MATIC surges by 15% following HTC announcement

    The cryptocurrency market has continued its wonderful begin to the brand new week, with most cash up by greater than 4% within the final 24 hours.

    The new week is shaping out to be a optimistic one for the broader cryptocurrency market. The market has added almost 6% to its worth within the final 24 hours, and the whole market cap now stands above $915 billion. 

    Bitcoin lastly crossed the $20k psychological degree after including greater than 6% to its worth. Ether is closing in on the $1,200 resistance degree and is up by greater than 10% within the final 24 hours.

    MATIC, the native token of the Polygon ecosystem, is the perfect performer amongst the highest 20 cryptocurrencies by market cap. MATIC has added greater than 15% to its worth within the final 24 hours and at the moment trades above $0.530 per coin.

    The rally will be attributed to the talks on Web3 adoption by Polygon co-founder Mihailo Bjelic on Monday. According to Bjelic, mass adoption of Web3 will occur on cell, and Polygon is making ready to play an important function on this growth.

    The tweet was accompanied by a hyperlink to the announcement that HTC had launched a metaverse cellphone with Polygon and Ethereum help.

    Key ranges to observe

    The MATIC/USD 4-hour chart is bullish as MATIC has been performing properly over the previous 48 hours.

    The MACD line crossed into the optimistic zone just a few hours in the past, indicating bullish momentum. The 14-day RSI of 64 reveals that MATIC might quickly enter the overbought area if the rally continues.

    MATIC might surge previous the primary main resistance degree at $0.629 earlier than the tip of the day. In the occasion of prolonged bullish efficiency, MATIC might goal the $0.70 degree for the primary time this month. 

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