MATIC is now up by up to 6%, with the cryptocurrency landscape feeling optimistic throughout the week.
- MATIC is looking up with an increase of 6%
- Polygon performance improves following announcement of Robinhood’s support for Polygon transactions
- After the Robinhood partnership announcement, around 18 million MATIC transactions were made
Polygon (MATIC), the most popular crypto, is seen as the leader when it comes to market capitalization.
MATIC managed to boost its value by 6% within 24 hours. This means that it is outperforming its crypto peers.
Although the entire cryptocurrency market appears to be on the cusp of recovering from the recent crash, it could end the week in a positive mood. MATIC’s total market cap is now at a whopping $990 billion which beams with a 1% increase today.
MATIC’s Robinhood Deal Leads to Improved Performance
Bitcoin is also hovering above $20k and has seen a 1% rise overnight. After a 3% increase in its value today, Ether is now aiming for $1600 as the main resistance zone.
MATIC showed an improvement in performance after its announcement. It partnered with Robinhood for Polygon withdrawals, and deposits on the PoS chains.
Surprisingly, almost 18 million MATIC transactions occurred after the announcement.
This partnership is said to help consolidate all the advantages of Ethereum’s L2 solutions to pioneering users of Robinhood which include low gas fees and speedy transactions.
More so, this collaboration with Robinhood is seen to boost Polygon’s network growth, increase liquidity, and also make MATIC readily accessible to Robinhood app users worldwide.
Polygon shows Impressive Signs
According to the 4-hour chart the MATIC/USD pairing is optimistic. It has performed well over the past 24 hour. Even more, technical indicators suggest that the coin has shown remarkable improvements and recuperation considering its early week decline.
Additionally, MACD is indicating a bull move with it above the neutral line. MATIC’s RSI is at 65, suggesting that MATIC might be moving into an overbought zone. However, its outlook remains positive.
MATIC may move beyond its $0.9489 resistance level if the bulls keep dominating the market. Despite its bullish movements, MATIC may have difficulty moving past August’s ATH of $1.057.
Source: TradingView.com| Source: TradingView.com Featured image taken from The Economic Times Chart at TradingView.com