"MATIC is getting more violent, it doesn't want to be defeated by other cryptos."
MATIC, Solution Polygon's layer-2 cryptocurrency showed very strong resilience as its price which saw an aggressive climb for almost a month finally managed to reclaim $1 after breaking through its resistance zone of $0.94.
There is no denying that the breakout could prompt investors to buy more MATIC, but the waning bullish momentum in Bitcoin (BTC) could be a hindrance.
MATIC has entered an active recovery trend line at the end of January 2024 as the price bounced back from $0.72 to over $1 this morning, where it sees a gradual upward move.
Within a month, the price of MATIC climbed almost 40% to reach a recovery trading price of about $1.01 and in the middle of the surge, investors were seen flocking to buy MATIC until it continued to rise up to $0.94.
Please note that the price of MATIC should maintain its position above $0.94 to target $1.30 which is a 30% increase, but if it fails then the digital asset can slip back to $0.88.
It is well known that Polygon Labs and VC Animoca Brands focused on gaming has put its advantage behind a rival project called the Humanity Project which is touted as less invasive and safer.
As of this writing, MATIC price trading at $0.98 has recorded a slight 0.56% gain in the last 24 hours with a market cap of $9 billion but still gained 14.32% over the last week.
