MATICUSDTMatic ~ 1W ✅
#Matic Return to retest this request zone block. Maybe placing a small purchase here is good enough to earn a 20%+ profit in the short term.
Maticusdsignals
MATICUSD 1WMATIC ~ Updated
#MATIC Continue accumulating in this pattern.
The accumulation range is narrowing. It's only a matter of time that this pattern is successfully broken. Target is at least 20%+ for the short term
MATICUSD 1WMATIC ~ 1W
#MATIC Continuing to maintain this pattern so far. Make purchases gradually within this pattern, with a target of at least 20%+
MATICUSD 1WMATIC ~ 1W
#MATIC The movement of CRYPTOCAP:MATIC is increasingly limited in this pattern. It looks like Whales still maintain Support in this pattern.
We are still long-term bullish on #MaticUSD as long as price still maintains this support.
MATICUSD One more correction left before going parabolic!It has been a little over 2 months since our last analysis on Polygon (MATICUSD), which eventually hit our 0.7000 target (see chart below) and has now broken above the 1W MA100 (green trend-line) for the first time since March 13 2023:
As you can see on this 1W time-frame, we are about to get a Bullish Cross between the 1W MA50 (blue trend-line) and the 1W MA100. That will be the first in MATIC history but we do not expect it to create the conditions for an immediate rally. Based on the same long Accumulation Phase of the previous Cycle, the rally started after the price broke below the 1W MA50 one last time.
Once that happens, we will turn bullish on MATIC again for the long term and target the 2.0 Fibonacci extension at 5.000.
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MATICUSD Double bullish break-out.Polygon (MATICUSD) closed yesterday above the 1D MA100 (green trend-line) for the first time in 6 months. At the same time it broke above the top (Lower Highs trend-line) of the Falling Wedge pattern since February 18. The 1D RSI was already on a Higher Lows Bullish Divergence since Augst 22 so this is a technical bullish break-out for the long-term. Our target is the 1D MA200 (orange trend-line) at 0.7000.
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MATICUSD one last pull-back before the $1.80 targetPolygon (MATICUSD) has been trading and closing below its 1D MA50 (blue trend-line) since March 02. It is within a Channel Up, repeating an easily recognizable pattern every time it drops and prices the Channel's Low for the ultimate buy. Currently, there is one last pull-back leg left on or slightly below the 1D MA200 (orange trend-line) in order for the 1D RSI to turn oversold around 30.00, before the new Low is priced. We will buy this pull-back and target $1.80 on the long-term.
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MATIC on a Head and Shoulders trying to avoid disasterThe Matic Network (MATICUSD) recently established trading below its 1D MA200 (orange trend-line), closing a daily candle below it for the first time since October 20. This alone is far from ideal for buyers but the price remains within the wide 0.690 - 0.770 Support Zone that is holding since July 26.
However, we can't ignore the Head and Shoulders pattern since October 13 that has just been completed. If broken to the downside, this has the potential to drop as low as the 1.5 Fibonacci extension, which is at 0.380 with potential Support levels before that at 0.525 and 0.420.
Until the Green Zone breaks though, the price can potentially rebound back to the 1D MA50 (blue trend-line) and the 0.970 overhead Resistance. The 1D ADX indicator seems to be in agreement. A closing above the 0.5 Fib at 1.000, invalidates the Head and Shoulders pattern completely and recovers the price towards 1.300.
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MATICUSD going Ethereum 2016/17 styleThe MATIC Network (MATICUSD) has been rejected last week on the 1W MA50 (blue trend-line). In an interesting turn of events, its price action since the COVID March 2020 crash, is similar to Ethereum's (ETHUSD) price action from October 2015 to January 2017, which also got rejected on its MA50 (for better illustration we used the 4D time-frame, even though 1W fares well too). Both made the MA50 rejection after the broke above their correction Lower Highs trend-line.
What made a big difference for ETH in its January 2017 break-out and rally was the bearish reversal on the U.S. Dollar (DXY). MATIC made its October 2022 bullish break-out as the DXY has pulled-back significantly. If the fractal continues to be repeated, expect a strong rally on MATIC in 2023.
