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 optimistic one for the broader cryptocurrency market. The market has added almost 6% to its worth within the final 24 hours, and the full market cap now stands above $915 billion.
Bitcoin lastly crossed the $20k psychological degree after including greater than 6% to its worth. Ether is closing in on the $1,200 resistance degree and is up by greater than 10% within the final 24 hours.
MATIC, the native token of the Polygon ecosystem, is the most effective performer amongst the highest 20 cryptocurrencies by market cap. MATIC has added greater than 15% to its worth within the final 24 hours and presently 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 response to Bjelic, mass adoption of Web3 will occur on cellular, and Polygon is making ready to play a vital 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 a substitute, we’ll combine with current producers.
At this time, 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 telephone 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 optimistic zone a couple of hours in the past, indicating bullish momentum. The 14-day RSI of 64 reveals that MATIC might quickly enter the overbought area if the rally continues.
MATIC might surge previous the primary main resistance degree at $0.629 earlier than the tip of the day. Within the occasion of prolonged bullish efficiency, MATIC might goal the $0.70 degree for the primary time this month.