Posted: January 25, 2024 11:13 AM Updated: January 25, 2024 11:16 AM
briefly
Polygon (MATIC), once a promising altcoin, is now facing difficult times. In contrast, Retic Finance (RETIK) is gaining momentum as a new contender in the decentralized finance (DeFi) space.
The cryptocurrency market is known to be volatile, and investors are constantly looking for opportunities to make significant profits. Polygon (MATIC), once a promising altcoin, is now facing difficult times. In contrast, Retic Finance (RETIK) is gaining momentum as a new contender in the decentralized finance (DeFi) space. In this article, we will analyze the current situation of MATIC and see why RETIK is attracting attention from cryptocurrency enthusiasts.
MATIC Price Analysis: Is MATIC Losing Strength?
Polygon (MATIC), a layer 2 scaling solution for Ethereum, is making waves in the cryptocurrency space with its innovative approach to scalability. However, recent price movements have raised questions about MATIC’s ability to maintain momentum. At the time of writing, MATIC is trading at $0.81 and has recorded a change of -2.94% over the last 24 hours. The recent price action brings MATIC’s market cap to $7.56 billion. Year-to-date, MATIC has experienced a change of -15.66%.
Macro bullish reversal pattern: Despite recent difficulties, MATIC is showing a macro bullish reversal pattern on the weekly chart. Known as a rounding bottom, this pattern is usually a bullish signal. This begins with a price decline accompanied by high trading volume, followed by a recession in which both the price and volume of the asset reach their lowest levels. The subsequent recovery phase often sees increased trading volume. If the asset breaks above the price level before the initial decline, this could lead to a potential rally equal to the height of the round bottom.
target stock price: For MATIC, the price target based on this pattern is set at $1.32, which represents an upside potential of 44% above the breakout level. The relative strength index (RSI) is also above the neutral line of 50.0, indicating bullish sentiment in the market. Therefore, if MATIC successfully breaks the $0.92 level, the chances of a rally increase.
caution: However, MATIC is currently trading close to the important support level of $0.70. A drop below this level could invalidate the bullish thesis and lead to a decline towards the 200-day exponential moving average (EMA) of $0.68.
whale activity: The activities of Whale, the majority shareholder of MATIC, also play an important role. Whale activity declined in late December and is currently at its lowest monthly level. Monitoring their movements is important to determine whether MATIC has the momentum to bounce back. While MATIC is facing difficulties, Retik Finance (RETIK) has been creating buzz in the cryptocurrency community.
Retik Finance (RETIK): A new token with momentum
RETIK is an innovative DeFi project with a variety of features that set it apart from its competitors. Let’s take a closer look at why RETIK stands out.
Strengthening finances, enabling freedom: Retik Finance’s mission is to increase the efficiency and accessibility of global commerce by enabling universal cryptocurrency spending. With one app and one card, users have complete control over their cryptocurrency assets, giving them greater financial autonomy.
Crypto DeFi Debit Card: RETIK launches a DeFi debit card that allows users to seamlessly spend cryptocurrencies in the real world. This innovation bridges the gap between traditional finance and cryptocurrencies, making digital assets more accessible for everyday transactions.
Smart Crypto Payment Gateway: The platform provides a next-generation payment gateway that simplifies cryptocurrency payments and encourages adoption in everyday life.
AI-based P2P (Peer-to-Peer) lending: Retik Finance leverages artificial intelligence (AI) in its peer-to-peer lending platform to directly connect borrowers with borrowers without traditional intermediaries. The platform provides users with the opportunity to earn interest on their cryptocurrency holdings while making it easy for others to access their funds.
Multi-chain non-custodial highly secure DeFi wallet: Security is a top priority in the cryptocurrency world, and RETIK solves this problem with its ultra-secure DeFi wallet. Users maintain complete control over their digital assets, and the wallet supports multiple blockchains, providing a variety of solutions for storing cryptocurrencies.
Pre-sale success: Retik Finance’s pre-sale phase was truly impressive. At the current stage, the price of Retik Presale Stage 6, 1 RETIK is $0.08, and the next stage is $0.090. The current stage is 92.66% filled, USDT has reached $11,872,754 of the $13,150,000 target, and tokens sold amount to 203,852,133 out of 220,000,000. This success demonstrates strong demand and confidence in the project.
expected growth: Retik Finance team and experts predict continued growth as the project progresses. With innovative solutions and strong community support, RETIK aims to establish itself as a prominent player in the DeFi space.
conclusion
While MATIC is going through difficult times, the cryptocurrency market is dynamic and opportunity-rich. Retik Finance (RETIK) has emerged as a promising contender in the DeFi sector by offering innovative solutions and receiving support from the cryptocurrency community.
Investors and enthusiasts are always looking for projects with momentum and growth potential. As the cryptocurrency landscape continues to evolve, both MATIC and RETIK represent examples of the ever-changing nature of the market. It will be interesting to see how these projects develop in the coming months and how they contribute to the wider cryptocurrency ecosystem.
Click here to participate in the Retik Finance pre-sale
To learn more about Retik Finance (RETIK), please visit the link below:
Website https://retik.com
blank: https://retik.com/retik-whitepaper.pdf
Link tree: https://linktr.ee/retikfinance
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About the author
Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.
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Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.