💥MATIC - TO RISE BY 15% TO $1.67Please support this idea with a LIKE👍 if you find it useful🥳
You can take a look at my previous idea on MATIC where I made mention of a fall to $1.03 and a rise from there to $1.68 which price is following here👉
Back to today's chart,
Price encountered a resistance at $1.43 and broke it successfully with a pullback in play.
Therefore, I expect a rise to our original target at $1.67 - $1.68.
What do you think?
Share your opinion in the comment section✍️
Follow me to receive more updates on MATIC NETWORK (MATICUSDT) 🤗
Happy Trading💰🥳🤗
Maticnetwork
Polygon (Matic) Update: New ATH 🎯@127.20% Fibs target $3.47Polygon (Matic) Update: 12/08/21:
New ATH 🎯@127.20% Fibs target $3.47 (202% Gain).
Polygon (Matic) Script Buy Signal triggered EMA Crossover SMA Confirms the Bottom and Reversal in Price back to May Highs near the ATH (145% Gain). See previous analysis below. Happy Trading :)
Polygon (Matic) has found strong support @ $1. Since the May crash Matic has been on a slow downward trend from the top @ $2.85 and the bottom @ $0.64, currently Matic is trading @ $1.04. Matic looks poised for a big move (175% back to ATH ) from this support zone . Happy Trading
Polygon (Matic) Update: 05 /08/2021: To Retest ATH @ $2.72 , Next Stop $3.24 @ 127.20% Fibs, then $3.94 @ 161.80% Fibs and $5.26 @ 227.20% Fibs. 121% Gain from current price to the 127.20% Fibs @ $3.24. Matic has been performing extremely well despite the blood on the streets...See previous analysis below. Happy trading :).
$Matic $Polygon
See Previous Analysis Below:
Matic New ATH $2.70 🎯(80% Gain from Buy Zone) Update: 18/ 05 /21 See previous analysis below. Happy trading :)
Polygon (Matic) Update: $1.78 Target Hit. Next Stop $2 at the 161.80% Fibs. 20% Gain from current price level to $2. Next Target after $2 at $2.58, 54% Gain from the current price level. See previous analysis below. Happy Trading :)
Polygon (Matic) Update 14/ 05 /21: Matic in Price discovery , our next target price $1.78 at the 227.20 Fibonacci extension . Targets Hit $1, $1.30, Next Stop $1.35 (7% Gain). With this continued momentum to the upside, it is a 43% Gain from current price level @ $1.24 to the 227.20% Fibonacci extension at $1.78. See previous analysis below :)
Polygon (Matic) Update 30/04/21: Target Hit @127.20% Fibonacci level, New ATH @ $0.90 140% Gained from this parabolic move! Next Stop $1, .
Polygon (Previously known as Matic) Update 27/03/2021) poised to test another New ATH @ $0.67 (15% Gain) from the current price @ $0.58. On the 25th April the 13 EMA crossed up above the 50 SMA signalling a strong buy signal, Polygon gained 70% from this parabolic move back to the ATH levels which were tested last in early March. Our next price target from here is $0.80 (37% Gain) to the 161.8% Fibonacci level. See previous analaysis below :)
Polygon (Previously known as Matic) Update 25/03/2021) poised for another test of New ATH @ $0.67 (93% Gain)
Polygon (Matic) poised for another test of New ATH @ $0.67 (93% Gain). From Buy Zone 1 Matic has retraced 18% and is now sitting in our Buy Zone to DCA and accumulate. If we continue to retrace to the 23.60% Fibonacci level, expect an explosive move back towards the 61.80% Fibonacci level @ $0.43 (47% Gain). Since reaching the ATH we have failed to break past the 61.80% level but a further retracement to the 23.60% should get the Bulls back in the market and we can expect to finally break through this level after 4 failed attempts from the current ATH . Huge parabolic move still on the cards here, be patient, DCA if you are already riding the wave or look to enter for a potential 93%+ Gain. See previous analysis below. Happy Trading :)
Update 20/03/2021
Since reaching a new ATH @ $0.57 after a Buy signal came from our script, Matic retraced down to $0.32 and is currently sitting in our Buy Zone to re-enter Buys to DCA /Accumulate at the 38.20% Fibonacci level @ $0.35. We expect another huge parabolic move for Matic to test the previous ATH @ $0.57 and further push towards the 127.20% Fibonacci level @ $0.67 in search of a new ATH , there is a potential Gain of 93% from the current price level. Be patient use current Buy zones to enter or re-enter to DCA /Accumulate from the current price level. Current Stochastics show an extremely oversold market and we are confident Matic will be in search of new highs in the coming days. Happy Trading :)
Update 20/03/2021
Nice set up from Buy Zone 1, potential test of the 50 SMA before bouncing back to the upside. #MaticUsd
*Update* Matic has hit our 161.80% Fibonacci Target @ $0.58. Great buy for everyone that got in and accumulated more coins at the critical buy zone areas.
