MATIC is one of the best performing cryptocurrency amongst the highest 20 cryptocurrencies by market cap.
The cryptocurrency market has carried out positively over the weekend, with the bulls taking full management of the market.
At press time, the full market cap stands above $1 trillion, up by greater than 5% within the final 24 hours.
Bitcoin stays the main cryptocurrency by market cap and topped the $22k resistance degree over the previous 24 hours. Ether is eyeing the $1,500 psychological degree after including greater than 10% to its worth at present.
Meanwhile, MATIC, the native token of the Polygon ecosystem, is one of the best performer amongst the highest 20 cryptocurrencies by market cap. MATIC has added greater than 25% to its worth at present, outperforming the opposite main cryptocurrencies within the course of.
The rally comes after CoinLedger, a number one tax reporting platform for cryptocurrency, DeFi, and NFT customers, announced earlier at present that it had formally built-in with the Polygon blockchain (MATIC).
Thanks to this newest growth, customers who work together with Polygon by way of dApps and wallets can now import their transaction historical past on to CoinLedger, permitting them to automate all of their capital positive aspects, losses, and earnings tax reporting.
Key ranges to observe
The MATIC/USD 4-hour chart is bullish as Polygon has been performing nicely over the past 24 hours.
The MACD line is inside the optimistic zone, indicating bullish momentum. The 14-day RSI of 86 exhibits that MATIC is at present within the overbought territory.
At press time, MATIC is buying and selling at $0.98 per coin. If the rally continues, MATIC might cross the $1 mark over the subsequent few hours.
In the occasion of an prolonged bullish run, MATIC might additionally surge previous the $1.10 resistance degree over the subsequent few hours or days. However, it will want the assist of the broader market to embark on a bullish run.