By Nathan Ferguson
- MATIC had its price rallying 21% as the alt overpowered an ascending triangle formation.
- Meanwhile, bulls need to overcome a few obstacles for the 150% surge to $4.32.
- Polygon sees increased adoption as the founder highlights scaling solutions benefits.
MATIC hovers beyond a critical resistance barrier that it overpowered with its recent impressive actions. The latest buying momentum rise has catalyzed a sturdy bullish run for the alternative coin. That way, market players can expect an extended rally by the Layer2 token.
Layer 2s and Polygon Relevance
Polygon declared receiving its initial Insurer, Tidal Finance. With its significant DeFi network exploits, Tidal Finance will ensure security on the network, the reason it collaborated with Polygon. The project targets to offer solutions to decentralized finance insurers’ demand and supply issues. It will achieve that by allowing capital leverages and more coin incentives to magnify capital returns. That is according to the partnership announcement.
The partnership targets to upgrade security measures for Polygon’s projects via Tidal Insurance. Projects should meet some criteria as far as auditing, TVL, and various security measures are concerned. Projects that qualify will receive rewards with premium discounts and MATIC incentives.
ETH explores its ATH at the moment as its ecosystem busts with NFTs, meme coins, and Dapps. However, the scaling solutions and London upgrade are the reasons market players complain about gas fees. Polygon (MATIC) positions itself to help users that cannot afford the Ethereum blockchain.
With that, Polygon aims to introduce top scaling solutions and solve anything Ethereum’s future might have. Polygon co-founder Sandeep Nailwal said that scaling solutions are vital for Web3.0 global adoption, and the ecosystem will require what Ethereum 2.0 promises. He further added that scaling Dapps might need more, and that is where Layer2 solutions come in.
MATIC On a Bullish Run
MATIC faces slow movements following the almost 25% surge on 28 October. Meanwhile, the upswing had the alt overpowering the critical resistance at $1.73, the level that prevented MATIC from rising higher for almost five months.
The uptrend had the alt overcoming an ascending triangle formation that projects a 150% upswing. However, buyers will encounter multiple obstacles in the barriers at $2.07 and $2.21.
Meanwhile, MATIC needs to overturn $2.21 into support for a new upsurge confirmation. That can propel the alt towards its past ATH at $2.69 before rallying to a new peak at $4.32. however, failure to conquer $2.21 might mean plummets.