Polygon (Matic) Buy Opportunity! Potential 68% Gain. Great Performance throughout the past month from Matic, this cryptocurrency is showing very strong continuation bullish momentum with HH and LL in a bullish range growing just over 240% over the past month. Matic seems to have found some resistance short-term between the 61.80%-78.60% showing indications of a weak retracement. Buy zone from current price level at 50% ($0.37) Fibonacci level for a sniper entry, but will also be looking to accumulate more coins around the 50% Fib level. Wait for price action, further confirmation from Stochastics showing oversold market before entering any Buys. Potential 68% Gain from Buy Zone 1 to 127.20 Fibonacci Level @ 0.68. The road to $1 Polygon (Matic) is clear. Use buy zones to map out your buys and DCA to accumulate more coins.
What is Polygon?
Previously known as Matic Network, Polygon is a framework for building interconnected blockchain networks.
It seeks to address some of Ethereum’s major limitations—including its throughput, poor user experience (high speed and delayed transactions), and lack of community governance—using a novel sidechain solution.
Rather than being a simple scaling solution like its predecessor Matic Network—which uses a technology known as Plasma to process transactions off-chain before finalizing them on the Ethereum main chain—Polygon is designed to be an entire platform designed for launching interoperable blockchains.
Through Polygon, developers can launch pre-set blockchain networks with attributes tailored to their needs. These can be further customized with a growing range of modules, which allow developers to create sovereign blockchains with more specific functionality.
Key Notes:
The race is on to be the first interoperability solution to go fully live. Polygon’s proof-of-stake chain and Plasma scaling solution are live, but developers can’t yet launch their own standalone or shared security chains on Polygon until these features are released. Likewise, neither ZK-rollups nor optimistic rollups have been launched on the network, with Plasma currently the only scaling solution available on Polygon.
Polygon’s rivals are also rushing to go live with their offerings. As of March 2021, Polkadot has yet to launch public parachains; and while Cosmos’ Stargate upgrade has seen the launch of its Inter blockchain Communication Protocol ( IBC ), it won’t become fully operational until IBC transactions are enabled on the network.
💥MATIC - TO FALL TO $1.03 & RISE BY 65% TO $1.68Please support this idea with a LIKE👍 if you find it useful🥳
As clearly indicated, we have the neckline H & S pattern at $1.18 - $1.25.
Price is expected to rise from the entry price at $0.167 to this neckline zone.
If price fail to break this neckline, I expect a reversal to the $1.03 to complete the right shoulder before a rise by 65% to $1.68 to complete it's formation.
What do you think?
Share your opinion in the comment section✍️
Follow me to receive more updates on MATIC NETWORK (MATICUSDT) 🤗
Happy Trading💰🥳🤗
maticusdtmatic all set to set the stage on fire. 2.1 is what i would love to see provided btc breaks the higher band of 50000 dollar by the end of this month. we have seen the hash ribbon print the buy signal. now its worth taking risk for matic...
1.5 -2.1 are my target
MATIC - TO FALL TO $1.03 & RISE BY 65% TO $1.68Please support this idea with a LIKE👍
As clearly indicated, we have the neckline H & S pattern at $1.18 - $1.25.
Price is expected to rise from the entry price at $0.167 to this neckline zone.
If price fail to break this neckline, I expect a reversal to the $1.03 to complete the right shoulder before a rise by 65% to $1.68 to complete it's formation.
