MATIC Price Edges Towards New Highs! Metaverse Upturn Could be A Catalyst!

The latest dawn in the metaverse space has ensured a resurgence in the crypto space. Like gold dust, the Matic ecosystem has endorsed incredible gains in the happening bull cycle. Notably, digital coins out of the Polygon ecosystem such as Aavegotchi, Sloktopia, Decentral Games, and GameCredits have experienced significant gains since the start of the quarter. 

The Sandbox was one of the top trending tokens in the latest Metaverse boom, which has surged by over 143.89% over the past 7 days. On an interesting note, the platform is now planning to migrate from Ethereum blockchain to Polygon space. Evolutions happening across both could act as catalysts to each other in the coming days.

Polygon’s Integration With Enegra Pump the Price Action!

The polygon ecosystem has undergone immense gains since the start of the quarter. In order to keep up the momentum, the platform has recently collaborated with Enegra group, a tech firm based out in Malaysia with a valuation of around $28 billion. The reputed tech firm has drifted its valuation of shares tied EGX security tokens from the Ethereum to the Polygon blockchain. 

With the latest migrations, traders can able to exploit maximum benefits faster, secure and instant transfer of security tokens with competitive transaction fees on the platform. Token, an asset tokenization provider has assisted Enegra group to migrate towards Polygon. The collaboration intends to provide peer-to-peer transfers to captivate global top 20 market cap status towards the Matic ecosystem.  

Polygon (Matic) Price Analysis: 

The Matic price has experienced a rejection close to $2.02 resistance level. However, a 1-hour chart from the Trading view highlights the formation of Descending triangle, a breakdown could result in a massive downfall. The major bottom support lies around $1.748 if it fails to hold the support at $1.813. The RSI factor on the other hand has been taking a bearish divergence signaling the incoming buy orders. Hence, a breakout from the immediate resistance at $2.05 would uplift the price to $2.13 in the short term. 

Collectively, the ecosystem has been putting a lot of effort to drift the projects based on Ethereum to Polygon. As Metaverse space is booming, the platform is attempting hard to go in pace. Moreover, the tokenization of financial securities could bring a new revolution in DeFi space and the platform appears to be already a step ahead with respect to the same. 

Source: https://coinpedia.org/altcoin/matic-price-edges-towards-new-highs/