After a period of consolidation, it looks like MATIC might be ready to make its next move. The cryptocurrency has been trading between $0.30 and $0.50 for the past few weeks but recently broke out of that range to hit $0.60. This breakout could be the beginning of a new uptrend that takes MATIC towards its previous all-time high of $1.10. You can buy MATIC in a smart trading bot such as biticodes.
Major Profit Opportunity for MATIC Buyers
As the price of MATIC continues to surge higher, there is a major profit opportunity for buyers who have been holding onto the coin. After breaching the $0.30 resistance, the next major target for the coin is $0.50. This would represent a significant increase in value and could lead to even more profits for buyers.
Those who are looking to get involved in MATIC should do so now while the price is still relatively low. Once it starts to approach the $0.50 mark, more people will likely start buying into the coin and pushing the price even higher.
Long-Term Forecast Dim for Matic
Matic’s long-term outlook is dim after breaching major resistance. The token has been in a downtrend since early 2018 and is currently trading well below its all-time high.
While Matic has seen some recent upward momentum, it is still very much in a bear market. And given the current state of the crypto market, it is unlikely that Matic will see any significant price growth shortly.
How did Matic make so much profit?
Matic has been on an absolute tear lately, more than doubling in price in the past month. The main reason for this surge in price is due to the increasing interest in decentralized finance (DeFi).
Matic is a layer 2 scalability solution that allows for near-instant transactions with low fees. This makes it perfect for use cases such as DeFi, where speed and low fees are of the utmost importance.
As DeFi applications have exploded in popularity over the past few months, so too has demand for Matic. This has caused the price of Matic to skyrocket, making it one of the top performers in the crypto world.
With Matic currently sitting at around $0.40, there is a strong possibility that it could breach its all-time high of $0.50 shortly. If this happens, it would put Matic well on its way to hitting its $1 billion market cap target.
So, there you have it! These are just a few of the top performers in the crypto world right now. With the market looking bullish and DeFi applications gaining traction, we could see even more price increases in the days and weeks ahead.
Cause of MATIC to hit the $1 target
Matic Network is a Layer 2 scaling solution that enables fast, low-cost, and scalable transactions on the Ethereum blockchain. Matic Network is powered by an adapted version of the Plasma framework that supports both ERC20 and ERC721 tokens.
Matic Network’s target is to hit $1 after breaching major resistance. The main reason for this is that Matic Network has been growing rapidly in recent months. The number of developers working on Matic Network has increased significantly, and the project has partnered with some of the biggest names in the industry. Additionally, Matic Network’s testnet has been live for over six months now, and the mainnet is expected to launch in Q3 2019. All of these factors are contributing to Matic Network’s rapid growth and increasing valuation.
In conclusion, Matic Network’s target of $1 is achievable shortly. The project has a lot of potentials and is already making significant progress.
Conclusion
MATIC has surged over the past week, breaking out of a consolidation pattern and surging toward its $1 target. The move came after a period of consolidation around the $0.50 level, with MATIC now looking poised to hit its next major resistance level at $1.00. If MATIC can continue to surge higher, it could reach its all-time high price of $1.40 shortly.