Share your opinion in the comment section✍️
Follow me to receive more updates on Trading
Polygon (Matic) Script Buy Signal triggered EMA Crossover SMAPolygon (Matic) Script Buy Signal triggered EMA Crossover SMA Confirms the Bottom and Reversal in Price back to May Highs near the ATH (145% Gain). See previous analysis below. Happy Trading :)
Polygon (Matic) has found strong support @ $1. Since the May crash Matic has been on a slow downward trend from the top @ $2.85 and the bottom @ $0.64, currently Matic is trading @ $1.04. Matic looks poised for a big move (175% back to ATH ) from this support zone . Happy Trading
Polygon (Matic) Update: 05 /08/2021: To Retest ATH @ $2.72 , Next Stop $3.24 @ 127.20% Fibs, then $3.94 @ 161.80% Fibs and $5.26 @ 227.20% Fibs. 121% Gain from current price to the 127.20% Fibs @ $3.24. Matic has been performing extremely well despite the blood on the streets...See previous analysis below. Happy trading :).
$Matic $Polygon
See Previous Analysis Below:
Matic New ATH $2.70 🎯(80% Gain from Buy Zone) Update: 18/ 05 /21 See previous analysis below. Happy trading :)
Polygon (Matic) Update: $1.78 Target Hit. Next Stop $2 at the 161.80% Fibs. 20% Gain from current price level to $2. Next Target after $2 at $2.58, 54% Gain from the current price level. See previous analysis below. Happy Trading :)
Polygon (Matic) Update 14/ 05 /21: Matic in Price discovery , our next target price $1.78 at the 227.20 Fibonacci extension . Targets Hit $1, $1.30, Next Stop $1.35 (7% Gain). With this continued momentum to the upside, it is a 43% Gain from current price level @ $1.24 to the 227.20% Fibonacci extension at $1.78. See previous analysis below :)
Polygon (Matic) Update 30/04/21: Target Hit @127.20% Fibonacci level, New ATH @ $0.90 140% Gained from this parabolic move! Next Stop $1, .
Polygon (Previously known as Matic) Update 27/03/2021) poised to test another New ATH @ $0.67 (15% Gain) from the current price @ $0.58. On the 25th April the 13 EMA crossed up above the 50 SMA signalling a strong buy signal, Polygon gained 70% from this parabolic move back to the ATH levels which were tested last in early March. Our next price target from here is $0.80 (37% Gain) to the 161.8% Fibonacci level. See previous analaysis below :)
Polygon (Previously known as Matic) Update 25/03/2021) poised for another test of New ATH @ $0.67 (93% Gain)
Polygon (Matic) poised for another test of New ATH @ $0.67 (93% Gain). From Buy Zone 1 Matic has retraced 18% and is now sitting in our Buy Zone to DCA and accumulate. If we continue to retrace to the 23.60% Fibonacci level, expect an explosive move back towards the 61.80% Fibonacci level @ $0.43 (47% Gain). Since reaching the ATH we have failed to break past the 61.80% level but a further retracement to the 23.60% should get the Bulls back in the market and we can expect to finally break through this level after 4 failed attempts from the current ATH . Huge parabolic move still on the cards here, be patient, DCA if you are already riding the wave or look to enter for a potential 93%+ Gain. See previous analysis below. Happy Trading :)
Update 20/03/2021
Since reaching a new ATH @ $0.57 after a Buy signal came from our script, Matic retraced down to $0.32 and is currently sitting in our Buy Zone to re-enter Buys to DCA /Accumulate at the 38.20% Fibonacci level @ $0.35. We expect another huge parabolic move for Matic to test the previous ATH @ $0.57 and further push towards the 127.20% Fibonacci level @ $0.67 in search of a new ATH , there is a potential Gain of 93% from the current price level. Be patient use current Buy zones to enter or re-enter to DCA /Accumulate from the current price level. Current Stochastics show an extremely oversold market and we are confident Matic will be in search of new highs in the coming days. Happy Trading :)
Update 20/03/2021
Nice set up from Buy Zone 1, potential test of the 50 SMA before bouncing back to the upside. #MaticUsd
*Update* Matic has hit our 161.80% Fibonacci Target @ $0.58. Great buy for everyone that got in and accumulated more coins at the critical buy zone areas.
Polygon (Matic) Buy Opportunity! Potential 68% Gain. Great Performance throughout the past month from Matic, this cryptocurrency is showing very strong continuation bullish momentum with HH and LL in a bullish range growing just over 240% over the past month. Matic seems to have found some resistance short-term between the 61.80%-78.60% showing indications of a weak retracement. Buy zone from current price level at 50% ($0.37) Fibonacci level for a sniper entry, but will also be looking to accumulate more coins around the 50% Fib level. Wait for price action, further confirmation from Stochastics showing oversold market before entering any Buys. Potential 68% Gain from Buy Zone 1 to 127.20 Fibonacci Level @ 0.68. The road to $1 Polygon (Matic) is clear. Use buy zones to map out your buys and DCA to accumulate more coins.
