Bitfinex is a cryptocurrency trading platform that offers leveraged trading of Bitcoin, Ethereum, and Litecoin. This week the company announced its integration with Polygon (MATIC), which will allow users to trade on the exchange using MATIC tokens.
With Bitfinex Integration, Can the Bulls Drive the Price for Polygon?
News about altcoins
- MATIC has been recommended by Twitter’s Altcoin Sherpa.
- MATIC coin will be accessible on Bitfinex shortly, according to Polygon.
MATIC has been trying to recover its early positive momentum after the market sell-off on September 7. Despite lower highs indicating a positive trend, traders were unable to keep prices stable.
If another higher high develops, the current climb from $1.20 may be favorable. If the market closes below the 23.6 percent Fibonacci level, bulls will lose. Polygon’s price is $1.19 USD, with a 24-hour trading volume of $1,143,929,659 USD, according to CoinMarketCap.
An upswing would have been confirmed if the price had closed over $1.50, but that wasn’t the case yet. The conclusion of MATIC’s next upcycle was signaled by a pair of red candlesticks on the charts.
While MATIC’s trajectory is puzzling, there are indications that things are looking up. The RSI rose above the half-line and temporarily into the overbought zone on September 15, suggesting a positive recovery. As the RSI found support around the mid-line, the bulls maintained control.
It’s possible that a positive trend may emerge.
MATIC has been recommended by Twitter’s Altcoin Sherpa. Despite the token’s present consolidation, many anticipate substantial gains in the next run. According to the tweet, MATIC is expected to reach $1.75 on the following leg up.
Following a double top formation, MATIC attempted to construct an uptrend, but market observers were skeptical. In each instance, the bulls held an edge, and a victory is not out of the question. If MATIC recovers from the 38.2 percent Fibonacci level and hits $1.50, a bullish trend may be expected.
MATIC coin will be accessible on Bitfinex shortly, according to Polygon. It’s one of the most well-known and well-established liquid exchanges.
Users will be able to access MATIC on all major exchanges, including Coinbase and Binance, thanks to Bitfinex’s connection. It may also serve as a stimulus for MATIC to regain lost momentum.
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