Polygon (MATIC) price has been up in the past few weeks. The close proximity of the Ethereum (ETH) Merge of Polygon’s own network coin seems to have triggered this rise.
MATIC is positioned 190 percent higher than its lowest price seen last July. Its price is hovering around $ 0.92 as of the time of writing.
Why is Polygon (MATIC) Rising?
Polygon is described as a revolutionary technology built on the Ethereum network. It is known that it can process a maximum of 6,500 transactions per second and the transaction fees are very low. In addition, SushiSwap, Uniswap, Curve and Aave, which are popular DeFi projects on the Polygon network, are also actively used.
In addition to all of this, Polygon also took part in Disney’s support program, gaining consultancy on artificial intelligence, augmented reality and NFT. At the same time, Polygon, which has partnered with Reddit for the Avatar NFT Marketplace, has strengthened with all these partnership and collaboration news.
MATIC Rises in 4-Hours
Following the announcement of Ethereum’s Merge date, the 4-hour chart of MATIC, which has been on the rise for several weeks, confirms the rise. Currently, MATIC price appears to be above the moving average. The RSI, on the other hand, is hovering just above the Neutral zone. Strong resistance in front of MATIC at $1.5 and below $0.85 will eliminate any bullish idea.
After the last rally of Polygon (MATIC), Shiba Inu (SHIB) has become the 13th most popular cryptocurrency with around $8 billion in volume, surpassing Avalanche (AVAX).
The current price of MATIC is as follows:
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