What is Polygon?
Previously known as Matic Network, Polygon is a framework for building interconnected blockchain networks.
It seeks to address some of Ethereum’s major limitations—including its throughput, poor user experience (high speed and delayed transactions), and lack of community governance—using a novel sidechain solution.
Rather than being a simple scaling solution like its predecessor Matic Network—which uses a technology known as Plasma to process transactions off-chain before finalizing them on the Ethereum main chain—Polygon is designed to be an entire platform designed for launching interoperable blockchains.
Through Polygon, developers can launch pre-set blockchain networks with attributes tailored to their needs. These can be further customized with a growing range of modules, which allow developers to create sovereign blockchains with more specific functionality.
Key Notes:
The race is on to be the first interoperability solution to go fully live. Polygon’s proof-of-stake chain and Plasma scaling solution are live, but developers can’t yet launch their own standalone or shared security chains on Polygon until these features are released. Likewise, neither ZK-rollups nor optimistic rollups have been launched on the network, with Plasma currently the only scaling solution available on Polygon.
Polygon’s rivals are also rushing to go live with their offerings. As of March 2021, Polkadot has yet to launch public parachains; and while Cosmos’ Stargate upgrade has seen the launch of its Inter blockchain Communication Protocol ( IBC ), it won’t become fully operational until IBC transactions are enabled on the network.
Trading Signal For MATICBTC Trading Signal:
There is a Trading Signal to Buy in MATICBTC MATIC Network / Bitcoin
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 0.00002477
⭕️SL @ Close below 0.00002283
🔵TP1 @ 0.00003088
🔵TP2 @ 0.00003940
🔵TP3 @ 0.00004566
If you liked our ideas, please support us with your likes 👍 and comments .
Polygon (Matic) Support @ $1, Matic looks poised for a Big MovePolygon (Matic) has found strong support @ $1. Since the May crash Matic has been on a slow downward trend from the top @ $2.85 and the bottom @ $0.64, currently Matic is trading @ $1.04. Matic looks poised for a big move (175% back to ATH) from this support zone. Happy Trading
Polygon (Matic) Update: 05/08/2021: To Retest ATH @ $2.72 , Next Stop $3.24 @ 127.20% Fibs, then $3.94 @ 161.80% Fibs and $5.26 @ 227.20% Fibs. 121% Gain from current price to the 127.20% Fibs @ $3.24. Matic has been performing extremely well despite the blood on the streets...See previous analysis below. Happy trading :).
$Matic $Polygon
See Previous Analysis Below:
Matic New ATH $2.70 🎯(80% Gain from Buy Zone) Update: 18/ 05 /21 See previous analysis below. Happy trading :)
Polygon (Matic) Update: $1.78 Target Hit. Next Stop $2 at the 161.80% Fibs. 20% Gain from current price level to $2. Next Target after $2 at $2.58, 54% Gain from the current price level. See previous analysis below. Happy Trading :)
Polygon (Matic) Update 14/ 05 /21: Matic in Price discovery , our next target price $1.78 at the 227.20 Fibonacci extension . Targets Hit $1, $1.30, Next Stop $1.35 (7% Gain). With this continued momentum to the upside, it is a 43% Gain from current price level @ $1.24 to the 227.20% Fibonacci extension at $1.78. See previous analysis below :)
Polygon (Matic) Update 30/04/21: Target Hit @127.20% Fibonacci level, New ATH @ $0.90 140% Gained from this parabolic move! Next Stop $1, .
