- MATIC is currently trading at $0.8462 after a 0.70% increase in price.
- The crypto has risen above both the 9-and-20 Exponential Moving Average.
- Polygon announced via Twitter that they have engaged Halborn Security to conduct a security audit.
According to the crypto market tracking website CoinMarketCap, Polygon (MATIC) is currently trading at $0.8462 after a 0.70% increase in price over the last 24 hours. In addition to this, the crypto is also still in the green by more than 14% over the last week.
MATIC was able to strengthen against the two biggest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH) by 1.45% and 0.39%, respectively.
Looking at the daily chart for MATIC/USDT, the price of MATIC has risen above both the 9-and-20 Exponential Moving Average (EMA) lines. While on the topic of EMAs, the 9 EMA recently crossed bullishly above the 20 EMA line. This could signal the continuation of the bullish move.
Traders just need to tread with caution as the Relative Strength Index (RSI) indicator suggests that MATIC’s price has formed a local top. This is evident in the fact that the RSI line has sloped negatively towards the oversold territory.
Another technical indicator that suggests that the break above the EMAs will be short-lived is the introduction of sell volume today that currently overshadows the token’s buy volume.
In related news, Polygon took to Twitter to announce that they have engaged Halborn Security, an award-winning security firm, to conduct a security audit. The Halborn team will have 8 weeks for the assignment and was appointed 2 full-time security engineers who are themselves experts in advanced penetration testing, smart contract hacking, and blockchain protocols.
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