Polygon is an open-source blockchain that supports the launch of Decentralized Applications (Dapps) on its platform. Its native token is MATIC.

At the time of writing, Polygon (MATIC) is ranked in the 17th position in the CoinMarketCap ranking of cryptocurrencies. Uniswap is the largest Decentralized exchange in the world presently. MATIC trades at $0.6442 at present with a 24 hours decrease in price by 7.39%.

Polygon (MATIC) has reduced by 55.5% in the past 30 days. MATIC 30 days low and high prices are $0.56 and $1.50 respectively.

<em><strong>Some of the reasons why MATIC remains a good hodl are:</strong></em>
<ul>
 	<li>Present data of sellers' pressure.</li>
 	<li>The attraction of Non-Fungible Tokens projects to Polygon Blockchain.</li>
</ul>
<h2><strong>Present data of sellers' pressure</strong></h2>
Technical analysis data on Polygon ( MATIC) shows that out of the 11 oscillator indicators analyzed, 1, 9, and 1 indicate sell, neutral, and buy signals respectively. Also, out of the 15 moving average indicators analyzed, 14,1, and 0 indicate sell, neutral and buy signals respectively. This means that 15, 10, and 1 indicators gave a sell, neutral, and buy signals respectively. The relative strength index of Polygon (MATIC) is 31.8. This means that it is close to it's oversold/undervalued region of 30. If this happens, investors could see a bullish market reversal.
<h2><strong>The attraction of Non-Fungible Tokens projects to Polygon Blockchain</strong></h2>
In recent times, due to the recent explosion and gains that are associated with non-fungible tokens (NFTs), there has been an inflow of more investors to the market. One of the factors that had been a hindrance to its growth is the high gas fees associated with the Ethereum network. However, some of the market places for trading NFTs in the Decentralized market have now been adding trading on Polygon Blockchain as another option. This has attracted some of the projects and new ones to the Polygon ecosystem. With this rise, there will be more adoption of Polygon native token MATIC.

<strong>Conclusion</strong>

Polygon blockchain at present is competitive as an alternative to Ethereum blockchain. However, an inflow of more projects into it will attract more investors, which will directly increase the price of MATIC tokens.

Is Polygon (MATIC) Worth Hodling?

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

Is Polygon (MATIC) Worth Hodling?

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