Matic Network: crypto trading news
Matic Network: crypto trading news

Matic Network: crypto trading news

By Federico Izzi - 10 Dec 2019

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In today’s crypto trading news it is worth mentioning Matic Network (MATIC) for its very high volatility, which is losing more than 50% of its value.

Matic Network trading news

The decline in recent hours has extended to more than 70% cancelling all the climb that had been built in the last two weeks, in which the price had tripled its value in less than 15 days. 

The reasons are being determined: in particular, last May Binance launched the Matic Network IEO on its launchpad and, in the tweets of the last few hours, anonymous users reported suspicious transactions in favour of the foundation itself. These have triggered a strong bearish action that has caused panic by crashing prices, falling in a few hours from 4 cents to 1 cent, cancelling the bullish movement of the last two weeks. 

Matic Network trading news

Today the attention in the trading world turns to Matic, which is losing positions slipping into 82nd position, halving its market cap at just over 53 million dollars.

Over 80% of the first 100 cryptocurrencies are in negative territory. Among the top 20, the only green signs are those of Satoshi Vision, which moves just below 1%, Chainlink, which stands out with a climb of over 10%, and a double-digit climb also marked by Mindol (MIN).

Mindol continues to be characterised by volatility, which in recent days has been showing strong upward and downward movements. 

The strong volatility sees the recovery of 2 cents of dollars: subject to strong speculation. The recovery of 3 cents is necessary.

Gincoin is among the worst of the day: after the rise due to Microsoft’s official use of the token for the upcoming online gaming, the token lost 17% along with Kyber Network and Algorand. Algorand, after yesterday’s strong climb, is now retracting by more than 11 percentage points. 

The structures of Bitcoin, Ethereum and Ripple are weakening again: the fragility of these last hours brings the market cap back below 200 billion dollars. The dominance of Bitcoin remains anchored at 66%, while Ethereum returns above 8% and Ripple continues to fluctuate around 4.6%.

Matic Network trading news

Bitcoin trading news

Bitcoin fails to give the bullish signal necessary to confirm the first possible upward turn that would occur with prices above $7800. 

Prices today are back in oscillation close to the threshold of 7300 dollars. For Bitcoin, it is necessary not to go below 7100 dollars in the next few days.

Matic Network trading news

Ethereum trading news

The structure of Ethereum continues to remain caged in limbo just over $145 with micro-oscillations and low volumes that do not give a clear directional signal.

For Ethereum it is necessary to recover as soon as possible the $165 levels, which at the moment seem unreachable since the volumes are not helping to recover prices.

These fluctuations near the lows of the last two months are not a fuel to trigger a strong rise that would only occur with the return of purchasing volumes. 


Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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