Polygon marketers focus on MATIC’s promising feature as Meme Kombat heats up

Over the past seven days, Polygon's native token MATIC has lagged behind the returns posted by other top alternative cryptocurrencies.

While MATIC has gained 10% during this period to trade around $0.86 at press time, other top altcoins such as Dogecoin (DOGE), Cardano (ADA), Avalanche (AVAX) and Solana (SOL) have posted returns of over 15%.

According to crypto trader mycryptoparadise_simmons on TradingView, MATIC is showing “promising market behavior” that suggests a bullish event to come:

“Gents, focus on MATICUSDT as it is showing promising market behavior. With the resistance rejected, he is now gaining strength in the zone of interest, preparing to fire another shot at overcoming the resistance, in a highly anticipated brutal move after the crash.

He notes that in the past, MATIC has shown a reliable pattern of breaking out of downtrends into uptrends. Currently, the token appears to be gearing up for a “strong bullish move” with strong momentum indicating a bullish direction.

MyCryptoParadise_Simon suggests that MATIC may test higher resistance around $0.9819 and $1.2425 if the momentum continues. However, crypto markets remain unpredictable, so traders “must be prepared for different situations.” For example, if the current breakout holds, MATIC could find support around $0.7722 to pave the way for a more bullish recovery.

Polygon (MATIC) price analysis by altFINS

altFINS $0.50-$0.60 trading range highlights the token's recent bullish divergence. This breakout pushed MATIC above its 200-day moving average, indicating a bullish trend reversal. The price reached altFIN's $1.00 resistance target before pulling back from rejection at that level.

Recent important support now sits around $0.75. This horizontal level corresponds to the 50% Fibonacci retracement, making a pullback to $1.00 resistance an attractive potential swing trade entry. Further support below comes at the 200-day moving average and the 61.80% Fibonacci level at $0.69.

Momentum shows mixed signs for now. The MACD line print below the signal line looks weak, but the RSI above 55 holds optimism. Additionally, the rising MACD histogram bars indicate another possible near-term bullish trend.

When looking at possible support and resistance zones, traders should see $0.75 as initial support, then $0.60 below. On the upside, $1.00 marks the initial resistance target, with resistance rising at $1.25.

The pull of getting Meme Kombat

The meme coin sector continues to gain popularity, with new crypto project Meme Kombat (MK) effectively capitalizing on the hype.

This Ethereum-based token attracted $2.6 million in its initial coin offering (ICO).

At its core, Meme Kombat is a fighting platformer that combines memes with hit-and-miss gameplay. The AI-powered platform hosts matches between popular meme coin mascots such as Doge, Pepe and Wojak for players to play.

To promote long-term engagement, Meme Kombat features a built-in staking system where users can stake MK tokens to earn up to 317% API yield. This makes earning through both gaming and staking seamless.

Using algorithms on Ethereum, the platform randomly creates meme wars with fair and unpredictable results for players to play. As the meme characters progress through the contests, a wide range of bidding opportunities will occur to select winners and claim prizes.

Meme Kombat season one will start soon, destroy 11 popular meme coin mascots.

Meme Kombat offers a strong gaming platform to drive intrinsic value. This explains its current popularity.

MK is trading at $0.235 as the pre-sale closes and should hit $0.246 in the coming days. Once the pre-sale is complete, Meme Kombat plans to officially launch its meme-fighting game platform for public access.

Visit the Meme Kombat (MK) Presale