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This coin is heading towards its best performance ever against Bitcoin

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A native Cryptocurrency From ribbedMATIC is starting to catch the attention of cryptocurrency investors with its latest rally against Bitcoin. Lately, the price of MATIC has been on the upside with Polygon’s recent collaborations and partnerships with tech giants. Given this trend, at some point, the crypto hit the $1 mark.

Read ahead as we analyze MATIC price activity vs bitcoinstudy recent price movements, and look at price predictions.

Polygon (matic) price analysis

Polygon (formerly Matic Network) is a well-designed and easy-to-use platform for scaling Ethereum. It is powered by the Ethereum token, which is known as MATIC. The platform ensures faster and cheaper transactions Ethereum Network using blockchains, such as Layer 2 sidechains.

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These Ethereum tokens can be placed into a Polygon smart contract, used throughout Polygon, and then issued back onto the Ethereum mainchain. At the time of writing, Polygon (MATIC) price is at $0.91 and has seen a jump of around 0.77% in the past 24 hours.

The all-time high price for this token is $2.92. The current circulating supply of this cryptocurrency is estimated at 8 billion, with a maximum supply of 10 billion MATIC tokens. With a current market capitalization of over $7 billion, Polygon (MATIC) is ranked 10thThe tenth Among all the cryptocurrencies in the market.

ribbed It showed great momentum on the price charts in the last quarter of this year. In the first week of November 2022, the token increased to $1.26. Although it declined towards $0.78 during the last half of November 2022, it seems to have picked up momentum again after that.

The big increase in its price came after announcing its partnership with Meta in August. The token was also in the news when it was announced that Polygon has partnered with brokerage firm Robinhood for its latest Web3 wallet. Moreover, the fact that Robinhood allowed users to send and receive MATIC tokens on Polygon also provided momentum for the price of this token.

After the good news that social media giant Meta is partnering with the blockchain network to present its venture in the field of Web 3 And the NFTsPolygon recently saw a big spike in November.

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Polygon (MATIC) Strong Performance Against Bitcoin (BTC)

Recently, after retesting a crucial diagonal resistance as support, Polygon was noted to be looking strong relative to Bitcoin (MATIC/BTC). At the time of writing, the MATIC to BTC conversion rate is 0.0000529 BTC. This rate has seen an increase of 0.70% over the past 24 hours. MATIC/BTC was 0.00006391 BTC during the first week of November 2022, when Polygon crossed the $1.26 mark.

After that, it dropped to 0.000049 BTC during mid-November. However, it gained some momentum later on and has managed to stay around 0.000053 BTC since then. Given the current price trends of Polygon and Bitcoin, experts are of the opinion that the MATIC/BTC rate may rise to 0.00007 BTC in the coming times.

Should you invest in Polygon (Matic)?

Polygon has had a great run this year. The token fell to $0.32 in mid-June 2022; However, since then, the token has managed to do great on its price charts. It reached the $1 level at the end of July and managed to stay near the $0.80 figure through August.

The token appears to be a good long-term investment option for crypto investors with its recent associations with Meta regarding Web3, NFTs and exclusive brokerage Robinhood. Web 3 Wallet and using MATIC tokens on the Robinhood platform. According to a Citigroup report, Polygon has the potential to become a $13 trillion reverse economy by the end of this decade.

Even the price predictions for MATIC show that it is a viable investment vehicle for investors. The token is expected to reach $2.78 by the end of next year. In the same vein, some analysts predicted Polygon’s cryptocurrency price before that MATIC would rise to $8.19 within five years. The token is also expected to surpass $11.85 by the end of this decade.

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conclusion

As far as the price of MATIC/BTC is concerned, it will be highly dependent on the upcoming price trends of Polygon and Bitcoin. Polygon’s recent price hike and its connections to some leading organizations may have put it on many investors’ wish list; However, it is important to analyze recent price movements, history, market condition and a lot of things before making any investment call.

Given that the cryptocurrency markets are volatile and subject to risks, it is necessary to conduct thorough background research before investing your money.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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