price?

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The most current Polygon price analysis indicates that the price is in a downtrend today, as the price has dropped dramatically in the last 24 hours. For the previous few weeks, the bears have been able to consistently maintain their lead. 

The overall trend has been negative, notwithstanding some ups and downs where bulls had a chance to upgrade price. During the day, the price has also dropped to $1.56.

At the time of writing, MATIC is trading at $1.56, down by 4.5% in the last 24 hours. 

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In case of a continued downtrend, the support can be found at $1.48. The resistance on the upside, in case of an uptrend, is at $1.61.

However, if the attitude improves, this cryptocurrency could see a significant increase, fueled by strong fundamental advances. 

Uniswap on Polygon!

One of the most intriguing updates is a suggestion made on the Uniswap Governance Forum by the popular Layer 2 scaling solution, which suggests installing the Uniswap protocol on Polygon’s ecosystem. 

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According to the network’s creators, this might result in a significant rise in user base, much lower transaction fees, and more user activity for one of the most well-known DeFi brands. 

The Polygon team is enticing Uniswap to use its technology by pledging a considerable amount of funds from its treasury to improve liquidity, as well as a variety of non-financial activities to help the company grow. It makes an attempt to entice Ethereum’s largest DEX by claiming that the ecosystem would be completed without DeFi’s main project. 

The interest would be mutual, as members of the Uniswap community have previously recommended such a move and received widespread support.

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For ‘buy stop’ liquidity, MATIC’s price could rise and sweep the $1.67 resistance barrier. The bearish thesis will be invalidated if this increase in purchasing demand drives Polygon to make a higher high over $1.77. 

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Polygon (MATIC)

Polygon (MATIC) Analysis: Will MATIC cross above the $2 mark?

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  • MATIC is currently trying to gain back its bullish momentum falling due to market correction a couple of days ago
  • The current market price of MATIC has been up by 9.94% over the past 24 hours
  • Its monthly performance has been down by 10.97%

Polygon, or MATIC, has been suffering from a bearish trend for quite a long time. The token with a current market rank of 19 and market dominance of 0.47% observed a steady rise in its price on November 29 for a whole day. After achieving a local breakout, the token then descended 20% of what was achieved the day earlier for a steady position in the market. The market cap of MATIC is now 2.35% greater than it was a couple of hours before. The trading volume registered an increment of 37.02%. The MATIC/BTC pair enjoyed a surge in its value by 2.68%. Meanwhile, the MATIC/ETH pair was downgraded by 1.31% during the intraday session.

TradingView

The 30-minute chart above explains the current short-term scenario of MATIC. Its current climb can only be dubbed an attempt because the current value has come down to $1.73 from $1.87 in a single day. However, one can hope for a better tomorrow as the trend lines (white lines) drawn at the top and bottom of the current trend candles hints at a continuous bullish trend in the future. At first, the 30 MA line resists the climb, but the 100 MA line has been seen running upward to support the current price action. 

MATIC’s current rally get a hand of support from the oscillators

TradingView

MATIC fell prey to the volatility in the last week and gave breakouts and low settling results. The 4-hour chart shows the current position of the token concerning its past long-ranged data. The MACD line is above the zero level, and the signal line, hence the token, looks bullish. But the MACD line has formed a curve and may go down by a level or two if a dip occurs. The RSI graph stays in the neutral zone with a possibility of getting into the overbought zone. 

The resistance is at $1.88 and $1.99. The support levels are present near $1.49 and $1.65.

Conclusion- MATIC is proposing a better upclimb after suffering from volatility and disturbance in its market price. One can consider MATIC at its current market value for a buy or wait for its price to drop further to enter the market. However, after the dip, one should conduct research and analysis on the token again to look out for any abnormal symptoms or trend reversals. 

Resistance- $1.88 and $1.99

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Support- $1.49 and $1.65

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Polygon (MATIC)

Workflow Automation Platform PARSIQ Integrates Polygon Network

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PARSIQ announced today that it has completed the integration of the Polygon network into its platform for dozens of projects.

Blockchain monitoring and workflow automation platform PARSIQ has recently completed the integration of the Polygon network into its ecosystem.

PARSIQ Integrates Polygon

According to a Monday press release shared with CryptoPotato, investors, traders, and development teams can now access several Polygon blockchain data in real-time via the PARSIQ platform, acquire immediate feedback, and explore various monitoring solutions concepts.

