Polygon (MATIC) Among Gainers When Top Coins Bleed

MATIC enjoyed significant gains on the trading day despite other coins going red. The Ethereum layer-2 token gained bullish momentum on the day, keeping over 6% gains in the last 24 hours. The token has also held its end against Bitcoin and Ethereum, leading significant gains over the two biggest coins. Polygon hasn’t been its best self in terms of social media engagement. It also traded red midway through the last 7 days. Related Reading: Can Bitcoin Bring An End To Crypto Winter? | BTCUSD Analysis October 24, 2022 However, the team has scored some big partnerships recently, including Nubank. These partnerships are part of the reasons why the coin is currently up. MATIC Survives A Midweek Crisis To Soar Over 7% The last seven days haven’t been the most stable for the crypto market in general. MATIC also experienced a midweek crisis that saw it drop to $0.78 on Friday from a $0.87 high on Wednesday. However, the coin recovered quickly and was able to climb to $0.90 today. The token’s price action indicates strong backing from the bulls. Currently, MATIC is trading at $0.89, up 6.40% in the previous 24 hours. This level now acts as its resistance zone. Assuming further gains, the price might once again test the 0.884 level of resistance. At the time of writing, MATIC had a somewhat optimistic outlook, as indicated by the Chaikin Money Flow (CMF) of 0.08. Nevertheless, the Relative Strength Index (RSI) was at 50...