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Some Believe MATIC Could Test $1 In the Coming Days or Weeks

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© Reuters. Some Believe MATIC Could Test $1 In the Coming Days or Weeks

  • Polygon (MATIC) price reversed course to the upside.
  • Similar circumstances before led MATIC to reach a record high of $3.
  • Michael van de Poppe would not be surprised if MATIC is going to test $1 in the coming days or weeks.

2022 has been a bad year for cryptos, but Polygon’s (MATIC) price reversed course to the upside after testing $0.794 as its interim support on Tuesday, May 10. Thus, the price of MATIC rose by 25% to put the price at $0.99. This comes the day after the price dropped by 17% to reach its lowest level since July 2021.

A previous retest of the $0.787-level in July 2021 and the 0.786 Fib line (near $0,61) of the Fibonacci retracement graph drawn from the $0.002-swing low to 2.86-swing high- lead to MATIC raising to its record high of $3 by the end of 2021.

This could lead people to believe that something similar, a sharp upside retracement, might happen to the price of MATIC in the upcoming days or weeks if history were to repeat itself.

Michael van de Poppe, a full-time day/swing trader in cryptocurrencies, agrees with this and yesterday Tweeted that he “would not be surprised if MATIC is going to test $1 in the coming days/weeks if BTC reclaims $30K.

There might be light at the end of the tunnel for MATIC as Polygon CEO, Ryan Watt, recently announced that they are partnering with Meta to create a nonfungible token (NFT) platform for Facebook (NASDAQ:FB) and Instagram. The hype around this project could surely help MATIC form a stronger price floor.

On the other hand, MATIC risks a bearish continuation if it does not reclaim its 50-week exponential moving average near $1.37 as support.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Technical Analysis Suggests That DOGE Price Will Fall In Next 24H

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© Reuters. Technical Analysis Suggests That DOGE Price Will Fall In Next 24H

  • The number 10 place on CoinMarketCap’s list of the biggest cryptos by market cap, Dogecoin (DOGE), has seen a slight price gain in the last 24 hours.
  • DOGE has strengthened against Bitcoin (BTC) and Ethereum (ETH) as well.
  • TA suggests that a bearish move will take place in the next 18-24 hours.

The number 10 place on CoinMarketCap’s list of the biggest cryptos by market cap, Dogecoin (DOGE), has seen a slight price gain in the last 24 hours according to the crypto market tracker.

At the time of writing (9:30 AM GMT + 2), the price of DOGE is around $0.08446, which is a 0.15% price increase compared to what it was 24 hours ago. The weekly performance of Dogecoin has seen it at a loss, however, as its price dropped 4.98% over the last 7 days.

DOGE has strengthened against Bitcoin (BTC) and Ethereum (ETH). Currently, 1 DOGE is worth 0.0.000002876 BTC and 0.0000428 ETH. This means that DOGE has strengthe …

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The truth behind the misconceptions holding liquid staking back

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The truth behind the misconceptions holding liquid staking back

Blockchains have relied on proof-of-work (PoW) validation since their inception. Yet the PoW consensus proved to be unsustainable with its high energy usage and its need for fast, powerful hardware creating high barriers to entry. That’s why blockchains are adopting proof-of-stake consensus algorithms (PoS), where those wanting to earn rewards don’t have to compete against other miners, but can simply stake part of their crypto for a chance to be chosen to be a validator — and reap the returns.

Everyone who owns crypto on PoS blockchains must want to take advantage of the opportunities staking provides, right? Actually, according to our report, while 56% of those surveyed had staked before, many who hadn’t staked or wouldn’t stake again pointed toward the same hesitation: They don’t want their assets locked up in staking, not when those assets could be put to use elsewhere. This is why liquid staking provides the best of both worlds. It allows investors to stake their assets while also allowing them to use those assets in other projects during lock-up.

Mohak Agarwal is the CEO of ClayStack. He is a serial entrepreneur and investor on a mission to unlock the liquidity of staked assets.

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Florida Rep. Donalds introduces Financial Freedom Act companion bill in the House

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Florida Rep. Donalds introduces Financial Freedom Act companion bill in the House

Rep. Byron Donalds, a Florida Republican, introduced the Financial Freedom Act into the United States House of Representatives on Friday to prevent the U.S. Department of Labor from limiting the types of investments that can be included in Americans’ self-directed 401(k) retirement plans. The bill is the companion to Alabama Sen. Tommy Tuberville’s May 5 Senate bill.

The Financial Freedom Act was introduced as a reaction to a U.S. Department of Labor (DOL) compliance report dated March 10 that raised objections to the inclusion of cryptocurrencies in 401(k) retirement plans. That report warned the department’s Employee Benefits Security Administration “expects to conduct an investigative program aimed at plans that offer participant investments in cryptocurrencies and related products, and to take appropriate action to protect the interests of plan participants and beneficiaries with respect to these investments.”

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