MATIC is up by greater than 1% in the final 24 hours as the broader cryptocurrency market continues to recuperate from final week’s hunch.
MATIC, the native coin of the Polygon community, is up by greater than 1% in the final 24 hours. The efficiency comes as the broader crypto market slowly recovers from its poor outing final week.
The optimistic efficiency might be attributed to Nike revealing that it might be getting into the Polygon ecosystem.
Grab your kicks ????
+ BRING ???????? YOUR ???????? A ???????? GAME ????????@Nike is constructing their web3 experiences completely #onPolygon ????????This is the first step of the journey, and we will not wait to see how Nike engages its neighborhood by #web3https://t.co/bk19RLNodX
— Polygon – MATIC ???? (@0xPolygon) November 14, 2022
The Polygon workforce revealed that Nike, certainly one of the main sports activities attire producers in the world, will construct its web3 expertise on Polygon.
The efficiency additionally comes as the broader cryptocurrency market continues to take care of its optimistic begin to the week.
The complete cryptocurrency market cap stands round $845 billion, up by lower than 1% in the final 24 hours. Bitcoin is closing in on the $1,700 resistance stage after including 1% to its worth right this moment.
Ether, the second-largest cryptocurrency by market cap, can also be up by lower than 1% right this moment and is now buying and selling at $1,259 per coin.
Key ranges to look at
The MATIC/USD 4-hour chart stays bearish regardless of MATIC including greater than 1% to its worth right this moment. The technical indicators present that MATIC is recovering from final week’s poor efficiency.
MATIC/USD Chart By TradingView
The MACD line is at the moment under the impartial zone, indicating that the bears nonetheless management a big chunk of the market.
The 14-day relative power index of 47 reveals that MATIC is now not in the oversold area. At press time, MATIC is buying and selling at $0.938 per coin. If the optimistic pattern is maintained, MATIC could commerce at round $0.9893 earlier than the finish of the day.
MATIC could surge previous the second main resistance stage at $1.0641 in the close to time period if it will get help from the broader cryptocurrency market.
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