Polygon (MATIC) Rallies by 27% Ahead of Series of Events in India
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Polygon's rally started with the company's partnership with Meta Platform, which will utilize Polygon in minting, displaying and selling. Later on, JPMorgan fueled the growth by making the first decentralized finance transaction with MATIC. Thanks to a series of major events in India, MATIC might continue its growth on the market.
Technical overview
In the last five days, MATIC gained almost 30% to its value despite the depressing state of the cryptocurrency market. The asset broke almost every local resistance level, rallying to levels we have not seen for almost 200 days.
According to volume profiles, there is still power on the market that will be able to drag MATIC further into the clouds despite the Relative Strength Index flashing overbought values. The short-term correction or consolidation might be the case for the foreseeable future, unless whales will be able to push MATIC even higher.
Capitalizing on growth
According to Polygon's official Twitter, the company is getting ready for a tour across India to meet the next generation of innovators. Polygon plans on meeting entrepreneurs, creators and developers in every corner of the country with seven Guild events. The company will also reach 50 college campuses across the country.
Tomiwabold OlajideAmid the strong performance on the market, Polygon's actions in a foreign country will most likely become a positive signal for institutional investors that are currently in the process of redistributing funds on the digital assets market.
Partnership with the biggest corporations in the world, lack of regulatory issues and successful execution of the marketing strategy will most likely ensure a solid price performance on the market for MATIC.
Alex Dovbnya