- MATIC skyrockets to new 7-day high amid market rally.
- Polygon’s recognition among the top 100 companies boosts investor trust in MATIC.
- Bullish momentum strengthens for MATIC with rising indicators.
Polygon (MATIC) has had an impressive gain over the last 24 hours, propelling its value from a low of $0.6407 to a new 7-day peak of $0.6992.
The impressive upswing was fueled by Bitcoin reaching a remarkable 6-week high of $30,737.33 and Polygon Labs gaining recognition as one of the top 100 significant companies in the world in 2023.
Surreal to see @0xPolygonLabs listed as one of the 100 most influential Companies in the world for 2023. Polygon labs is committed to work for the mission of @0xPolygon protocol, to create "The value layer of the internet". The real journey of Polygon ecosystem has just begun… pic.twitter.com/ZQbie5ty6U— Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) June 21, 2023
As of press time, the bullish dominance of the MATIC market was still in control, resulting in a 5.78% increase to $0.689.
Meanwhile, Polygon Labs’ inclusion among the world’s top enterprises has boosted investor trust in its native token, MATIC. As a result, Polygon’s market capitalization and 24-hour trading volume increased by 5.78% and 23.50%, reaching $6,398,673,202 and $417,893,228, respectively.
MATIC/USD 24-hour price chart (source: CoinMarketCap)
The MATIC/USD price chart’s Relative Strength Index (RSI) rating of 76.40 indicates that the market’s bullish momentum is still strong. This level means buyers are in command, and MATIC/USD is in strong demand. However, traders should exercise caution since the RSI is approaching the overbought level of 80.
With a value of 0.018, the MACD blue line climbs above its signal line and enters positive territory, adding to the optimistic feeling. This MACD movement indicates a possible rising MATIC/USD price trend.
The blue line moving above the signal line presents a bullish signal indicating that buyers are gathering momentum and that additional price gains are possible.
MATIC/USD 4-hour price chart (source: TradingView)
An Average Directional Index (ADX) score over 25 indicates a strong trend, while a reading below 20 indicates that the market is ranging or consolidating. As a result, the MATIC/USD market’s ADX rating of 27.03 suggests that bullish momentum is high.
A Chaikin Money Flow (CMF) rating of 0.28 supports the growing purchasing pressure, indicating an optimistic mood. This CMF rating and trend in positive territory suggest that money is entering the market, which is a promising sign for investors.
MATIC/USD 4-hour price chart (source: TradingView)
In conclusion, MATIC’s impressive surge, coupled with Polygon’s recognition, signals a bullish trend with strong investor confidence and potential for further price gains.
Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.
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