Polygon has signed a strategic partnership that may see it assist with blockchain improvement in Africa.
MATIC, the native coin of the Polygon ecosystem, is down by roughly 2% within the final 24 hours. At press time, the value of Polygon stands at $0.7919, down by greater than 15% over the previous seven days.
MATIC’s poor efficiency comes regardless of Polygon saying a strategic partnership with CV Labs.
👉 https://t.co/oHuXG9D8Cl pic.twitter.com/YYAgdil4iV
— Polygon – MATIC 💜 (@0xPolygon) November 21, 2022
The partnership is about to assist develop Polygon’s attain and contribute to a extra digitally strong and inclusive future for Africa. Polygon could be tasked with serving to African startups acquire entry to sources and funding. Thus, enabling the startups to scale their companies and create jobs.
The broader crypto market can be underperforming for the time being. The overall crypto market cap stands round $780 billion, down by 2% thus far at this time. Bitcoin, the world’s main cryptocurrency, can be down by almost 2% during the last 24 hours. The Bitcoin value has declined beneath the $16k stage for the primary time this yr and is now buying and selling at $15,734 per coin.
Key ranges to look at
The MATIC/USD 4-hour chart is bearish, as Polygon has been underperforming over the previous few days. The technical indicators present that MATIC is performing higher than the broader market.
The 14-day RSI of 36 reveals that MATIC may enter the oversold area quickly if the bears proceed to regulate the market. The MACD line dropped into the damaging zone per week in the past and has remained there.
If the bearish pattern continues, MATIC may dip beneath the primary main assist stage at 0.7427 earlier than the tip of the day. Within the occasion of an prolonged poor efficiency from the broader market, MATIC may drop beneath the $0.700 assist stage for the primary time in months.
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