Polygon Outlook Bearish as MATIC Price Faces Resistance Below $1, Top Analyst Says Hybrid Exchange Token DTX Will Hit Milestone First
The Bitcoin halving is less than a month away, but major altcoins face serious resistance, and markets have consistently valued new launches more favorably. Polygon (MATIC) outlook bearish as $MATIC price faces resistance below $1, while top analyst says hybrid exchange token DTX will hit milestone first.
While Polygon (MATIC) struggles in the layer two race, the DTX Exchange is surging in its presale and is on track to smash through $1 first. Greater market volatility means more growth for trading exchanges, and investors want to bet on pick-and-shovel plays.
Polygon (MATIC) Bearish Outlook With Resistance Below $1
Polygon (MATIC) cannot catch a break, and despite the massive success of other layer two scaling solutions like Arbitrum (ARB) and Base, it continues to show lackluster performance. Specifically, Polygon (MATIC) cannot break key resistance below $1, and with bulls exhausted, $MATIC could quickly fall into a bearish continuation.
Launched in 2017, Polygon (MATIC) was once a top crypto to invest in and the future of Ethereum (ETH) scaling Ethereum (ETH) with its Polygon (MATIC) Proof of Stake sidechain. However, over the years, Polygon (MATIC) has fallen behind due to the incredible rate of innovation in the scaling race. EIP-4844 solidified this trend with a massive reduction in fees for rollups, and the lack of investor buy pressure for Polygon (MATIC) explains its dismal performance.
Despite briefly breaking above $1 in March, the rapid rejection and now major resistance at around the $0.90 price point has analysts forecasting a bearish outlooking for $MATIC moving forward.
DTX Exchange (DTX) Primed to Smash $1 Price Target
DTX Exchange (DTX) leads as the top crypto to buy now in 2024, and its presale is flying. Top analysts forecast $DTX hitting $1 way before $MATIC, and the reason is simple. During periods of volatility, trading activity surges, and trading platforms are the largest net beneficiaries. The bull market is a perfect time for new trading platforms to make their mark.
Limited access and a lack of asset diversity have always been significant drawbacks in the trading world. Not to mention that users from certain geographical locations are banned from trading sophisticated instruments. Centralized exchanges have deep liquidity and provide the best experience, but users face counterparty risk.
DTX is blending the best of both worlds and introducing a platform that offers the performance of a centralized exchange but all the custody benefits of a decentralized exchange. It provides a next-gen trading experience thanks to Distributed Liquidity Pools, which source aggregate liquidity and its on-chain order book.
Offering over 120,000 financial instruments, including traditional equities, forex, and even contract-for-differences (CFDs), DTX Exchange is primed to become a trading hub this cycle. The native token unlocks premium access features such as leading analysis and analytics to improve any trader’s performance, and holders will be able to stake their tokens, participate in governance, and enjoy revenue share.
Amidst the current landscape, Polygon’s (MATIC) struggle is starkly contrasted by DTX Exchange’s promising growth, fueled by its innovative hybrid approach and extensive financial instrument offerings.
To learn more about DTX Exchange, visit DTX’s presale website or join DTX’s Telegram community.
