The year 2022 proved to be a difficult one for the cryptocurrency and altcoin market, marked by the downfall of Terra and FTX, which had a significant impact on the industry. As a result, most digital assets suffered significant losses and are currently trading at a discounted value.
Cryptory.net - One of the newest methods Polygon uses to make Ethereum's ecosystem faster and more efficient is zkEVM (zero-knowledge Ethereum Virtual Machine).
While the Ethereum network and its users continue to suffer the high fees of layer-1 blockchain, various layer-2 (L2) solutions are being noticed to solve the problem.
Polygon (MATIC) price is trading above the long-term horizontal support area at $0.80. However, the lack of conviction from the price action and the RSI show unclear future movements.