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Polygon Adoption News To Break Resistance?

  • Polygon's price hasn't increased much since January 2023's cryptocurrency boom (MATIC).

  • Fractal, a web 3.0 game platform, recently included Polygon. Polygon users will have Fractal-based studio, marketplace, and tournaments.

25 Jan 2023 By : COIN GABBAR
Polygon Adoption New

The continuous cryptocurrency surge from the beginning of January 2023 has not yet resulted in a significant increase in the price of Polygon (MATIC).

Contrary to its technical development and price increase in 2022, Polygon's latest surge since the beginning of January 2023 has not been as successful (MATIC). Although the altcoin's price has increased significantly since the start of the year, it still falls short when measured against other cryptocurrencies. For Polygon, 2022 ended up being a noteworthy year thanks to a number of productive relationships and advancements in the development field. However, if the cryptocurrency boom continues, it's possible that the price of MATIC will increase during the next several weeks.

Switches to Polygon Network for Gaming Platform

The web 3.0-based game platform Fractal recently announced that it was growing to include the Polygon network. With the addition, Polygon users will have access to Fractal-based studio, marketplace, and tournaments. MATIC has failed to overcome $1.30 as resistance in the range it is currently trading in. The altcoin is presently trading between the mid level and range high, and chances are MATIC could breach resistance, according to Crypto Banter. According to CoinGabbar, the price of MATIC is currently $0.9511, up about 1% over the previous day.

On the other hand, data from Santiment Insights suggests that the current situation could result in a bull trap formation. The activity of whale sellers when the price is rising raises the possibility of a bull trap. With respect to Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), fewer addresses are holding sizable amounts of assets as the price has risen. This might imply that the whales are liquidating their holdings as the market price increased.