Polygon rallies 22% on Disney invitation euphoria — will MATIC price gains swell in July?

cointelegraph.com:

Polygon (MATIC) reached lofty price levels this July 14, a day after getting selected for the Walt Disney Company's benchmark business development program.

MATIC's price surged 22.5% to $0.657 a token, its highest level in a month. In doing so, the token also climbed above its 50-day exponential moving average (50-day EMA; the red wave), a curvy resistance level that had been capping MATIC's upside attempts since January 2022.

MATIC's move upside appeared synchronous with similar intraday recovery actions witnessed elsewhere in the crypto market.

Nonetheless, Polygon fared better than most of its top-ranking rivals, including the cryptocurrencies Bitcoin (BTC) and Ether (ETH).

And at the core of MATIC's better performance could be the Walt Disney Company.

The multinational mass media and entertainment conglomerate announced six companies that would join its 2022 Disney Accelerator to build augmented reality (AR), nonfungible tokens (NFTs), and artificial intelligence (AI) solutions.

Polygon made it to Walt Disney's list, thus becoming the only blockchain platform to have done so ever. As a result, MATIC, Polygon's native utility and staking token, rallied better than most of its rival digital assets.

HUGE for $MATICEvery day feels like another prominent Web 2 platform embracing what’s coming, and Polygon is always involved, especially when it comes to NFTs. Excited to see what they cook up https://t.co/MDNBkivZDd

Polygon now tests a resistance confluence, defined by a support-turned-resistance range of $0.61-0.67 and a Fibonacci retracement line near $0.63, for a potential breakout in July.

A decisive move above the confluence could have MATIC pursue a run-up toward the 0.618 Fib line near $1.11, providing the token also closes