MATIC is down by lower than 1% regardless of Polygon’s current partnership with Nubank. However, the coin could rally greater over the approaching hours and days.
MATIC, the native coin of the Polygon community, is down by lower than 1% within the final 24 hours. At press time, MATIC is buying and selling at $0.8432 per coin.
The poor efficiency comes regardless of Polygon saying a strategic partnership with Nubank, the main fintech platform in Latin America.
#Polygon is taking @Nubank from #Web2 ➡️ #Web3!
In a strategic partnership with Polygon, Nubank is launching its personal chain utilizing #PolygonSupernets & thus its digital token Nucoin #onPolygon ????
This transfer will open the gateway for 70 mn+ Nubank customers to the #Web3 house ???? pic.twitter.com/Fu06Vi7IpV
— Polygon – MATIC ???? (@0xPolygon) October 19, 2022
According to the phrases of the deal, Nubank will launch its personal chain utilizing Polygon Supernets. Nubank may also launch its digital token Nucoin on the Polygon community.
MATIC’s efficiency comes because the broader cryptocurrency market is underperforming. The whole cryptocurrency market cap stands at $923 billion, down by lower than 1% within the final 24 hours.
Bitcoin is up by lower than 1% and continues to take care of its worth above the $19,000 assist stage. Ether, the second-largest cryptocurrency by market cap, can also be up by lower than 1% and is at present buying and selling at $1,300 per coin.
Key ranges to look at
The MATIC/USD 4-hour chart is bullish due to Polygon including greater than 14% to its worth over the previous seven days.
MATIC/USD Chart By TradingView
The MACD line is at present within the constructive zone, indicating that MATIC is performing excellently in the intervening time. The 14-day relative power index of 53 exhibits that MATIC just isn’t near the oversold area at press time.
The bulls are gaining management of the market and could push MATIC greater earlier than the top of the day. MATIC could soar previous the primary main resistance stage at $0.9055 over the following few hours.
However, MATIC would wish the assist of the broader market to rally towards the $0.9402 resistance stage for the primary time since August.
If the bears take full management of the market, MATIC could slip beneath the $0.8033 assist stage earlier than the top of the day.
Where to purchase MATIC now
eToro
eToro gives a variety of cryptos, resembling Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, be taught from, and replica or get copied by different customers.
Bitstamp
Bitstamp is a number one cryptocurrency change which gives buying and selling in fiat currencies or widespread cryptocurrencies.
Bitstamp is a completely regulated firm which gives customers an intuitive interface, a excessive diploma of safety to your digital belongings, glorious buyer assist and a number of withdrawal strategies.
