- According to market capitalization, Polygon ranks 18th in the cryptocurrency market.
- The IMX price has struggled between the 100-day EMA and the 200-day EMA.
- The MNT crypto price is trading over the key moving averages, showcasing the bullish trend.
A Layer 2 refers to any off-chain network, system, or generation constructed on the pinnacle of a blockchain (usually referred to as a layer-1 network) that amplifies the abilities of the underlying base layer network. Layer-2 networks can help any blockchain to introduce upgrades along with better transaction throughputs.
Technical Analysis of MATIC Price Over the Daily Timeframe
In a daily time frame, the Polygon crypto has witnessed selling pressure since mid-March. It has lost around 43% in the last 75 days. The MATIC crypto price has been bullish since October 2023, but the bullish momentum has been interrupted near the $1.30 mark.
At press time, the MATIC crypto price traded at $0.723 with an intraday loss of 2.78% in the past 24 hours. The chart structure displays that the crypto asset’s price has defended the $0.650 hurdle and shown slow and steady growth.
Currently, the Polygon price is trading between the 20-day and 100-day EMAs. If it slips below the 20-day exponential moving average and sustains, the selling pressure for the next few days can be possible.
Conversely, a trend reversal can be possible if the MATIC surpasses the 200-day EMA and trading volume increases.
Immutable Price Technical Analysis Over Daily Timeframe
When writing, the IMX crypto price traded at $2.27, which dropped by 4.46% on an intraday session. The market capitalization of the crypto is $3.37 billion, and the 24-hour trading volume is $65.50 Million.
In a broader time frame, the immutable crypto price has been bullish, but short-term profit booking has been seen. The price has been rising by forming higher highs and higher lows. The IMX price has formed a higher low and is trying to gain bullish momentum.
Suppose the Immutable crypto price starts trading below the 200-day exponential moving average and trending volume decreases, the price may gain bearish momentum.
On the other hand, if the IMX price surpasses the $2.60 hurdle and sustains, buyers may dominate for the long term. Buyers may eye the last swing high if the IMX price exceeds the $3 mark.
Mantle Crypto Price Technical Analysis Over Daily Timeframe
When writing, the MNT crypto price was traded at $1.01, losing 2.02% in an intraday session. The market capitalization is $3.30 Billion, and the trading volume is 56.49, which has increased by 45% in the past 24 hours.
In a broader time frame, the MNT crypto price has been on a bullish trend. The bullish trend has disturbed near the $1.50 hurdle and performed negatively.
Suppose the Mantle crypto price defends the 100-day EMA, it may gain bullish momentum. If the trading volume supports the bullish momentum, it may regain the $1.50 hurdle.
Alternatively, if the digital asset price slips below the key moving averages, most investors may prefer to book profit, leading to strong selling pressure.
Conclusion
Mantle crypto price has been bullish and has come for a pullback. If it triggers a pullback, it may gain further bullish momentum. The Immutable crypto price has shown weakness since February, but it has defended at the $1.80 mark and displayed slow and steady gains.
The MATIC price chart has displayed selling pressure and has started consolidating into a range. The further momentum may depend upon the breakout.
Technical Levels
MATIC– It is expected to take support on the $0.65 and $0.50 mark in the upcoming trading session. Polygon crypto price may face resistance from the $0.75 and $0.95 levels.
Mantle– MNT price may take support on the $0.900 and $0.770 marks. It may face resistance from the $1.10 and $1.25 levels.
Immutable– If it gains bullish momentum, an immutable price may face resistance from the $2.50 and $3.50 marks. On the other hand, if the price gains bearish momentum, the price might take support on the $1.85 and $1.5 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.