Polygon (MATIC) is outperforming the top 20, up 6% in the last 24 hours and 13% in the last 7 days. At the time of publication, MATIC was exchanging hands at $0.60. Today, The Walt Disney Company announced the six companies that will be joining the 2022 Disney Accelerator, a business development program designed to accelerate the growth of innovative companies from around the world. This year’s Disney Accelerator class is focused on building the future of immersive experiences and specializes in technologies such as augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) characters. Polygon made its entry among six companies selected for the 2022 Disney Accelerator program.
Key Levels
Resistance Levels: $0.850, $0.750, $0.650
Support Levels: $0.565, $0.475, $0.317
MATIC/USD Daily ChartThe daily moving average (MA 50), which is currently at $0.520, serves as a rebound spot as MATIC stabilizes above it. Earlier in the week, MATIC prices had attempted to break through the floor, reaching MA 50 and a low of $0520 today. However, it was able to stay above the consolidation zone. The RSI indicator seems to settle in a region above its midline of 50.
The recent rebound above the MA 50 ($0.520) may therefore cause the price to move in the direction of $0.750. Before the $1.75 March highs, the MA 200 resistance level at $1.300 may cause the MATIC/USD to stall. The $0.475 provides immediate support below the MA 50 on the downside, and any violation of this level may lead to a fall.
MATIC/USD 4-Hour ChartThe MATIC/USD pair has formed an ascending trendline pattern on the 4-hour chart, and the price is currently stabilizing above the $0.565 horizontal level. The cryptocurrency is aiming to resume its bullish continuation pattern, which might begin with consolidation and concludes with a breakthrough, according to MATIC recovery.
The price should rise over $0.60 if it closes and sustains a rise above the 4-hour moving average (MA 50 & MA 200), providing insight into the March 2022 highs of $1.746. As an alternative, there is a belt of support underneath the MA 50. The next important support is horizontal support from recent lows near $0.475. Although it is trading above MAs, its outlook ranges from neutral to positive.
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