It has been quite an interesting week for Ethereum’s community as it prepares for a major upgrade. In fact, its impact has started spilling over into Ethereum layer 2 solutions such as Polygon now. The latter’s native cryptocurrency, MATIC, concluded the week on the back of a significant upside on the charts.
MATIC has been trading within an ascending channel after bottoming out on 18 June. Here, it’s worth pointing out, however, that its latest rally came after interacting with its ascending support line.MATIC has to contend with the resistance at the $1-price level, before pushing up further. However, In case it manages to garner enough upside, its next resistance zone will be above the $1.3-level.
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