Polygon (MATIC) and Litecoin (LTC) Soar; other cryptos weighed down by the Fed By Investing.com



Investing.com – Most cryptocurrencies, including the , declined in the face of last night’s Fed meeting, but there are notable exceptions in the top 20.

Indeed, cryptocurrencies and are posting solid gains since yesterday, with gains of 10% and 13% respectively, with the two cryptos each benefiting from very positive announcements.

Launch of an Instagram tool for creating Polygon-based NFTs

In the case of the Polygon (MATIC), it should be noted that Meta Platforms (NASDAQ:), the parent company of Facebook and Instagram, announced yesterday the launch of a functionality for creating and selling NFTs (or digital collectibles) directly on Instagram.

This feature will be based on the Polygon blockchain, Meta said, which explains the strong bullish reaction of its native cryptocurrency, the MATIC, although these features will initially only be accessible to a limited number of handpicked creators. .

MoneyGram app now lets you buy Litecoin

Regarding Litecoin (LTC), the rise responds to the announcement by the global digital payments company MoneyGram that most users in the United States can now buy, sell and hold Litecoin, as well as Bitcoin and Bitcoin. Ethereum, from its MoneyGram mobile application.

Alex Holmes, President and CEO of MoneyGram, said:

“As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet this demand and bridge the gap between blockchain and traditional financial services through our global network, compliance solutions leading edge and our strong culture of fintech innovation.”

Cap on the key threshold of $1 for the Polygon (MATIC)

From a graphical point of view, it should be noted that the MATIC began its rise towards $0.84 last night at 10 p.m., and then peaked at more than 0.98 early this morning, the highest since August 15, an increase of more than 15% in a few hours.

Polygon (MATIC) - H4 Chart

From now on, the next key resistance to cross will be the crucial psychological threshold of parity with the Dollar, before the peak of mid-August at around $1.05. On the downside, the first potential support is around $0.928/0.93.

Litecoin sends a bullish chart signal

As for Litecoin, which for its part started its rise yesterday morning towards $55 to mark a peak last night at $64.54 (the highest since September 13), the rise exceeded 17%, and allowed to send a strong bullish chart signal.

Litecoin (LTC) - H4 Chart

Indeed, as seen on the H4 chart below, LTC broke out through the top of a triangle and then broke through chart resistances at $54.4 towards around $62. Now, the next potential upside target will be the 09/13 peak at $67.38. On the downside, the first major support zone lies at $57.5/$58.4.

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