Polygon (MATIC) is currently up 2.89% in the last 24 hours at $1.24. A break above the key level of $1.30 may relaunch the uptrend. With NFTs on the Polygon Network, Doritos Triangle Studios is prepared to explode into the metaverse. The well-known food company Doritos invites everyone to take part in their groundbreaking metaverse experience in Decentraland. The newest brand to use polygon-based NFTs to enter the metaverse is Doritos Chips. In a formal statement released by Doritos’ representatives, Doritos Triangle Studios, the company’s first metaverse location, opens. The promotion launches on February 8 with airdrops, lotteries, and mini-games with brand themes. In this campaign, all NFTs are minted on Polygon (MATIC). The first-ever Nike digital footwear studio. SWOOSH. includes Polygon as a partner. Sneaker fans can work with Nike’s designers in this studio to create new footwear collections.
Key Levels
Resistance Levels: $1.70, $1.50, $1.30
Support Levels: $1.15, $1.00, $0.90
MATIC/USD Daily ChartThe MATIC/USD rise maintains its unchallenged upward trajectory, maintaining its sweep of new yearly highs around the $1.284 area, but reversing some gains afterward. The $1.20 barrier was broken by the crypto pair early in the prior week. In the immediate future, whales might continue pushing the pair higher. In a broader sense, the clear breach of the resistance level of $1.30 will imply that the level of $1.20 marks the completion of the entire downward trend beneath $1.00.
The recent rebound may easily aim for the next level of $1.300 as the retracement from $1.284 to $1.74 recedes. An ongoing change is laying the groundwork for a run toward the $1.50 (high) level shortly. As long as the ascending trendline pattern is intact and the price average persists at the $1.235 level, this may continue to be the dominant scenario for the time being.
MATIC/USD 4-Hour ChartThe Polyon (MATIC) rise is picking up steam and has so far reached a high of $1.284 in 2023 at the time of this analysis. A more major bullish sentiment turnaround might be pronounced by the significant break of the $1.30 resistance level. The current upside is glued towards the intraday high at the $1.249 level for the next move.
On the other hand, a breach of the 4-hour moving average (MA 50) followed by the support level at $1.50 is necessary to indicate recent tops. However, if there is a further retreat, the trend can continue to be bearish. The resilience of the $1.30 level, however, may change the bias to the negative, portending a further drop to the $1.00 support level.
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