Polygon (Previously known as Matic) Update 27/03/2021) poised to test another New ATH @ $0.67 (15% Gain) from the current price @ $0.58. On the 25th April the 13 EMA crossed up above the 50 SMA signalling a strong buy signal, Polygon gained 70% from this parabolic move back to the ATH levels which were tested last in early March. Our next price target from here is $0.80 (37% Gain) to the 161.8% Fibonacci level. See previous analaysis below :)
Polygon (Previously known as Matic) Update 25/03/2021) poised for another test of New ATH @ $0.67 (93% Gain)
Polygon (Matic) poised for another test of New ATH @ $0.67 (93% Gain). From Buy Zone 1 Matic has retraced 18% and is now sitting in our Buy Zone to DCA and accumulate. If we continue to retrace to the 23.60% Fibonacci level, expect an explosive move back towards the 61.80% Fibonacci level @ $0.43 (47% Gain). Since reaching the ATH we have failed to break past the 61.80% level but a further retracement to the 23.60% should get the Bulls back in the market and we can expect to finally break through this level after 4 failed attempts from the current ATH . Huge parabolic move still on the cards here, be patient, DCA if you are already riding the wave or look to enter for a potential 93%+ Gain. See previous analysis below. Happy Trading :)
Update 20/03/2021
Since reaching a new ATH @ $0.57 after a Buy signal came from our script, Matic retraced down to $0.32 and is currently sitting in our Buy Zone to re-enter Buys to DCA /Accumulate at the 38.20% Fibonacci level @ $0.35. We expect another huge parabolic move for Matic to test the previous ATH @ $0.57 and further push towards the 127.20% Fibonacci level @ $0.67 in search of a new ATH , there is a potential Gain of 93% from the current price level. Be patient use current Buy zones to enter or re-enter to DCA /Accumulate from the current price level. Current Stochastics show an extremely oversold market and we are confident Matic will be in search of new highs in the coming days. Happy Trading :)
Update 20/03/2021
Nice set up from Buy Zone 1, potential test of the 50 SMA before bouncing back to the upside. #MaticUsd
*Update* Matic has hit our 161.80% Fibonacci Target @ $0.58. Great buy for everyone that got in and accumulated more coins at the critical buy zone areas.
Polygon (Matic) Buy Opportunity! Potential 68% Gain. Great Performance throughout the past month from Matic, this cryptocurrency is showing very strong continuation bullish momentum with HH and LL in a bullish range growing just over 240% over the past month. Matic seems to have found some resistance short-term between the 61.80%-78.60% showing indications of a weak retracement. Buy zone from current price level at 50% ($0.37) Fibonacci level for a sniper entry, but will also be looking to accumulate more coins around the 50% Fib level. Wait for price action, further confirmation from Stochastics showing oversold market before entering any Buys. Potential 68% Gain from Buy Zone 1 to 127.20 Fibonacci Level @ 0.68. The road to $1 Polygon (Matic) is clear. Use buy zones to map out your buys and DCA to accumulate more coins.
What is Polygon?
Previously known as Matic Network, Polygon is a framework for building interconnected blockchain networks.
It seeks to address some of Ethereum’s major limitations—including its throughput, poor user experience (high speed and delayed transactions), and lack of community governance—using a novel sidechain solution.
Rather than being a simple scaling solution like its predecessor Matic Network—which uses a technology known as Plasma to process transactions off-chain before finalizing them on the Ethereum main chain—Polygon is designed to be an entire platform designed for launching interoperable blockchains.
Through Polygon, developers can launch pre-set blockchain networks with attributes tailored to their needs. These can be further customized with a growing range of modules, which allow developers to create sovereign blockchains with more specific functionality.
Key Notes:
The race is on to be the first interoperability solution to go fully live. Polygon’s proof-of-stake chain and Plasma scaling solution are live, but developers can’t yet launch their own standalone or shared security chains on Polygon until these features are released. Likewise, neither ZK-rollups nor optimistic rollups have been launched on the network, with Plasma currently the only scaling solution available on Polygon.
Polygon’s rivals are also rushing to go live with their offerings. As of March 2021, Polkadot has yet to launch public parachains; and while Cosmos’ Stargate upgrade has seen the launch of its Inter blockchain Communication Protocol ( IBC ), it won’t become fully operational until IBC transactions are enabled on the network.
MATIC AnalysisIdeas for MATIC/Polygon
A trendline needs to be established on the USD pair, badly!
On the BTC pair I expect the price action to be 'sticky' along the yellow line plotted
Just taking a breather after a big run
Matic - could drop by 50% ❗❗Many participants were asked to talk about the Matic Network. A project that has grown by as much as 15,000% in the last six months.
Now the project, like the main cryptocurrency, has been moving in a downward pattern for about 80 days. It has corrected 70% from its high, but there is still room to fall, and we will now look at the most realistic scenario.
