The crypto market is back on track as most crypto prices rose by an average of more than 50% since the beginning of the year. Bitcoin rose from its support of 20K and breached the 30K price higher. Ethereum also jumped from 1K and breached its resistance price of 2K. Today, MATIC prices are showing a potential to rise higher and maybe double, making 100% in returns in the coming few months. Is MATIC a good buy today? Should you buy MATIC and add it to your portfolio? Let’s analyze 😉
What is MATIC Coin?
Matic Coin (MATIC) is a cryptocurrency that is part of the Polygon (previously Matic Network) ecosystem. Polygon is a layer-2 scaling solution for Ethereum that aims to improve scalability and lower transaction fees on the Ethereum network. Matic Coin is used as the primary token for transactions within the Polygon network and can be used to pay for gas fees, to stake in the network, and for other functions such as governance and participation in the network’s decision-making processes. The value of MATIC has increased significantly since its launch, making it one of the most popular cryptocurrencies in the market.
Where to Buy MATIC Coin?
There are currently many good exchanges that offer to trade and hold MATIC. Here’s a list of known exchanges that are currently in good standing:
MATIC Price Analysis as of April 16th, 2023
Since mid-March 2023, MATIC has been consolidating around the price of $1.1. This often means that prices are preparing to reach higher highs as soon as they break their resistance. For MATIC, this resistance price is around $1.2.
In fact, MATIC reached earlier this year a high price of $1.5, which means that reaching this price again sometime this year is not hard.
MATIC Price Prediction: is MATIC a good Buy Today?
MATIC prices are about to reach a significant resistance price. In the past, MATIC retraced lower when they reached this $1.2 price mark. We advise to wait that prices breach this resistance higher and place a stop-loss right below that resistance. If you buy MATIC at the current prices, you risk to lose if prices adjust lower towards the price of $1.13.
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