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PARSIQ employs several cutting-edge technologies designed to help users create custom workflows from real-time data streams.

Leveraging PARSIQ’s Smart Triggers feature, a reverse oracle solution, project developers can easily gather on-chain data and allow blockchain activities to trigger predefined actions on real-life applications while reducing the overall workload.

Interestingly, these Triggers can be created seamlessly by any user, regardless of their coding background.

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Speaking on the just-completed integration, PARSIQ CEO Tom Tirman said, “Polygon’s popularity has proved its value as a leading scaling and infrastructure solution for Ethereum…

PARSIQ is delighted to bring Polygon users our suite of products, like Smart Triggers and wallet TRACKR, allowing automations triggered by real-time on-chain activity and providing enhanced security services. With Polygon we share a common goal in bringing blockchain technology to the world, and we’re excited about the potential of this ongoing partnership”

Additionally, PARSIQ recently introduced ABI, which allows users to import custom smart contracts onto its platform to clarify the kinds of events they wish to monitor.

Boosting Polygon

The technology, as well as many others that PARSIQ has to offer will boost the Polygon ecosystem and help to discover several new use cases, products, services, and opportunities.

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The Polygon network is developing at a breakneck pace, providing both speed and cost-efficiency. The integration with PARSIQ will help equip individuals and project developers using Polygon with different tools needed for their growth.

Some solutions like the PARSIQ IQ Protocol, designed for staking and renting of tokens, will help power the tokenomics of many Polygon projects that are currently available and those that will be developed in the future.

PARSIQ noted that Polygon is a great addition to its network and will help further improve the integrity of both ecosystems.

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Polygon Price Analysis: MATIC/USD set to break the intraday highs of $1.69

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  • Polygon price analysis is bullish today.
  • MATIC/USD saw another selloff overnight.
  • MATIC/USD is currently trading at $1.63

The triangle price pattern is bearish today, as we anticipate recovery to follow after another drop. Since the support level of $1.55 was recognized again, MATIC/USD should recover some of its losses during the next 24 hours.

The Awesome Oscillator displays red bars today, as MATIC/USD continues its drop. Since the triangle price pattern is bearish today, we should see MATIC/USD recover some of its losses during the next 24 hours. Losing another $0.2 against USD overnight left an impact on sentiment towards this cryptocurrency.

The Awesome Oscillator rhythm displays red bars today, suggesting that bears control MATIC/USD. Another drop is expected, with the supporting zone now located below the current price point at around $1.5. Before resuming its uptrend, another corrective period could be required before reaching higher levels again – this would allow for support increase in MATIC/USD prices against USD and other currencies on exchanges worldwide.

A more significant breakout can be expected once the triangle pattern is terminated. For reversal signals to occur, though, the Support at $1.55 would need to be broken. A move above the $1.7 resistance could then challenge for further gains towards $2.

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MATIC/USD 4-hour chart: MATIC looks to retrace from $1.55

On the 4-hour chart, further downside was rejected for the Polygon price supports the $1.55 mark prevented further downside.

Polygon Price Analysis: MATIC/USD set to break the intraday highs of $1.69 1
MATIC/USD 4-hour chart. Source: TradingView

The price of a triangle has been on a significant climb in recent weeks. After establishing Support at $1.45, MATIC/USD began to establish higher lows, reaching a high of approximately $1.70 on the 25th of November.

The MACD indicator displays a blue bar today, signaling that the overall momentum is bearish. This could be because the market is still awaiting news on MATIC/USD’s plans before implementing any major changes in price action against USD and other currencies.

The Bollinger bands are wide apart today, suggesting volatility is low. Traders seem to be sitting back and not reacting to any changes in price support. However, if Polygon manages to push through $1.55 this morning (GMT), we should see significant upwards progress towards the next resistance level at $1.7.

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Polygon Price Analysis: Conclusion 

The price of a triangle has been steadily rising since late May. The bulls have consistently pushed the price higher, and the traders are still bullish on this pair despite its fall from $1.60 to $1.55 overnight. After another drop overnight to the $1.55 support, we anticiSupportrecovery, which is favorable for investors who believe in triangles as an investment strategy due to future price movemSupportdicated by preceding highs and lows over time.

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