The Matic is now approaching the $0.75 level and is likely to go down, which will probably lead to a breakout. If the price breaks through and tests the $0.75 level as resistance, a 50% drop is possible.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
ENJ and MATIC Symmetrical Triangle Similarities observed between Enjin and MATIC
Both are displaying a symmetrical triangle, then a large breakout to the upside
MATIC won in the % breakout to the upside, but that doesn't mean Enjin can't catch up, (plotted with bars pattern (line in green))
MATICUSDT DESCENDING CHANNELMaticusdt has been trading in a descending channel for weeks but it broke out few days ago. Matic continues to consolidate in a mat pattern below the resistance zone, it's plausible we see a break out of the pattern in attempt to break the $1-$1.23 resistance or either way price breaks down to retest the previous low in the same falling channel which is very faint. A good entry zone is the $1 /$1.23 resistance zone and as usual do watchout for breakout with a valid retest of the target to confirm long postion. Your likes and comments would be much appreciated, you can follow up for more helpful contents and do follow my comment sections too for quick updates.
MATIC Rebounds A Strong 28% After Yesterday’s Plummet
MATIC recovered a strong 28% today as the cryptocurrency rebounds from $0.685 to hit $0.822.
Yesterday, MATIC was one of the worst-performing coins, but today is the strongest performer in the top 50.
Against BTC, MATIC found support at 2300 SAT yesterday and has rebounded higher to 3630 SAT.
After being one of the worst performers in the top-50 yesterday, MATIC reversed today and surged by an impressive 28% to make it today’s strongest performer in the top-50. The cryptocurrency dropped lower yesterday during BTC’s drop beneath $30,000, which caused MATIC to spike beneath the 200-day MA and hit support at $0.619 (downside 1.414 Fib Extension).
By the end of the day, MATIC found support at $0.685 and rebounded higher from there today to break above $0.833.
The team behind MATIC, Polygon, recently launched their own NFT gaming studio called Polygon Studios. The studio was created to bring more development to the network and provide support and infrastructure for blockchain game builders.
In other news, large-scale projects are continuing to adopt the layer-2 scaling solution provided by Polygon. For example, last week, Balancer Protocol announced that they launched their service on the Polygon network. This integration will help to reduce transaction fees for traders quite significantly.
Coinbase Wallet announced that they integrated the Polygon Network into their mobile application service in the latest integration. This integration will allow users to use any dapp and protocols already on Polygon through the app, such as Aave.
MATIC is now ranked in the 20th position as it currently holds a $4.12 billion market cap value.
Polygon (MATIC) Coin Price Analysis
What has been going on?
Taking a look at the daily chart above, we can clearly see that MATIC has been in an extended downtrend since mid-May after it hit a high-day closing price of around $2.44. Since then, it dropped through June until support was found at about $1.05 toward the end of the month.
Unfortunately, the support at $1.05 could not hold in July and the market tanked further from there. It broke beneath $1.00 and initially found support at $0.8. However, on Monday, MATIC broke $0.8 to hit support at $0.728 (.786 Fib Retracement). It continued lower yesterday as BTC dipped beneath $30K, dragging MATIC as low as $0.619, where it found support at a downside 1.414 Fib Extension.
Luckily, the bulls regrouped by the end of the day and allowed the daily candle to close at $0.685. The bulls rebounded higher from there today to break above $0.8. If today’s candle can close beyond $0.8, it would be breaking above a long-term falling trend line that has prevented the market from making a higher high since mid-May.
MATIC Coin price short term prediction: NEUTRAL
MATIC is considered neutral right now, but a drop beneath $0.685 would turn the market bearish in the short term. To start to turn bullish, MATIC would need to rise beyond the July highs at around $1.20 and break above the 50-day MA.
Looking ahead, if the sellers push lower, the first level of support lies at $0.8. This is followed by support at $0.728 (.786 Fib Retracement), $0.685 (May support), and $0.65 (200-day MA). Beneath the 200-day MA, additional support lies at $0.619 (Downside 1.414 Fib Extension), $0.6, and $0.51 (.886 Fib Retracement).
Where Is The Resistance Toward The Upside?
On the other side, the first level of strong resistance lies at $0.94 (20-day MA). This is followed by resistance at $1.00, $1.05 (bearish .236 Fib Retracement), and $1.15 (100-day MA).
If the buyers can penetrate the 100-day MA, the first resistance lies at $1.20 (50-day MA), $1.31 (bearish .382 Fib Retracement), and $1.50 (bearish .5 Fib Retracement).
MATIC bearish movement analysis !!Hello everyone , as we all know the market action discounts everything :)
We are gonna look at a 1D chart and gonna use technical analysis tool to understand the MATIC (Polygon) movement .
