Apr 12, 2023 at 01:07Are you ready for some crypto excitement? The latest movements of MATIC and the CyberConnect raffle are creating a buzz in the crypto world. Don’t miss out on these daily crypto opportunities – read on to learn more!
Opportunity 1: Making sense of $MATIC movements
In this in-depth article, analyst agency Santiment tried to find the logic in recent price actions on the Polygon blockchain. For example, in the last week, there have been several super large Polygon transactions, which is unusual. It was found that there is a noticeable correlation between the number of coins on the smart money wallets and the price of $MATIC.
When the percentage of $MATIC supply on exchanges falls and the price rises in response to demand, large movements of these tokens to the exchange begin, after which the whales fix profits until the next rise. That’s exactly what happened this weekend.
Polygon Bearish Signal: $109M In MATIC Enters Binance – Bitcoinist #Binance #BNB https://t.co/fOFOlHYAzr
— Yuki Eliot (@yukieliot) April 11, 2023
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Understanding these cyclesand watching closely the movements of the whales, you can try to play them in pairs — buying DIP after their sell-offs and selling immediately after the start of new big moves towards the exchange. An even simpler strategy is to just short $MATIC at the moments of large blockchain movements and sell them to the exchange immediately after the price increases (this is not a trading idea; act at your own risk).
Opportunity 2: CyberConnect raffle
CyberConnect is a decentralized social graph protocol that helps dApps bootstrap network effects and build personalized social experiences.
What to do:
- Mint a profile here (minimum 12 characters);
- Go to this site and complete the tasks;
- You must score 500 FanPoints (FP) to get a ticket;
- The drawing runs through April 13.
Opportunity 3: MATIC could double in price
There are different views on the crypto market. And here is what P_S_trade‘s technical analysis says: the Polygon (MATIC) price correction to $0.5 is unlikely. Probably, MATIC will not fall below $0.70-$0.80 in the near future.
Therefore, analysts consider the $0.70-0.80 zone ideal for purchasing MATIC in mid- and long-term portfolios with a first take profit not earlier than $2.50.
However, dear reader, it is up to you to decide whether to trust the fundamental analysis or the technical analysis.
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