Category: Cryptocurrency News

MATIC’s price shows strength as it bounces from a downtrend range price rallied to a high of $0.95 with eyes set on $1.  MATIC faces a major issue break and holds above 61.8% Fibonacci value and trends higher to a region of $1. MATIC’s price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies. The price of Polygon (MATIC) has been one of the standout performers during the past few weeks that saw the price of Bitcoin (BTC), Ethereum (ETH), and other altcoins struggle to hold their key Support, the price of Polygon (MATIC) showed strength holding above and bouncing off that region of $0.77 away from this support area. The past few days have seen the crypto market has looked more decent, with the likes of Bitcoin (BTC) and Ethereum (ETH) showing some great price movement in recent times. MATIC’s price is rallying from $0.83 to a region of $0.95 as the price aims to take the market by its horn. (Data from Binance) Related Reading: The Inverted Bitcoin Chart Bears Don’t Wanna See | BTCUSD Analysis October 27, 2022 Polygon (MATIC) Price Analysis On The Weekly Chart In recent times, Polygon has struggled to regain its bullish momentum; despite the uncertainty that has befallen the crypto space, the price of MATIC held its ground as price defended its key support area of $0.77.  MATIC’s price had struggled to replicate its rally that took the price of MATIC to an all-time high of $3 before it faced rejection to trend higher. After trading in a range for weeks as the price continued to look difficult to trade due to little to no volume to push the price higher as the price continued to look stagnated, MATIC finally showed some movement, rallying from its weekly low of $0.75 to $0.85 and closing higher after several weeks.   Weekly resistance for the price of MATIC – $1. Weekly Support for the price of MATIC – $0.77. Price Analysis Of MATIC On The Daily (1D) Chart In the daily timeframe, the price of MATIC continues to show a more bullish scenario as the price rallied to a high of $0.95 before facing resistance to the trend to a region of $1.   The price of MATIC needs to break and hold above $0.97 for the price to trend higher to a region of $1, which is a key supply zone for most traders.  The Fibonacci retracement (Fib) value of 61.8% indicates MATIC’s price faced a rejection to trend higher as the price tried to break above this key value. The price of $0.97 corresponds to the Fib value of 61.8%. If the price of MATIC closes above this level, we could see a rally to $1-$1.2. Daily resistance for the MATIC price – $1. Daily Support for the MATIC price – $0.85. Related Reading: Can Elon Musk Influence The Next US Election? Featured Image From zipmex, Charts From Tradingview

The launch of Aptos last week was …somewhat… meh… for Aptos. But mostly, I think they will view it as successful because it didn't simply plummet to nothing like say, ICP did. There are massive allegations flying around about the dangers and concerning issues of this new chain. It seems that pretty much every investment…
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The team stated that the next steps were to find the source of the non-determinism, release an update, and restart the state machine, but there have been no updates since.

Ethereum price has held onto its bullishness on the one-day chart. In that timeframe, the altcoin has managed to increase in value by 3%. Over the last week, the coin rallied over 21%, breaking past multiple resistance levels, which has further strengthened the bulls. The coin has to zoom past two important resistance lines in order to continue its bullish streak. The technical outlook of the coin continued to display bullish momentum. There was a surplus of buyers as Ethereum price shot up to the overbought zone. Bitcoin has finally settled at the $20,000 price mark over the last 24 hours, turning other altcoins positive too. Ethereum price has been rangebound for multiple weeks, but with the overall market turning green, the coin has helped the altcoin eye its next major resistance line. If ETH manages to break past the $16,000 zone, then a move to the $2,000 price mark could be likely. On the other hand, if buying strength loses steam, then ETH can again start to exhibit rangebound price movement. Ethereum Price Analysis: One Day Chart ETH was trading at $1,560 at the time of writing. Ethereum price has soared considerably over the past week, breaking past its consolidation phase. If the coin has to sustain this price momentum, it is important that it trades above its immediate resistance of $1,630. Moving past that level will help the bulls challenge the $1,700 price mark. This would help the bullish thesis gain strength. Once the altcoin moves past the $1,900 mark, Ethereum price will be completely in the control of the bulls. In case the surge doesn’t last, a fall will bring the altcoin to $1,300 first and then finally to $1,200. In the past few trading sessions, the amount of ETH traded witnessed an increase, pointing towards higher demand for the altcoin. Technical Analysis The altcoin was overbought on the one-day chart. The last time Ethereum visited this zone was in the month of August. This marked a multi-month high for the altcoin in relation to the buying pressure it witnessed. The Relative Strength Index was above the 80-mark, which signifies that ETH was overbought as demand for the coin increased. Ethereum price was above the 20-SMA line, which was a sign of bullishness as buyers were driving the price momentum in the market. With sustained demand, the 20-SMA could cross above the 50-SMA line, forming a golden cross, which is considered to be bullish. Related Reading: Solana Price Bounces Back, Move Above $34 Remains Crucial The other technical indicators were also quite bullish, supporting the notion that buyers had taken over. Moving Average Convergence Divergence indicates the price momentum of the coin and the price direction. The MACD was positive as it formed green signal bars which were growing. This pointed to a buy signal for the coin. The Directional Movement Index was also positive as +DI was above the -DI line, which signals a bullish price direction. The Average Directional Index (red) was above the 20-mark, forming an uptick pointing in the price direction, gaining strength. Related Reading: Here’s What’s Keeping Ethereum From Taking Bitcoin’s Shine, ETH Claims $1,500 Featured Image From UnSplash, Charts From TradingView

submitted by /u/iceewest [link] [comments]

Does it matter where it’s being used? I’m seeing on CoinBase that Matic (Polygon) & ETH itself is a supported network. Am I just confused? Lol submitted by /u/jmmenes [link] [comments]

U.S. Senator Sherrod Brown has asked Fed Chair Jerome Powell not to forget the Federal Reserve’s “dual mandate” when making decisions about hiking interest rates at the next Federal Open Market Committee (FOMC) meeting. “It is your job to combat inflation, but at the same time, you must not lose sight of your responsibility to […]

Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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NFTs could change the way subscription services work by allowing users to sell or rent out their subscriptions when they don’t need them.

PRESS RELEASE. Launching its much awaited V2 testnet on the Goerli chain today, UniLend team is looking to Revolutionise the Lending and Borrowing scene in the DeFi space. It is the first ever protocol which claims to “Make Every Digital Asset Productive”. Earlier, UniLend Finance CEO, Chandresh Aharwar had unveiled the version of UniLend Dapp […]