Polygon (MATIC) is a simple blockchain platform built on top of Ethereum. It primarily addresses Ethereum's scalability issues, transforming it into a full-fledged multi-chain system. This significantly reduces network burden, increases transaction speed, and lowers transaction costs.
Key Advantages:
- High Scalability: Polygon can process up to 65,000 transactions per second, compared to Ethereum's 17.
- Low Transaction Fees: Polygon offers significantly lower transaction fees than Ethereum.
- Growing Ecosystem: Polygon has a rapidly growing ecosystem of dApps, DeFi protocols, and other projects.
Long-term Analysis:
- Monthly Chart: Polygon is currently trading within a range (accumulation zone). A breakout from this zone could lead to significant gains, potentially reaching $10.
- Weekly Chart: Polygon is currently in a bearish trend and could retrace to $0.71. If it finds support at this level, it could potentially rally back to $1 and beyond.
Short-term Analysis:
- Daily Chart: A bullish scalping opportunity may arise if the large candle between $0.84 and $0.82 forms a wick and breaks upwards. The price could target $0.96, followed by a retracement to $0.72.
- 4-hour Chart: No strong green candle has formed above $0.8945 yet. If the current green trend closes above $0.9, we can expect a high of $0.90, followed by a correction to around $0.84. If a green candle confirms the MSB at this level, we can expect a direct move to $0.96. If you enter at this point, set your stop-loss at $0.71.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Any investment decisions based on this analysis are at your own risk.