MATIC races to a new all-time high

MATIC, the native token of the Polygon blockchain, has been one of the top performers on the market in the last 24 hours.

Matic ist has reached a new all-time high, having risen by more than 10% in the last 24 hours. The price of the coin recorded a new all-time high of over 2.6 USD a few hours ago. This is happening even though the broader crypto market is experiencing mixed performance.

The rally took place after Uniswap, one of the largest decentralized exchanges in the world, launched its services on the Polygon blockchain. The Uniswap community voted a few days ago to launch their services on the Polygon blockchain, and the process was completed yesterday.

As a result, UNI tokens are now available on the Polygon blockchain. Mihailo Bjelic, co-founder of Polygon, is excited about this latest development. In a recent interview, he explained the following:

“Ethereum has introduced a noble vision of an open, borderless economic system that is accessible to everyone. With this deployment, Uniswap, as the flagship of the Ethereum application, returns to the original vision and again offers low fees and open access for everyone.“

Important levels at a glance

The MATIC/USD 4-hour chart is currently very bullish thanks to the recent rally of the cryptocurrency. The technical indicators show that the coin is currently doing well and could rise again soon.

The MACD line is above the neutral zone, which indicates that the coin is in an uptrend. In addition, the 14-day RSI of 50 shows that it is moving towards the oversold area. At the time of writing, MATIC is trading above its 50-day moving average of $2.3.

If the bulls continue to maintain control, MATIC could continue to rise upwards in the coming hours, breaking the first resistance point at $2,75. In the event of a longer rally, MATIC could reach a new all-time high of over $2.85 before the end of the day.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

You might also like...