We need to talk about Polygon (MATIC). It has not done well in the past year, and it did not reach new highs like many other tokens in a crypto market that was doing really well. Nevertheless, a recent analysis conducted by Bixley has sparked hope for a big bullish breakout soon.
Bixley predicts there might be an increase in prices of Polygon (MATIC):
- Gains could go up to 7,800%;
- Price goals might reach as high as $55.
This forecast links the present course of Polygon (MATIC) with Ethereum (ETH) initial price variations, implying that an increase beyond the important trend line presently at $0.7 might trigger notable upward force.
Opposite to Bixley’s positive view, another analysis saw a bearish situation. This was indicated by a death cross forming on the weekly chart of Polygon (MATIC), which usually suggests that there might be a coming downward trend. Such movement could possibly result in price decreasing by about 70%. Nevertheless, the price of Polygon (MATIC) has seemed strong as it consolidated at $0.71 support level before rallying up to $0.7282.
Important resistance levels have been marked at $0.738, $0.766 and $0.794, which traders will closely monitor for more positive price movements. One more thing that they should monitor are the movements of a project that seems to have Polygon (MATIC) bested in terms of growth potential.
ScapesMania: Brief Overview of Fast Success
That project is none other than ScapesMania. It’s where casual gaming meets blockchain to create a world of endless possibilities.
Key Figures
- Over $6.125 million gathered in presale funding
- More than 18,400 participants in the presale campaign
- A vibrant community of over 60,000 social media followers
- $2.25 million in trade volume within 24 hours of exchange debut
- #1 position on DEXTools’ Hot Pairs list on the first trading day
- Initial market cap of $39.72 million
Features
- Innovative tokenomics designed to incentivize participation and value creation
- Seamless integration with leading decentralized exchanges like PancakeSwap
- Secure and transparent platform with a successfully conducted audit
- Versatile utility features, including rewards and community engagement opportunities
Impact
- Empowering users to participate in governance decisions and shape the future of the project
- Democratizing access to casual gaming and potential rewards for users worldwide
- Fostering vibrant communities and collaborations within the ScapesMania ecosystem
Future Outlook
- Continued growth and innovation with a focus on product development, market expansion, and user acquisition strategies
- Pioneering the future of casual gaming and blockchain technology with a commitment to excellence
Polygon (MATIC) Gains Momentum Amid Record User Engagement and Market Resistance
Now, after seeing what unmatched growth potential looks like, let’s return to the previously underperforming coin. In an intriguing development for the blockchain and cryptocurrency market, Polygon (MATIC) has recently recorded a milestone by consistently surpassing one million daily active users over the past month. This surge in user activity, particularly in the Non-Fungible Token (NFT) sector, has notably increased trading volume, showcasing robust interest and participation within the Polygon (MATIC) ecosystem.
Despite this uptick in user engagement, the DeFi (Decentralized Finance) sector on Polygon has witnessed a slight downturn, with the Total Value Locked (TVL) decreasing from $1.1 billion to $890 million. Interestingly, decentralized exchange volumes on the network have also seen a decline. This suggests a shift in user preference, possibly diverting to other platforms for DeFi interactions, which could impact the long-term growth of the network.
On the trading front, Polygon (MATIC) is currently facing a crucial resistance level at $0.76, according to market analysts. After enduring a significant downturn, the price of Polygon (MATIC) has rallied 28% since mid-April. However, it now confronts a resistance that previously acted as support, challenging its upward trajectory. The market sentiment is mixed, with a significant portion of Polygon (MATIC) address holders being out of profit, yet the stability in recent transaction data suggests a lack of major selling pressure at current levels.
Experts suggest that if Polygon (MATIC) can breach the $0.76 resistance, it may pave the way for further gains, potentially reaching up to $0.95, as indicated by Fibonacci retracement levels. This next phase of price movement could be crucial for determining whether Polygon (MATIC) can sustain its recovery or if it will succumb to market pressures and retreat to lower support zones.
Conclusion
Polygon (MATIC) is currently positioned for a significant breakout, potentially resulting in a massive 7,800% increase in price according to predictions from analyst Bixley. However, there are also many analysts that predict that the future growth of ScapesMania can eclipse everything that Polygon (MATIC) is dreaming of. The casual gaming project already has a track record of success, which is why it deserves a thorough examination from you.
Site: https://scapesmania.io/
Twitter: https://twitter.com/ScapesMania
Telegram: https://t.me/scapesmania
Announcement Group: https://t.me/scapesmaniaAnn
Disclaimer: The information presented in this article is part of a sponsored/press release/paid content, intended solely for promotional purposes. Readers are advised to exercise caution and conduct their own research before taking any action related to the content on this page or the company. Coin Edition is not responsible for any losses or damages incurred as a result of or in connection with the utilization of content, products, or services mentioned.
