Even as the FTX-induced downward market continues, Polygon (MATIC) is closely following in the footsteps of its older relative ETH. Despite the bears’ dominance this year, many in the cryptocurrency industry see 2023 as the final chapter following a period of uncertainty.
A quick rundown of MATIC: – MATIC down at $0.843512 – TradingShot analysts show that MATIC follows ETH price closely with a rejection by the 50-day MA – 2023 not likely to bring a strong rally for MATIC by Shelby3
According to TradingShot, MATIC’s price action is difficult to ignore because it mirrors Ethereum’s price action from 2016 to 2017.
We all know that an investment’s past success is no indicator of its future success, but let’s see what this is about anyhow.