MATIC is now known as Polygon. It works on the issues of slow block confirmations and high gas fees before targeting mass adoption by mainstream users. This will also enhance the user experience. MATIC will simplify the interaction between users and the decentralized world. https://ift.tt/2ZVgPBB Price Action of the Cryptocurrency As per the announcement on February 9, MATIC became “Polygon” for a strategic change to become a layer-two aggregator. It is competing against POLKADOT and to increase interoperability on Ethereum. Since then MATIC has moved from $0.07 on February 9 to an all-time high of $0.197 on February 20 before the market downturn pushed it back down to $0.111 on February 23. Post that, MATIC recovered 62% to trade at $0.16 as the community and total value locked on Polygon continues to grow. High gas fees on the Ethereum network have increased the need for layer-two solutions, and Polygon has emerged as one of the top solutions with projects like Aavegochi and Golem already operating on the protocol. With the rising price of $0.23, the Advance/Decline ratio is at 0.78 which indicates a strong signal to move upwards. The Accumulation-Distribution Line has been increasing steadily which shows the currency is in an accumulation phase with a higher chance of staying higher. The currency volume in trade is 520 million coins. The current highs of $0.23 and lows of $0.19. The EMA (9) is at $0.17 indicating a nearby support level. The Coefficient of Correlation is at -0.7 indicating the price of MATIC is moving inversely to the movement of USD. Movement Ahead in MATIC The currency has moved upwards by 31% during the last 24 hours. If the price moves beyond the resistance level of $0.17 and then the second resistance is seen at $0.21. If it crosses this, then it will stay there for upto a few days and can cross to $0.78 if the support level of $0.50 is maintained. Various price predictions see a new direction with Polygon increasing its mass adoption.
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