MATIC is down by lower than 1% regardless of Polygon’s current partnership with Nubank. Nevertheless, the coin may rally increased 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 area 🤯 pic.twitter.com/Fu06Vi7IpV
— Polygon – MATIC 💜 (@0xPolygon) October 19, 2022
In keeping with the phrases of the deal, Nubank will launch its personal chain utilizing Polygon Supernets. Nubank will even launch its digital token Nucoin on the Polygon community.
MATIC’s efficiency comes because the broader cryptocurrency market is underperforming. The overall 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 keep up its worth above the $19,000 assist degree. Ether, the second-largest cryptocurrency by market cap, can 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 because of 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 will not be near the oversold area at press time.
The bulls are gaining management of the market and will push MATIC increased earlier than the top of the day. MATIC may soar previous the primary main resistance degree at $0.9055 over the subsequent few hours.
Nevertheless, MATIC would wish the assist of the broader market to rally towards the $0.9402 resistance degree for the primary time since August.
If the bears take full management of the market, MATIC may slip under the $0.8033 assist degree earlier than the top of the day.
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