While MATIC witnessed a rapid decline in the first half of 2022, alongside other altcoins, there has since been a spike in on-chain activity on the Polygon network. MATIC has recouped its losses and key metrics on the Polygon network point towards a continuation of the altcoin’s uptrend.
The current uptrend in Shiba Inu price appears to be very turbulent as the bulls are finding rejection near the $0.00001200 zone. When observing the technicals, it appears that the uptrend move is part of a corrective structure. If the technicals are correct, the SHIB price could re-route south towards the monthly swing lows at $0.00000978, and if that level cannot hold as support, a retest of June’s $0.00000800 swing low is likely.
The crypto market continues to make impressive gains. All bullish trade setups should be safely managed to ensure healthy risk management. Bitcoin ascends in a turbulent fashion, which raises questions about the bullish strength. Ethereum is in profit from Monday’s bullish trade setup. Open positions should be managed safely. Ripple’s XRP remains dangerous as the bulls tread back into a descending weekly trend channel.