The cryptocurrency market has continued its wonderful begin to the brand new week, with most cash up by greater than 4% within the final 24 hours.
The brand new week is shaping out to be a constructive one for the broader cryptocurrency market. The market has added almost 6% to its worth within the final 24 hours, and the whole market cap now stands above $915 billion.
Bitcoin lastly crossed the $20k psychological stage after including greater than 6% to its worth. Ether is closing in on the $1,200 resistance stage and is up by greater than 10% within the final 24 hours.
MATIC, the native token of the Polygon ecosystem, is the perfect performer amongst the highest 20 cryptocurrencies by market cap. MATIC has added greater than 15% to its worth within the final 24 hours and at present trades above $0.530 per coin.
The rally will be attributed to the talks on Web3 adoption by Polygon co-founder Mihailo Bjelic on Monday. In accordance with Bjelic, mass adoption of Web3 will occur on cellular, and Polygon is making ready to play an important position on this growth.
Mass adoption of Web3 will occur on cellular and @0xPolygon is making ready for it.
Our technique is to not make our personal gadgets. As an alternative, we’ll combine with present producers.
At the moment, we’re proud to announce the primary main integration.
— Mihailo Bjelic (@MihailoBjelic) July 4, 2022
The tweet was accompanied by a hyperlink to the announcement that HTC had launched a metaverse cellphone with Polygon and Ethereum help.
Key ranges to look at
The MATIC/USD 4-hour chart is bullish as MATIC has been performing nicely over the previous 48 hours.
The MACD line crossed into the constructive zone a number of hours in the past, indicating bullish momentum. The 14-day RSI of 64 reveals that MATIC may quickly enter the overbought area if the rally continues.
MATIC may surge previous the primary main resistance stage at $0.629 earlier than the tip of the day. Within the occasion of prolonged bullish efficiency, MATIC may goal the $0.70 stage for the primary time this month.