Polygon Climbs 20% On Disney Glee – Can MATIC Sustain Gains This Month?

MATIC, the native token of Polygon, is the highest performing cryptocurrency in CoinMarketCap’s top 50 list by market capitalization over the past 24 hours, with gains of about 20%. MATIC reached its highest level since early June, in the mid-$6.0 range, a day after Polygon was selected for Walt Disney’s benchmark business growth program. According to a Disney release, Polygon is one of the six organizations that will participate in the company’s 2022 Accelerator Program, a business and development initiative created to promote the expansion of creative businesses globally. Suggested Reading | CEL Token Price Plummets 50% As Celsius Goes Bankrupt Polygon (MATIC) Rises 20% In Last 7 Days As of this writing, MATIC is trading at $0.656, up 20.3% in the last seven days, data by Coingecko show, Thursday, its highest level in a month. In doing so, the token also surpassed its 50-day exponential moving average (EMA), the sloping red resistance mark that had constrained MATIC’s gains since January of this year. This week marks the launch of the Disney Accelerator program, which aims to explore new technologies inside augmented reality (AR), non-fungible tokens, and artificial intelligence (AI). Image: The Daily Hodl The recent rebound in MATIC is also significant from a technical perspective and may portend a near-term turnaround in the cryptocurrency’s fate. According to pundits, the new surge in th...