MATIC, ADA, and DOGE hot altcoins this week
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If MATIC keeps up its price shedding, the Polygon token could drop below the 20-day EMA(red wave) support close to the $1.31 level. On the other hand, a break and hold above immediate resistance could increase the MATIC token price above $1.63 before a downward movement.
Polygon has seen developing investor interest in the ecosystem, up 80.5% year to date as of Feb.18.
Polygon has gained traction in the past few weeks after they announced launching their beta version of the zkEVM on Mar. 27. These xkEVM testnets saw increased developer interest in the ecosystem. In addition, there is increased NFT activity whereby the weekly volumes have increased since Oct. 2022.
Cardano saw more adoption
Cardano(ADA) has been trading sideways, and the asset did not remain above the $0.40 resistance level. ADA has attracted traction due to increased network development and adoption. Hence, it brought about a price rally focusing on the network’s future value.source
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