Matic (Polygon) seems to enter a bearish trend , the crypto has lost over -5.99% in the last 24 hours and -23.87% in the last week alone , now if we look at the 1D chart we can see that the bears are holding control over the the market price . so we are getting a big sell signal but lets use indicators to confirm this bearish movement .
1_ The market price at 0.800430 moving below the MA and the EMA ,MA at 0.952522 and the EMA at 0.933803. (bearish sign)
2_RSI reached oversold zone at 28.91 (bearish sign) we cant see a reversal yet until the RSI starting getting momentum up.
3_MACD seems to be at a negative crossover (bearish sign)
I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move.
Support & Resistance points :
support Resistance
1_ 0.78230 1_0.86930
2_ 0.75275 2_0.92675
3_ 0.69530 3_0.95630
Fundamental point of view :
MATIC is an ERC-20 token native to Polygon (formerly Matic Network), which is a Layer 2 scaling solution. Polygon combines a protocol and a framework for building blockchain networks, which are fully compatible with Ethereum and connected to its mainnet. Polygon was launched in 2017 and moved to its own network in 2019. The project is backed by some big names like Binance and Coinbase.
According to WalletInvestor, Matic price will grow from $1.137 to $6.272 in one year. That makes MATIC an awesome investment. The long-term earning potential is 451.63%. Predicted price for the end of 2026 is $26.595.
Answering the question about if Polygon is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.56306 with a reduction to $1.44606 by the end of 2022.
so speaking long term Matic could be a good investment but for the short term the bears are showing no signs of losing control.
Make sure to Follow and Like for more content
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice.
If you have any questions please ask
Thank you for reading.
MATIC break the support of $1MATIC Analysis:
MATIC breaks the $1 support after multiple retests. We already warned you about MATIC in previous posts. MATIC is now heading towards the major support zone from where the rally starts. The support zone is $0.75 - $0.82 area. MATIC needs to hold above $0.75 otherwise we will see a new downtrend that will lead MATIC to $0.5 or below. Good long opportunity at the support zone of $0.75 - $0.82 with a stop loss of below $0.74. MATIC may retest the $1 resistance zone in the coming days.
MATIC Hits 2 Month Low As Bears Refuse To Back Down-Matic Network falls nearly -30% the last week
-Price continued to fail at breaking mid term trend
-Support of $0.86 is holding price from further downfall
Matic Network experienced mind blowing gains throughout April & May as it nearly outperformed every other coin in its class. Unfortunately for holders, MATIC is now down nearly -70% from its ATH. The rest of the cryptocurrency market also has been failing to gain its footing as BTC seems stuck under $35,000. Once the large cap coins experience a strong breakout, a new trend will be set for the mid caps such as MATIC.
As shown in red, MATIC has been respecting a descending channel for the past month. At the time of writing, price has touched the bottom trend of this channel which has provided a bounce 3 other times. We can expect a similar bounce to be seen but if it fails to occur, MATIC may be in for much further downfall. Along with this trend line lies a major support zone of $0.818-$0.862 that price must hold above to keep it from falling further. A break below this support will likely land MATIC to low $0.70s.
Price has been rejected multiple times at a mid term trend line which is shown in black. Throughout the last month, this trend line has held price down from starting a bullish trend. Along with this line, the 100MA has been a barrier for price since mid June. MATIC must clear over its minor resistance of $0.948 to have a shot of break these two marks. If deemed successful, the chances of a bullish trend beginning become much higher.
While looking at the RSI, we can see strength has recently visited the oversold territory below the 0 value. Since then, price has made a lower low but strength has made a higher low. This has created a clear bullish divergence which might send MATIC back to its minor resistance very soon. The MACD has been consolidating below the 0 value as the histogram is hours away from ticking green which will likely start some type of upward revival.
MATIC intraday levels
Spot rate: $0.878
Trend: Bearish
Volatility: Medium
Support: $0.863
Resistance: $0.948
Matic ThingsWe could see some serious Matic movements if we break this resistance, for now its held the 0.5 fib pretty well. If you look at the Matic RSI(4h) readings you can see the we have not been this low since December 2020.
Some time in the next 6 days we will get a move.
Matic network to push up to 1.5 area! 15 percent of account 2x!Dxy has moved up since june 16th and is now ready for a pullback.
Matic network has moved downards during this period.
If dxy continues to fall there is a good chance matic pushes up here.
