• Polygon (MATIC) coin is currently trading below $1 despite the announcement of several partnerships.
• AntiMetal launched its AI-powered cloud cost optimization platform on Polygon and Horizon integrated Sequence’s wallet and developer stack on Polygon.
• Sandeep Nailwal, the CEO of Polygon, also launched a web3 fellowship program to support the development of blockchain applications.
Polygon Price Prediction: Will Matic Recover Above $1?
Polygon’s native token MATIC is currently trading at $0.8748 per coin, which is less than 1% of its value over the past 24 hours. Despite announcing several key partnerships this week, MATIC has only seen a 3% increase in its price over the past seven days.
Partnerships Announced by Polygon
Earlier this week, AntiMetal launched its AI-powered cloud cost optimization platform on the Polygon blockchain. The partnership was followed by Horizon integrating Sequence’s wallet and developer stack on Polygon providing enterprises and app developers with the ability to customize and extend blockspace. Additionally, Sandeep Nailwal, the CEO of Polygon, also launched a web3 fellowship program to support the development of blockchain applications.
Will MATIC Move Past The $1 Mark Soon?
The current underperformance of MATIC could be attributed to the fundamentals of the broader cryptocurrency market . For MATIC to move past above $1 mark soon , Bitcoin needs to remain stable above $26400 support level for some time . If that happens , then it is likely that MATIC will recover above $1 soon .
Technical Indicators On 4-Hour Chart
The technical indicators on 4-hour chart show that MATIC is outperforming compared to other cryptocurrencies in terms of growth rate . The MACD line remains above neutral zone indicating that bulls still dominate over bears in terms of market control . Furthermore , 14-day relative strength index stands at 66 which indicates that it is neither overbought nor oversold .
In conclusion , if fundamentals surrounding broader cryptocurrency market improve then there’s potential for MATIC to rally past $1 mark soon . However , due to current bearish trends in crypto markets , nothing can be said with certainty about future price movements of MATIC yet .