MATIC’s price remains strong despite price facing rejection from a high of $0.8 as the price holds above the key support area.  MATIC breaks out of a descending triangle as the price looks strong despite Bitcoin (BTC) dragging market prices down.  The price of MATIC trades above key support of $0.77 as the price continues to trade above 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe.  Polygon (MATIC) price has held strong above the key support area after breaking out of its descending triangle and assuming a bullish price movement against tether (USDT) as BTC price remains in its range, dragging most crypto assets down. The crypto market has not had the Uptober that many expected, as the market has continued to range despite showing some great signs of rallying in the early part of the month. Except for a few exceptional coins, such as Polygon (MATIC), Bitcoin (BTC), Ethereum (ETH), and other crypto assets have remained dormant. (Data from Binance) Related Reading: Tron Development Activity Grows In The Last 7 Days – Except TRX Price Polygon (MATIC) Price Analysis On The Weekly Chart Most projects have fared poorly in the bear market, with many experiencing more than 50% price declines, discouraging most traders and investors from stockpiling these assets. With Bitcoin’s dominance (BTC.D) rising and the price of BTC moving in a range, this has affected most crypto projects, including the price of MATIC, as the price has shown less aggression after breaking out from its descending triangle. With BTC.D trying to resume its rally above the 43% mark, this would mean altcoins will be hurt when BTC declines in price and prevent other coins like MATIC from rallying.  After rallying to $1, the price of MATIC faced resistance to trend higher to $1.5 as the price struggled to break above the resistance at $1 despite rallying from a weekly low of $0.3. The price of MATIC retraced to a region of $0.77, where the price formed strong support to rally to a high of $1 as bulls still take control of the price; if the price of MATIC holds above 0.77 support, we could see more rallies from MATIC. Weekly resistance for the price of MATIC – $1. Weekly support for the price of MATIC – $0.77. Price Analysis Of MATIC On The Daily (1D) Chart The daily timeframe for the price of MATIC has shown resilience as the price continues to hold and maintain bullish strength after a successful breakout from a descending triangle.  MATIC’s price failed to break above $1, but it has shown strength, holding above its key support as this would be the basis for more rallies.  If MATIC’s price breaks below $0.77, we could see bears taking over the price of MATIC. Daily resistance for the MATIC price – $1. Daily support for the MATIC price – $0.77-$0.7. Related Reading: Why The Bitcoin Price May Be Ready To Return To $20,000 Featured Image From CPO Magazine, Charts From Tradingview

Bitcoin and equities rallied late in the session, suggesting rate hikes may be mostly priced in and may not push markets down in the future

The post Market Wrap: BTC, Stocks Rally in Late Session Following Fed’s Rate Increase appeared first on Blockworks.

Investors are likely expecting a non-aggressive approach to interest rates following Wednesday's change, leading to a jump in markets

The post Market Wrap: Stocks, Altcoins Rise Despite Rate Hikes and Ukraine Conflict appeared first on Blockworks.

The EU bill to regulate crypto removed language that would have effectively banned mining, sending crypto markets up, while equities fell amid tensions with Russia

The post Market Wrap: Crypto Rises as European Mining Ban Falls Through appeared first on Blockworks.

Biden announced plans among the US, European Union and G7 nations to remove Russia's trade status, deepening the economic burden on the country

The post Market Wrap: Stocks, Cryptos Fall as US Looks For New Ways to Punish Putin appeared first on Blockworks.

Investors are watching the developing conflict in Ukraine and await Biden's executive crypto order and new interest rates

The post Market Wrap: Equities Seesaw as Ukraine Unpredictability Continues appeared first on Blockworks.

BTC, ETH and equity markets saw a sharp sell-off after Russia bombed Europe's largest power plant

The post Market Wrap: Cryptos Crumble After Russia Bombs Major Ukraine Nuclear Power Plant appeared first on Blockworks.

Increasing divergence between cryptocurrencies and equities has prompted suggestions that bitcoin has become a risk-off asset

The post Market Wrap: Bitcoin, ETH Extend Gains as Equity Markets Continue To Fall appeared first on Blockworks.

A collapsing ruble and the threat of bank account seizures may be leading Russians to bitcoin to avoid financial ruin

The post Market Wrap: Bitcoin, ETH See Massive Pump as Russian Ruble Crumbles appeared first on Blockworks.

The Ukrainian president criticized the country's allies for their lack of assistance in stopping the Russian advance

The post Market Wrap: Crypto, Stocks Rise Despite Ongoing Invasion of Ukraine appeared first on Blockworks.

Uncertainty and fear in the market continue to ramp up as tensions in Ukraine mount and investors prepare for aggressive rate hikes

The post Market Wrap: Bitcoin and ETH Drop as White House Warns Americans To Leave Ukraine appeared first on Blockworks.

The total nonfarm payroll in the United States rose by 467,000 in January, far exceeding expectations

The post Market Recap: Bitcoin, Ether and NEAR Rocket, Stocks Gain on Strong Jobs Report appeared first on Blockworks.