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FxWirePro- Major Crypto levels and bias summary 
Polygon is a decentralized layer 2 Ethereum scaling platform that enables developers to build scalable user-friendly dApps with speed transactions and low fees.
|
|
Ethereum |
Polygon |
|
Consensus Mechanism |
Proof of work |
Proof of stake &plasma enabled chains |
|
Gas fees |
High |
Low |
|
TPS |
13 to 15 per second |
65000 per second |
|
Total dApps |
2970 |
>19000 |
|
Programming language |
Solidity |
Golong, solidity, and Vyper |
|
Security |
High |
Less secure |
Polygon launches new scaling solutions zero-knowledge Ethereum virtual machine (zkEVM). "It's just like using Ethereum, but with the groundbreaking scaling power of ZK tech," Polygon said in an announcement.
It is a layer 2 protocol that rolls up a large batch of transactions with single validity proof.
Technicals:
MATICUSD gained more than 200% from the minor bottom of $0.32 on positive developments. It hits a high of $0.9846 and is currently trading around $0.8650.
The near-term resistance is around $1.05, any breach above targets $1.1380/$1.35/$1.75/$2.10. On the lower side, immediate support stands at $0.78, violation below will drag the pair down to $0.65/$0.50. Significant bearish continuation only below $0.30.
It is good to buy on dips around $0.70 with SL around $0.30 for TP of $2.
