SNEAK PEEK

• Polygon’s zkEVM upgrade fuels scalability and lowers fees.
• LayerX Capital’s entire MATIC stake reflects unwavering belief.
• MATIC market soars, signaling positive investor sentiment.

According to recent news, the proposed upgrade to Polygon PoS is generating a lot of buzz in the community. The panelists, @davidesilverman, @matrzeszowski, and @paulgebheim, will be diving into the technical details of this proposal and discussing its potential impact on the Polygon ecosystem. The implementation of a zkEVM validium would provide a significant boost to the network’s scalability and security. 

Polygon PoS → ZK L2@davidesilverman, @matrzeszowski, and @paulgebheim will be discussing the latest community proposal that would upgrade Polygon PoS to a zkEVM validium.

Host: @Crypto_Texan
June 22, 5:00 PM UTChttps://t.co/KEMRrDUmgT

— Polygon (Labs) (@0xPolygonLabs) June 20, 2023

As a result of the project’s potential, LayerX Capital acquired 2.35M $MATIC ($1.48M) from Binance and staked all 14.36 million MATIC ($9 million). During the rally, bullish momentum consequently pushed MATIC prices from an intraday low of $0.5929 to an intraday high of $0.6559.

LayerX Capital accumulated 2.35M $MATIC ($1.48M) from #Binance and staked all 14.36M $MATIC($9M) 5 hrs ago.https://t.co/DEKy7ksMSo pic.twitter.com/z58rtZY3Ny

— Lookonchain (@lookonchain) June 21, 2023

As of press time, MATIC was trading at $0.6542, up 7.56% from the previous market close. MATIC’s market capitalization and 24-hour trading volume increased by 7.71 and 40.39%, respectively, to $6,079,511,415 and $331,195,190. This rise indicates a positive market trend and signals investors are becoming more optimistic about MATIC’s performance.

The Keltner Channel bands point northward on MATIC’s 4-hour price chart, indicating a bullish trend, with upper and lower values of 0.659 and 0.606, respectively. The current price of MATIC may entice traders to buy it with a sell target price near the upper Keltner Channel. 

As price movement proceeds upward and above the middle band on the MATIC price chart, green candlesticks develop, supporting the bullish momentum. However, when the bulls’ power dwindles, traders should know potential resistance levels and apply a stop loss to minimize risk.

The Know Sure Thing (KST), which has a reading of 77.05 and has moved above its signal line, indicates that the market’s bullish momentum is gaining strength. If the KST line crosses beneath the signal line, a sell signal, investors might think about liquidating existing long positions or establishing new ones. 

The Aroon up and down values are 100.00% and 42.86%, respectively, on the 2-hour price chart. This motion demonstrates that the trend is strong and is likely to continue for some time, despite the possibility of minor reversals along the way, allowing traders to pinpoint potential entry and exit opportunities for trades. 

The Chaikin Money Flow (CMF) value of 0.21 in the MATIC market, which is positive, may suggest an optimistic forecast for the coin’s future performance. Since a positive CMF indicates that capital input exceeds capital outflow, investors may buy more MATIC tokens than they sell.

In conclusion, MATIC rides the wave of bullish momentum, fueled by Polygon’s zkEVM upgrade and investor frenzy, soaring to new heights with positive market sentiment.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions

• SEO Powered Content & PR Distribution. Get Amplified Today.
• EVM Finance. Unified Interface for Decentralized Finance. Access Here.
• Quantum Media Group. IR/PR Amplified. Access Here.
• PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
• Source: https://investorbites.com/polygon-matic-price-analysis-21-06/