Investors Have More Confidence in Polygon as Its NFT Sales Steeply Increase

Investors confidence in Polygon appear to be growing as its NFT sales rise. In fact, over the past two months on OpenSea, Polygon NFT sales have outpaced Ethereum sales by a wide margin. It is important to note that Polygon is one of the few coins that has remained resilient enough to escape a sharp decrease in value during this current bearish season for cryptocurrencies.

As Polygon continues to form partnerships with major corporations like Reddit, Meta, and Starbucks, it fosters greater confidence in its NFTs and, thus, in the token. If Polygon maintains this high standard, MATIC’s price might skyrocket, particularly as the bearish season comes to an end.

Key Polygon Levels To Watch – February 1

Though MATICUSD has remained between the 1.3040 and the 0.7500 price levels since August 2021, the market’s order flow remains bullish. The Moving Average Convergence Divergence (MACD) also indicates that the market has been bullish for a long time.
The new bullish wave began as the price rose from the 0.7500 major level, according to the Moving Average Cross (MA Cross). A bullish order block was created below the current price level, and the price might retrace into the bullish order block to get buy orders executed.

Polygon Key Levels

Resistance Levels: $2.1000, $1.7500, $1.3040
Support Levels: $0.7500, $0.5200, $0.3200

Total Market Capitalization: $1.09TB
Polygon Market Capitalization: $10.71B
Polygon Volume: $0.80B
Market Rank: #10

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