Polygon (MATIC) has been seeing a massive sell-off over the last few days. Although the general trend for the altcoin is still positive, MATIC has declined sharply and is past a very crucial support zone that could make losses even worse. But is there any hope of a possible rebound? Here are some highlights:

• At the time of writing, MATIC was trading at around $1.83, nearly 15% down in intraday trading.

• The altcoin had in fact tumbled below $1.7, a crucial support level, albeit it managed to regain those losses.

• MATIC has also slid past its 200-day moving average, suggesting a rout is coming.

Data Source: Tradingview.com 

Polygon (MATIC) – Price action and analysis

Polygon (MATIC) was by far one of the top-performing altcoins in 2021. But after a dip in crypto this year, it has followed other coins in decline. At the time of writing, the coin had lost nearly 15% of its value in less than 24 hours. 

This came as a huge shock considering MATIC was actually on an uptrend, has reversed some of the losses seen at the start of the year. More seriously, the coin has also surged below its 200-day moving average, suggesting that a bearish trend could hold. 

If indeed MATIC is not able to break past $1.75 and sustain gains there, then it could head towards $1 in the near term.

Should you buy Polygon (MATIC)

The answer is yes. If you are keen on buying quality cryptos with some amazing underlying fundamentals, then you won’t find a better option than MATIC. In fact, this recent dip gives investors a good opportunity to grab it at a discount. It is highly likely that the altcoin will rebound and head back up. As for short-term plays, MATIC is just too risky.

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Cosmos (ATOM) has shown some incredible resilience even as the broader crypto market reported weakness in January. The coin in fact has traded very close to its all-time highs albeit is it is a bit lower. With this price action, should you buy Cosmos (ATOM)? Here are some highlights first:

• At the time of writing, the token was trading at $39.41, fairly close to its all-time high price of around $46.

• Also, Cosmos (ATOM) is about 400% up from its lowest price, recorded in June last year.

• The coin has also surged by nearly 7% in 24-hour intraday trading.

Data Source: Tradingview.com 

Cosmos (ATOM) – price prediction and analysis

For the most part of January, a lot of Altcoins in the market has seen massive routs. But it seems Cosmos (ATOM) has managed to hold steady. Despite taking a few hits, the token has rebounded. It is still about 3% down in 7 days but remains 7% higher in 24-hour intraday trading. 

At the time of writing this post, Cosmos (ATOM) was trading at around $39. It is quite close to its all-time high of $46. Although we don’t expect it to retest those heights in the coming days, Cosmos (ATOM) is likely to consolidate around the $40 mark. Also, the token has surged past its 25- and 50-day moving averages, suggesting that a bullish alignment is well and truly in the mix.

Should you buy Cosmos (ATOM)

Cosmos (ATOM) is one of the most popular altcoins. The chain also looks to offer one of the fastest and low-cost blockchains in the world for innovative developers. It has been a hit among investors, ranking among the top 10 by market cap.

Based on those fundamentals, it is a decent token to get your hands on. The recent price action also shows it can be resilient even if broader headwinds hold back crypto assets.

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2022 has seen the entrance of a new dog-themed meme token, the Baby DogeCoin (BabyDoge). The meme coin is now gaining superb momentum and a fanatical following of investors who see it reaching the same heights as other meme coins like Shiba Inu and Dogecoin. But should you buy it? Well, here are some highlights first:

• At the time of writing, Baby DogeCoin (BabyDoge) in fact had attracted over 1.3 million holders

• The coin has also surged to a market cap of around $1.6 billion, trading at $0.000000006015 per coin.

• Baby Dodge is also up around 10% in the last 24 hours, indicating increased bullish activity.

Data Source: Coinmarketcap.com 

Baby DogeCoin (BabyDoge) – Price action and analysis

Shortly after launching this year, Baby DogeCoin (BabyDoge) has attracted a fair share of fans. The coin now has about 1.3 million holders, with whales getting into the action as well. The token has also been getting listings from top exchanges, including CoinEx and others. 

This has pushed the coin higher, gaining nearly 10% in the last 24 hours. We have also seen increased social media buzz for Baby DogeCoin (BabyDoge). In fact, the token has been one of the trending topics on Twitter, and its official account already has over 800,000 followers. At the time of writing this post, Baby DogeCoin (BabyDoge) was trading at $0.000000006015.

Should you buy Baby Doge?

The hope for most people who have invested in BabyDoge is to see it rival other meme coins like Shiba Inu, Dogecoin, and others. This is very possible and could help you make massive returns. In fact, BabyDoge went from zero to $1.6 billion in market cap quite fast.

But please note that meme coins don’t have any serious underlying fundamentals. They are simply speculative assets and as such, they are very risky. Do not put all your life savings here.

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The general outlook on Sandbox (SAND) over the last few weeks has been bearish. The metaverse token is now approaching a crucial support point in its price action. What happens from there will determine how it fairs in the near term. But can Sandbox (SAND) break the downtrend? The analysis is below but first, some highlight:

• Sandbox (SAND) is rapidly sliding down to its support zone of $4.2 after a bearish start to the year.

• This support level has however held strong after being tested twice before but bear pressure is very high.

• At the time of writing, the token was trading for $4.31, slightly above this zone and up around 2.5% in 24 hours.