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MATICUSD Profit to be made in range as well as break-outs.Polygon (MATICUSD) has been trading within a Channel Up since the June 18 bottom and on November 05 formed its latest Higher High. Since then, it has been highly volatile following the explosive mix of the FTX (bearish) and CPI (bullish) news. This should keep the price volatile and sideways mostly within the bottom (Higher Lows trend-line) of the Channel and the (dashed) Lower Highs trend-line, a sequence that took place from the previous August 14 High until October 17.
A break above the dashed Lower Highs would be bullish towards the 0.382 Fibonacci retracement level while further break, bullish towards the top (Higher Highs) of the Channel Up. Similarly, a break below the Channel Down would be bearish, targeting the previous dashed line.
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MATICUSD Inverse Head & Shoulders can aim at 1.400!The Matic Network (MATICUSD) made a strong green 1D candle yesterday, rebounding exactly on the 1D MA50 (blue trend-line). Being a Resistance since early April, Matic has turned the 1D MA50 into a Support and is holding it.
There is the Lower Highs trend-line involved since the December 27 High but the pattern that has been developed since the bottom, is a strong indication that this time the trend-line will break. The pattern is as you see an Inverse Head and Shoulders (IH&S), which is technically a bullish reversal pattern and can target as high as the 2.0 Fibonacci extension, which is exactly at 1.400. That is even higher than the 1D MA200 (orange trend-line) that rejected the price last time in late March/ early April.
In addition, the 1W RSI broke above its MA line for the first time in 2022, indicating that this bullish move can be sustainable this time.
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MATICUSDT Emphatic rejection on the 1D MA50 for a bearish contin*** ***
For this particular analysis on MATIC we are using the MATICUSDT symbol on the Phemex exchange.
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The idea is on the 1D time-frame where MATIC got a solid rejection on its 1D MA50 (blue trend-line) on the June 25 1D candle and is pulling back towards the 0.32300 Support. The rejection also took place on the December 27 2021 (ATH) Lower Highs trend-line.
The trend has been bearish long-term within a Channel Down pattern. Even though the price action since June 18 resembles that post February 24 that did marginally break above the 1D MA50, unless we break above the Channel Down and the 1D MA100 (green trend-line), it is more likely to see a new selling wave to the 2.0 Fibonacci extension.
On the long-term, only a 1D candle closing above the 1D MA200 (orange trend-line) can restore the bullish trend with 2.0 - 2.10 as the initial target.
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MATICUSD A benchmark for the next bullish break-outI haven't posted a public idea on the Matic Network (MATICUSD) in a long time. Even though we might be 1 or 2 months away from a new parabolic rally, this analysis may serve as a benchmark to spot when you may enter buys in the market with a confirmed break-out.
As you see the price action since the May 2021 High resembles the sequence from December 2019 to December 2020. In the later stages of that sequence, the price entered a narrow consolidation pattern which broke upwards when the 0.236 Fibonacci retracement level broke. The 1D Golden Cross (1D MA50 crossing above the 1D MA200) simply confirmed the break-out that initiated a massive parabolic rally.
Right now the 0.236 Fib is at 2.452.
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MATICUSD Bullish break-out possible to $3.00MATICUSD has been trading within a Channel Up (green pattern) and Higher Lows since July 20 market bottom. It was when the MACD indicator made its lowest Bullish Cross formation and we've seen the same Bullish Cross pattern on every Higher Low contact on that Channel Up with the most recent being in the last week of November. As you see this Cross is always the beginning of a new rally within the Channel Up.
There has been a Diverging Channel Up (red lines) mostly based on Higher Highs that has an upside limit right now around 2.600 - 2.700. If that breaks, Polygon should target $3.0, which is the decelerated rise percentage since the September 05 High and also slightly below the 2.5 Fibonacci retracement level.
The price has been supported on the 1D MA100 (green trend-line) since November 16 and on the 1D MA200 (orange trend-line) since July 20. Based on the MACD, we may be at the start of a strong 1 month rally.
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