Since June 18th, Polygon (MATIC) has been rising along the support trend line. During this upward trend, it broke some lines of resistance and culminated in a decisive break in the rising triangular pattern on July 18.
Over the past week, Polygon has risen by about 70% and is currently retesting resistance levels at $ 0.8899.
A daily close on the triangular neckline ($ 0.7486) gives the bull a proper foothold for raising another paw.Technical analysts FX_Professor Against this backdrop, we have set price targets of $ 1 and $ 1.27.
General market price movements have seen a recovery factor following a brutal sellout. Over the past seven days, market capitalization has totaled $ 97 billion, surpassing $ 1 trillion for the first time since June 13.
Over the past week, the strongest top 100 performers have been Lido, Polygon and Ethereum Classic, up 155%, 70% and 55% respectively.
Polygon x Disney
On July 14, Disney announced that it chose Polygon along with Lockerverse and Flickplay to participate in an accelerator program aimed at developing technologies that create new storytelling experiences.
Extend this to Disney Accelerator programs aim to build future immersive experiences using new technologies such as augmented reality, irreplaceable tokens, and artificial intelligence characters.
MATIC surged 20% in the news, ending the day at $ 0.71. It also significantly exceeded the 50-day moving average for the first time since late March.
Hermes
As Polygon continues its positive development, co-founder Mihailo Bjelic teased the initiative to “give back to Ethereum” over the weekend. He signed off and said everything would be revealed in three days.
When you started @ 0xPolygon, The Ethereum community has embraced us. This allowed us to onboard 30,000 apps and 150 million users and become a giant in scaling efforts and alternative L1s.
We have maintained our commitment and promised to give back to Ethereum.
It will happen in 3 days. 🦄💫 pic.twitter.com/hRBN8DOVF7
— Mihailo Bjelic (@MihailoBjelic) July 17, 2022
Bjelic’s tweet didn’t give any hints about what would be revealed, but speculation is: Ethereum Community Conference (EthCC) It will be held in Paris from July 19th to 22nd.
Polygon hermes Is an open source zero-knowledge (zk) rollup technology. Zk refers to a protocol method that allows “proofing” without exposing the data to the verifier. At the same time, batch processing (or rollup) of transactions can further improve scaling and save costs.
The polygon team has announced the technology late January..this is Be expected Hermes will be live at EthCC.
