Matic price outlook when polygon ZKEVM goes live in the Mainnet

• Polygon Labs has announced that his polygon ZKEVM is now live.
• Matic, the native polygon token, has dropped by 8 % last week and 3 % in the last 24 hours.
• The technical outlook for Matic on the daily chart indicates that bears have an advantage.

The polygon price remains just over $ 1.08, with the cryptocurrency in the middle of a market flaut for most old coins near the critical level of $ 1.00.

but while Matic lost about 8 % of its value last week, a positive mood around the Ethereum scaling project hovers. In particular, the community is pleased about the latest development in connection with polygon-the introduction of the highly expected zero-knowledge-based network ZKEVM of the blockchain protocol.

Polygon ZKEVM Mainnet Beta went at 10:00 a.m. Edt Live and saw how Ethereum co-founder Vitalik Buterin carried out "The Symbolic First Transaction" at 10:30 a.m. Polygon ZKEVM, which has been under development since last year, not only offers more scalability, but also brings users cheaper transactions.

The moment we all waited - polygon #zkevM Mainnet beta is live with @vitalikbuterin carrying out the symbolic first transaction.

👏🏿 permissible
👏🏾 Public
👏🏽 Fast finality
👏🏼 Leading EVM equivalent zkevm
👏🏻 Complete open source

More 👇🏻 https://t.co/xo4mbhnash

- polygon (Labs) (@0xpolygonlabs) 27. March 2023

The start of ZKEVM has attracted over 50 projects from the entire crypto ecosystem, including cryptocurrency, web3 and blockchain gaming.

Polygon price outlook at the start of ZKEVM in the Mainnet

polygon was traded lower since the price on March 18 fell around $ 1.25, with a double-top formation with the recent decline to low-levels of $ 1.06.

bulls will probably rely on the rising trend line (green line), but if it breaks, Matic/USD could fall back to horizontal support by $ 1.04. Another collapse could press the bulls to $ 0.93 and probably the main support zone near $ 0.75.

Matic Prize-Will he explode higher after the start of ZKEVM?

The broader cryptoma market reduces the latest profits, whereby all top 10 cryptocurrencies are traded lower on Monday morning. The campaign is in contrast to a positive opening for US shares, since the traditional financial markets benefit from new positivity after the sale of Silicon Valley Bank.

While bears have an advantage, the Matic Prize can drive a flip over crypto to test the latest supply zones. This includes the price level, which is characterized by the exponentially sliding 50-day average, which currently represents an immediate offer wall close to $ 1.14.

If an upward dynamics appears, the short -term outlook is where the price of polygon is again $ 1.25 and possibly $ 1.55.