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December 7, 2023
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MATIC Price to Hit $1 By November 14th: Here’s Why

The post MATIC Price to Hit $1 By November 14th: Here’s Why appeared first on Coinpedia Fintech News

Polygon’s MATIC has taken center stage as co-founder Sandeep Nailwal hinted at significant announcements slated for November 9 and November 14. The crypto community is excited, speculating that these revelations could propel MATIC’s price to the coveted $1 mark.

MATIC Soars Amid Community Anticipation

On November 7, Nailwal took to Twitter, urging the Polygon community to stay tuned for November 9 and November 14 announcements. The tweet has ignited wild speculations, keeping community members eagerly awaiting potential game-changing news.

Yesterday, the Near Foundation, the nonprofit behind the Near Protocol, unveiled a collaboration with Polygon Labs, a firm specializing in Ethereum scaling solutions. This partnership aims to enhance interoperability across blockchain networks, positioning Near Protocol as an Ethereum Layer 2 solution using Polygon’s ZK technology.

Notably, the Near Foundation collaboration wasn’t the announcement hinted at in Nailwal’s tweet, leaving the crypto space in suspense about what additional surprises may be in store for MATIC.

MATIC to $1 by Nov 14

Adding to the positive sentiment, MATIC achieved a significant milestone by reclaiming the 200-day Moving Average (200MA) for the first time since April. Market analysts view this technical achievement as a favorable indicator.

The community’s excitement is reflected in the price charts, with MATIC leading other major altcoins in price gains. Currently trading at $0.8175, the coin has witnessed a 9.85% gain in the past 24 hours.

If buying pressure persists, there’s potential for a 15% rise in the MATIC price, targeting the next key resistance zone at $1.04. The Fibonacci Retracement tool indicates that the 23.6% level aligns with this resistance, forming a significant barrier.

As today’s announcement looms, the crypto community is on high alert, anticipating potential surges in MATIC’s value.

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