The past week has witnessed some noteworthy recoveries in the cryptocurrency market with both Polygon and Near Protocol being on the bullish side on account of their improvements in scalability and cost structures. Also, Shiba Inu maintains its upward course since whales are still heavily accumulating it, which suggests that the hope for the coin remains strong.
Polygon to Remain Bullish
Current price:$0.3982
Market cap:1.1B
Over the week, Polygon has appreciated 7.9% in value, changing from $0.3937 to $0.4089. This recent uptick in its price is witness to the continuing relevance of Polygon, which brings forth improved scalability for Ethereum via reduced transaction cost and speed.
Currently trading above its 10-day moving average, MATIC shows short-term strength, though long-term resistance still hovers around $0.5552.
Polygon’s market momentum could carry it further if it breaks through this resistance level. With its Relative Strength Index (RSI) balanced at 50.5799, MATIC is showing stability, making it a coin to watch in the coming week.
