Polygon (MATIC) price is looking to gradually recover recent losses, and a 20+% rally could be the start of recovery. Meanwhile, BlockDAG announced an upcoming price increase to $0.006 for its tenth batch, underscoring its strategic market positioning. BlockDAG has also captivated audiences with a lunar-themed keynote video teaser, solidifying its status as a leading new cryptocurrency investment
Polygon Investors are Aiming for Growth
Investor behavior is one of the main drivers for MATIC, and this factor could be key in ensuring the price recovers from current levels.
Investor participation in the network demonstrates that they are not currently seeking to sell their tokens. On-chain analysis of active addresses shows that less than 1% is in profit. Meanwhile, it is usually the active addresses in profit that conduct transactions on the network with the intention of locking in profits.
This is not the case now as almost 69% of active addresses are at breakeven and they will try to raise the price even further to ensure they make a profit.
In addition, the transition of Polygon tokens from short-term to medium-term holders can be an important sign of trust. The former hold their assets for less than a month, which makes them prone to selling; the latter, as a rule, refrain from moving their stocks for at least a year.
Since the beginning of this month, more than 410 million MATIC worth more than $275 million have been moved to the addresses of medium-term holders. This suggests that holders of Polygon’s native tokens are confident that the price will eventually rise, providing them with higher profits. This confidence will be key to supporting the rally.
Polygon (MATIC) Forecast: Recovery Above $0.80
At the time of writing, the price was rebounding from the $0.65 support level and was close to breaking through the $0.70 resistance level. With investors hungry for price gains, Polygon could target $0.81 resistance, provided it turns $0.70 into support.
The MACD indicator is also showing signs of strengthening bullish sentiment. This technical indicator is used to identify changes in momentum and potential trend reversals in an asset. The formation of a potential bullish intersection suggests that the price may make a reversal in the coming days. Bullish signals from the broader market could fuel a 20+% recovery.
However, if the $0.65 support is broken and MATIC falls to $0.60, the coin will become vulnerable to a decline to $0.53. A fall towards this support will invalidate the bullish scenario and lead to further losses.
BlockDAG (BDAG) Announces New Goals
BlockDAG recently captured significant market interest by setting its coin price at $0.005 in the latest presale of batch 9, marking a critical phase in crypto pricing strategies. BlockDAG’s innovative mobile crypto mining technology, which allows for mining on smartphones without significant battery drain, is particularly revolutionary, making cryptocurrency mining more accessible and appealing.
On the other hand, BlockDAG has made headlines by revealing plans to raise its price to $0.006 in the next batch, highlighting its strategic market stance. Additionally, BlockDAG has intrigued audiences with a teaser video featuring a lunar theme, further establishing itself as a top choice in innovative cryptocurrency investments, especially due to its unique mobile mining approach.
Enhancing Speed and Scalability: BlockDAG Innovative Model
BlockDAG’s model presents a unique framework within the cryptocurrency realm, aimed at boosting scalability and velocity in contrast to conventional blockchain systems. Through the incorporation of a Directed Acyclic Graph (DAG) structure, BlockDAG facilitates the concurrent addition of multiple blocks to the network.
This parallel processing substantially decreases the duration required for verifying transactions, making it an appealing aspect for investors seeking swift and efficient transaction processing.
