{"id":19182,"date":"2023-03-27T16:26:27","date_gmt":"2023-03-27T16:26:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/matic-price-outlook-as-polygon-zkevm-goes-live-on-mainnet\/"},"modified":"2023-03-27T16:26:27","modified_gmt":"2023-03-27T16:26:27","slug":"matic-price-outlook-as-polygon-zkevm-goes-live-on-mainnet","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/matic-price-outlook-as-polygon-zkevm-goes-live-on-mainnet\/","title":{"rendered":"MATIC price outlook as Polygon zkEVM goes live on mainnet"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/1660940180940-1c1fae31-8d8c-4d10-bfa0-ef6cd7ca8f60-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/1660940180940-1c1fae31-8d8c-4d10-bfa0-ef6cd7ca8f60-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/1660940180940-1c1fae31-8d8c-4d10-bfa0-ef6cd7ca8f60-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/1660940180940-1c1fae31-8d8c-4d10-bfa0-ef6cd7ca8f60-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Polygon Labs has announced its Polygon zkEVM is now live.<\/li>\n<li dir=\"ltr\">MATIC, the native Polygon token is trading 8% down this past week and 3% down in the past 24 hours.<\/li>\n<li dir=\"ltr\">The technical outlook for MATIC on the daily chart suggets bears have an advantage.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/polygon\/\">Polygon price<\/a> remains just above $1.08, with the cryptocurrency poised near the critical $1.00 level amid a market lull for most altcoins.<\/p>\n<p dir=\"ltr\">But while MATIC has shed about 8% of its value over the past week, there\u2019s a sense of positivity hovering around the Ethereum scaling project. In particular, the community is reveling in the latest development involving Polygon \u2013 the launch of the blockchain protocol\u2019s <a href=\"https:\/\/coinjournal.net\/news\/polygon-announces-zkevm-mainnet-beta-will-go-live-next-month\/\">highly anticipated zero-knowledge based network zkEVM<\/a>.<\/p>\n<p dir=\"ltr\">Polygon zkEVM mainnet beta went live at 10 am EDT and saw Ethereum co-founder Vitalik Buterin perform \u201cthe symbolic first transaction\u201d at 10.30 am. Polygon zkEVM, which has been in development since last year, not only offers more scalability but also brings cheaper transactions to users.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The moment we\u2019ve all been waiting for \u2013 Polygon <a href=\"https:\/\/twitter.com\/hashtag\/zkEVM?src=hash&amp;ref_src=twsrc%5Etfw\">#zkEVM<\/a> Mainnet Beta is LIVE with <a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\">@VitalikButerin<\/a> performing the symbolic first transaction.<\/p>\n<p>\ud83d\udc4f\ud83c\udfff Permissionless<br \/>\ud83d\udc4f\ud83c\udffe Public<br \/>\ud83d\udc4f\ud83c\udffd Fast finality<br \/>\ud83d\udc4f\ud83c\udffc Leading EVM-equivalent zkEVM<br \/>\ud83d\udc4f\ud83c\udffb Completely open-source<\/p>\n<p>More \ud83d\udc47\ud83c\udffb<a href=\"https:\/\/t.co\/Xo4mbhnASh\">https:\/\/t.co\/Xo4mbhnASh<\/a><\/p>\n<p>\u2014 Polygon (labs) (@0xPolygonLabs) <a href=\"https:\/\/twitter.com\/0xPolygonLabs\/status\/1640360125188767745?ref_src=twsrc%5Etfw\">March 27, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">The zkEVM launch has attracted over 50 projects from across the crypto ecosystem, including cryptocurrency, Web3 and blockchain gaming.<\/p>\n<h2 dir=\"ltr\">Polygon price outlook as zkEVM launches on mainnet<\/h2>\n<p dir=\"ltr\">Polygon traded lower since price rejected around $1.25 on 18 March, with a double top formation coinciding with the latest dip to lows of $1.06.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/02\/27\/1679930082190-ef9b14a8-5c4b-4f49-aeed-6aced78e26ce.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"242\"\/><span class=\"fr-inner\">Polygon price on the daily chart. Source:\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/TZXTletv\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">The technical outlook on the daily chart suggests bears have a slight advantage, with the daily Relative Strength Index (RSI) sloping below the middle band. The daily Moving Average Convergence Divergence (MACD) is also below the signal line.<\/p>\n<\/div>\n<p dir=\"ltr\">Bulls are likely to rely on the ascending trendline (green line), but if this breaks, MATIC\/USD could retreat to horizontal support around $1.04. Further breakdown could push bulls to $0.93 and likely the main support zone near $0.75.<\/p>\n<h2 dir=\"ltr\">MATIC price \u2013 will it explode higher after zKEVM launch?<\/h2>\n<p dir=\"ltr\">The broader crypto market is paring recent gains, with all the top 10 cryptocurrencies trading lower on Monday morning. The action contrasts with a positive open for US stocks as traditional financial markets bounce on fresh positivity after the sale of Silicon Valley Bank.<\/p>\n<p dir=\"ltr\">While bears hold the advantage, MATIC price can ride a flip across crypto to test recent supply zones. This includes the price level marked by the 50-day exponential moving average, which currently provides an immediate supply wall near $1.14.<\/p>\n<p dir=\"ltr\">If upside momentum surfaces, the short term outlook is where Polygon\u2019s price retests $1.25 and possibly $1.55.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/polygon-price-matic-poised-as-highly-anticipated-zkevm-goes-live\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Polygon Labs has announced its Polygon zkEVM is now live. MATIC, the native Polygon token is trading 8% down this past week and 3% down in the past 24 hours. The technical outlook for MATIC on the daily chart suggets bears have an [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":19183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19182"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19182"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19183"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}