Hello folks! I hope you all have had a merry Christmas and are enjoying holidays with your families. Also this time, it's clear that a Santa and new year rally for crypto is up and running. BNB and MATIC are surely set the stage on fire and who knows that the new year brings the happiest news of ETFs getting approved all at once.
After a brief pause of Bitcoin Bulls, market has once again lit off with a huge turnaround from BINANCE (BNB) and Polygon (MATIC). While both the coins have been frontrunners on many previous occassions, but this time they have chosen to take charge after the most others under top 20.
BNB and MATIC both have quite similar numbers as both have almost gained +25% in the last 7 days. In fact, this rally isn't due to some sudden development but has been building around these coins for quite a some time. Both coins have been moving sideways and taking support on certain levels for many times and facing resistance as well.
BNB Coin Technical Analysis
As For BNB in the last 2 months, the support has been around $225 and the resistance was around $255 on a daily basis. BNB struggles to break the resistance due to major changes that we witnessed over the Binance exchange management. For now, as everything seems settled, BNB broke through that resistance and now eying at $350 levels. But again, BNB faces a major resistance at around $310 and to reach to $350 it requires at least two big candles above $310.
MATIC Coin Technical Analysis
Talking about MATIC, the resistance that it was facing was around $0.92 and the support was around $0.77. For more than 50 days, it has remained stagnate, moving sideways. There were no clear reasons why it was unable to break the shakles and cope with Bitcoin rally. For now, it seems that MATIC has picked up nicely and currently trading well above of second resistance which is around $0.98. Currently, Matic is faltering with another resistance which is around $1.04 with the support at $0.98. If only Matic can break through this resistance and form two big candles above it, we are sure to witness a huge rally as the next major resistance lies at $1.2 levels.
Time for Not-So-Technical Analysis
Let me remind you that technical indicators have their limits but human imagination and creativity don't. You can do as much analysis as you want and you can be ninty nine times correct on your prediction but you need to be one percent with your imagination and faith. So I urge you to take this Not-So-Technical analysis almost as seriously as you take technical ones.
We, as crypto enthusiasts, are definitely staring at a distance right now. We are all eying at a much lenghtier bull run than previous occassions. What we now have to understand that this time the bull run won't be at the same time for all coins. It is a split one. The coins that lit up first, will diminish first and those that at last will stay till the last.
This time, it's going to be a marathon and will give an equal chance to everyone one by one. I have deep faith in both BNB and MATIC and for this reason I know that they will progress to next level sooner or later.
Additionally, if you you talk about the use cases for both these coins, there are only a few that could compete with them in their niche. While BNB is a chain hosted by the biggest exchange with tons of projects deployed on it, MATIC has been the undisputed leader of layer 2 coins around there with no major competition nearby.
Furthermore, consider the environment right now. It's all green days. Santa has chosen BNB and MATIC as our holiday gifts. Accept them as God's wish and remember they aren't done yet. After a few days, it's new year and my Not-So-Technical eye is indicating towards an extended bullish scenario for BNB and MATIC.
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