Data Source: Trading view

Sandbox (SAND) – Price action and analysis

Like most coins in the crypto market, Sandbox (SAND) has seen a consistent decline for most parts of the year. The coin is in fact trading 15% lower compared to seven days ago albeit it has managed to pair up some of those losses with a 2% intraday gain. 

However, the downtrend has sent SAND towards its crucial support of $4.2. The support has been tested twice before this year and held strong. But if SAND fails to hold off the downtrend this time and falls below the $4.2 mark, the coin could tumble even further towards $3.3 and eventually $2.8. 

But, if bulls can hold off the pressure and maintain gains above that threshold, a quick rebound towards $4.6 is quite feasible in the near term.

Should you buy Sandbox (SAND)

Yes, Sandbox (SAND) is one of the most popular tokens right now due to the anticipation of the metaverse. The token was also one of the big performers in 2021, and despite the rocky start into the new year, long-term Sandbox (SAND) will still deliver incredible value to investors. It is therefore a decent buy right now.

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Polygon is an Ethereum layer-2 solution that could explode in 2022

Since the inception of bitcoin as the pioneer cryptocurrency, cryptographers have followed the trend creating a lot of other digital coins. There are now more than 6000 of these coins with more in the development phase. Polygon is one of the many cryptocurrencies, otherwise referred to as altcoins, after bitcoin.

Polygon was developed in 2019. It was initially referred to as “Matic Network“ but later rebranded to the polygon. Its main purpose was to solve the scaling problem that existed on the Ethereum blockchain without paying high gas fees. If you are an investor looking to add this coin to your portfolio, then here are some of the reasons you should consider.

1. Polygon’s Use in the Decentralized Finance (Defi) Industry

As stated earlier, polygon’s main aim was to help scale up transactions on the Ethereum blockchain while keeping the costs of transactions as low as possible. Polygon has so far managed to achieve both of these fetes. Many Defi developers are rapidly adopting this cryptocurrency, thanks to its attractive features. Using polygon is easy and fast and very affordable, making it a market leader in this sector. Considering that the Defi industry is now worth more than $100 billion, you could make some good money investing in this coin if it continues gaining traction in the industry. Additionally, Uniswap V3 has also recently been launched on the Polygon ecosystem bring more Defi developers and users to the polygon network. The more users it attracts, the higher the demand for this coin will rise, pushing its price up.

2. Polygon Has a Clear Plan

Of the more than 6000 digital coins in existence, very few have clear plans on what they intend to achieve in the feature. Most are dump and pump projects that only aim at raising a few dollars then fizzle into oblivion. Polygon is among the few projects that have shown a clear path. The project is currently providing real and practical solutions to the finance industry.

As an investor, you should not be quick to put your money in any project that gathers clout for a while with promises of profits but no defining feature. It would be prudent to consider the team behind any project, their skills, experience, and feature perspective. The team behind polygon has shown their seriousness and determination to provide solutions and convenience to the cryptocurrency industry. Among their most notable solution is the scaling feature that has evaded many other blockchains so far. They continue to research to advance their platform even further.

3. Polygon as an Impressive Market Capitalization

Market capitalisation is the value of all the coins that are in circulation. The coin’s current price multiplied by the total number of coins in circulation gives you its capitalisation. This value is an indication of the stability of a particular cryptocurrency. The higher the market cap, the more stable the digital currency in question. That means that in case of market fluctuation that happens from time to time, the price of that coin will not be affected significantly.

The current market capitalisation of Polygon is just above $15.7 billion. This value is relatively stable compared to the leading digital coin, bitcoin, with a market cap of about $794 billion. Polygon is currently ranked at number 13 in terms of this metric of all cryptocurrencies. Having this coin as part of your investment is a relatively same gamble. It is bound to grow, albeit slowly, in the next few years.

4. Polygon has Strong Partnerships

If you want to know whether a project has a future, take a look at the project’s partners. Most cryptocurrency projects are pump and dump developments whose aim is to collect as much cash as possible, especially during initial coin offerings, then fizzle with their investors‘ money. Polygon is a different project compared to other well-known digital currencies such as Ethereum and bitcoin. It has attracted serious potential partners such as the Kyber Network and GraphLinq Protocol. Kyber Network is using the Polygon platform to enhance the liquidity of its application. Using this scaling solution, it has developed Rainmaker, which is the first liquidity mining solution. Thanks to polygon’s low gas fees, its partnership with GraphLinq has seen more users come on board. As more partners come on board, this coin’s value is bound to grow in the near future.

5. Polygon has a Low Entry Point

If all the attractive features about this coin are not enough reasons to add it to your portfolio, then you can consider its nominal entry point. Most big projects that make the top 20 list of all cryptocurrencies are relatively pricey apart from a few. Polygon is among those coins that have potential but whose price is still significantly low. Currently, the price of one MATIC is $2.18. You can buy more than a hundred units at this price at just more than $200. That is very low compared to a currency like Ethereum that is retailing at more than $3,500. If in a few years MATIC hits $50, which is very possible owing to its features and progress, you could make a very handsome profit. You can consider having a few of these coins in your portfolio as a way of spreading your risks as well as diversifying your investments.

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