MATIC is one of the best performing cryptocurrency amongst the highest 20 cryptocurrencies by market cap.
The cryptocurrency market has carried out positively over the weekend, with the bulls taking full management of the market.
At press time, the overall market cap stands above $1 trillion, up by greater than 5% within the final 24 hours.
Bitcoin stays the main cryptocurrency by market cap and topped the $22k resistance stage over the previous 24 hours. Ether is eyeing the $1,500 psychological stage after including greater than 10% to its worth in the present day.
Meanwhile, MATIC, the native token of the Polygon ecosystem, is one of the best performer amongst the highest 20 cryptocurrencies by market cap. MATIC has added greater than 25% to its worth in the present day, outperforming the opposite main cryptocurrencies within the course of.
The rally comes after CoinLedger, a number one tax reporting platform for cryptocurrency, DeFi, and NFT customers, announced earlier in the present day that it had formally built-in with the Polygon blockchain (MATIC).
Thanks to this newest improvement, customers who work together with Polygon through dApps and wallets can now import their transaction historical past on to CoinLedger, permitting them to automate all of their capital beneficial properties, losses, and revenue tax reporting.
Key ranges to look at
The MATIC/USD 4-hour chart is bullish as Polygon has been performing properly over the past 24 hours.
The MACD line is inside the constructive zone, indicating bullish momentum. The 14-day RSI of 86 reveals that MATIC is at present within the overbought territory.
At press time, MATIC is buying and selling at $0.98 per coin. If the rally continues, MATIC may cross the $1 mark over the following few hours.
In the occasion of an prolonged bullish run, MATIC may additionally surge previous the $1.10 resistance stage over the following few hours or days. However, it will want the assist of the broader market to embark on a bullish run.
