Polygon worth prediction: Will Matic get better above $1 after latest partnerships?

Key takeaways

• MATIC is up by solely 3% over the previous seven days regardless of Polygon asserting a collection of fascinating partnerships. 

• Antimetal launched its AI-powered cloud value optimization platform on Polygon.

• MATIC could possibly be eyeing the $1 mark, however the fundamentals of the broader crypto market might play an enormous function.

MATIC continues to commerce beneath $1

MATIC, the native coin of the Polygon ecosystem, is buying and selling beneath the $1 mark. The coin has lower than 1% of its worth over the previous 24 hours. At press time, the worth of Polygon stands at $0.8748 per coin.

The efficiency comes regardless of Polygon asserting a number of key partnerships this week. 

Earlier this week, AntiMetal launched its AI-powered cloud value optimization platform on the Polygon blockchain. 

The partnership was adopted by Horizon integrating Sequence’s pockets and developer stack on Polygon offering enterprises and app builders the flexibility to customise and lengthen blockspace.

Constructing for the way forward for #Web3 🏗@0xHorizon will combine @0xsequence’s pockets & developer stack #onPolygon offering enterprises & app devs the flexibility to customise & lengthen blockspace.

This strategic alliance will unlock improved scalability & safety for web3 apps💻 pic.twitter.com/PWo5Mmz89N

— Polygon (Labs) (@0xPolygonLabs) Might 17, 2023

In the identical vein, Sandeep Nailwal, the CEO of Polygon, additionally launched a web3 fellowship program.

Will MATIC transfer previous the $1 quickly?

MATIC has been underperforming over the previous few days as a result of fundamentals of the broader cryptocurrency market. 

The coin might rally previous the $1 mark quickly if the basics of the broader cryptocurrency market enhance. Bitcoin continues to commerce beneath $27k and will probably drop decrease if the bulls fail to defend the $26,400 help stage.

The technical indicators on the 4-hour chart present that MATIC is outperforming the broader cryptocurrency market. The MACD line stays above the impartial zone, indicating that the bulls nonetheless proceed to regulate the market.

The 14-day relative power index of 52 exhibits that MATIC could possibly be coming into the oversold area if the market sentiment persists. 

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