Extra Crypto
Despite being established cryptocurrencies in the crypto space, Loopring (LRC) And Polygon (MATIC) have been in a bearish rally lately. Moreover, there is no sign of rebound anytime soon.
Meanwhile, crypto enthusiasts and investors are moving to a new project that would allow them to own shares in yachts. That project is Yachtify.
Polygon (MATIC) Price Analysis
Polygon’s (MATIC) price has fallen below the support line of a long-standing structure, suggesting that its long-term upward trajectory may have come to an end. Meanwhile, a technical analysis of the weekly timeframe for Polygon (MATIC), the native token of the Polygon network, reveals a bearish outlook due to several factors.
First, the Polygon (MATIC) token’s price has breached the lower boundary of an ascending parallel channel, which is typically considered a bearish indicator. As this pattern has persisted since the beginning of 2023, a breakdown implies that further declines may be forthcoming.
Second, the weekly Relative Strength Index (RSI) exhibits a bearish trend. Traders utilize the RSI as a momentum gauge to determine whether to buy or sell an asset. When the RSI reading exceeds 50 and the trend is upward, bulls hold the advantage; however, if the reading falls below 50, the situation reverses.
In Polygon’s (MATIC) case, the RSI has dipped below 50, signifying a bearish trend. The concurrent decline in RSI and price lends credibility to the latter.
Currently, the price of Polygon (MATIC) stands at $0.941614, a 3.80% price drop within the last 24 hours and a 4.48% decrease over the past week.
Loopring (LRC) Loses Investors After Hacks and Rug Pulls
Recently, Loopring (LRC) has experienced a poor performance, leading many investors to explore alternative projects, such as Yachtify. Loopring (LRC) is the native token of the Loopring platform, which offers infrastructure for payment dApps and decentralized finance (DeFi).
Initially, Loopring (LRC) demonstrated an impressive performance, skyrocketing from $0.07 to an all-time high of $3.21 in November 2021. However, this surge was short-lived due to the crypto winter that took place last year.
Additionally, Loopring (LRC) has encountered various challenges, such as hacks and rug pulls. These issues have contributed to a decline in demand for Loopring (LRC) in recent months. Consequently, investors are shifting their attention to Yachtify, a project that will allow people to invest in real-world assets.
According to CoinGecko, the price of Loopring (LRC) is $0.302770 . This represents a 5.17% price decline in the last 24 hours and a 11.30% price decline in the past 7 days.
Yachtify (YCHT): Invest In The Yacht Leasing Industry Using Yachtify’s Token
Yachtify is a decentralized platform that will offer investors and yacht owners with multiple income-generating opportunities. By utilizing fractionalized NFTs, investors can access yacht and marine vessel investments at lower costs than traditional industry options.
This enables those with limited funds to acquire partial ownership in yachts and receive a share of the rental income produced by the vessel. For instance, a Yachtify investor holding 25% of a Sunseeker yacht would earn 25% of its rental income, minus any trading fees.
Currently, Yachtify’s presale is in its first phase and has garnered considerable interest from investors in the crypto community. The present value of Yachtify stands at $0.10, with expectations of growth as more investors participate. Newcomers to the platform can benefit from a 30% bonus being offered by Yachtify.
Find out more about the Yachtify (YCHT) presale:
Website: https://yachtify.market
Presale: https://buy.yachtify.market/login
Twitter: https://twitter.com/yachtify_market
Telegram: https://t.me/yachtify
