Hello guys. hope you are good today im going to explain a few about the reasons MATIC skyrocketing these days. i look this happenings in 2 sides: first Fundamental News and second Technically. lets go...
"On Monday, deltaDAO, a data economy solutions company, launched its Gaia-X Web3 Ecosystem network upgrade based on Polygon Supernet. The Polygon team said the collaboration brings the blockchain at the heart of European data economy. The partnership enables a global trustless data economy where users are in full control of their data, it added Antoni Martin, co-founder of Polygon, said the partnership will help provide an open and federated data economy for the European digital ecosystem. Earlier, Wall Street bank JP Morgan said it successfully executed a trade using the Polygon blockchain network. This came as a big boost to the Polygon community as it led to MATIC price rise. Similarly, another major collaboration news came in the form of Instagram with Meta saying it will be using Polygon for its first NFT marketplace. "
Sooo excellent reasons exist for this rally.
now lets see it technically... the price action breackout a long side move from JULY and surpass the 200MA. and break the important 1$ resistance. asnd when we add 55EMA to the chart we see a nice GOLDEN CROSS. what a nice situation... lets imagine its just a step of correction so we have C wave in play with at least 78.6% fibonacci level target 1.76$. and maybe 100% level on 2.6$!
BUT... be careful if bitcoin come back below 20000 , maybe we see a pullback to 200MA and price 1$ or 0.97$ and after that again it starts.
and in the end all of this analyze is my personal opinion and you shuold DYOR (Do Your Own Research). so i use I THINK already :) dont forget to manage your capital and risks. and dont forget we play in a VERY RISKY market so ALL THINGS POSSIBLE...