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MATICUSDT

#Polygon Tanks 30% in Less Than 3 Weeks, Support at $1.10Past Performance of Polygon Polygon prices more than double from January to February. MATIC rose 108% from December lows and remains within a bullish formation despite recent losses. From the daily chart, MATIC is down 30% from February peaks and likely to post even more losses in sessions ahead. #Polygon Technical Analysis Polygon prices fell over the weekend, continuing their retracement from February highs. The token now has support at the 61.8% retracement level though the uptrend remains valid. As it is, traders can find support at $1.10 with resistance at $1.30, coinciding with the 38.2% Fibonacci retracement of the December to February 2023 trade range. Any loss below $1.10, confirming losses of March 3 and 4, might see MATIC slide to $0.95, a reaction line flashing with December highs. Meanwhile, optimistic traders can wait for an expansion above $1.30 before loading, targeting February highs at $1.58. What to Expect from #MATIC? The uptrend remains bullish, but bears are pressing on. With MATIC down roughly 30% from February peaks, retesting a critical Fibonacci retracement level, traders can wait for a definitive breakout. Gains above $1.30 or losses below $1.10 will shape the short-term trend. Resistance level to watch out for: $1.30 Support level to watch out for: $1.10 Disclaimer: Opinions expressed are not investment advice. Do your research.
MShort
by Bitcoin_Analyzer
[2023-02-28] [BYBIT:MATICUSDT] [LONG]Hello fellow traders, Practice good risk management! Anything can happen. In order to make money, it is not necessary to know what will happen in the next moment in time. For any given set of variables that define competitive advantage, there is a random distribution of failures and successes. Competitive advantage is nothing more than an expression of a higher probability of the course of events developing in a certain way. Every moment of the market is unique in its own way. You alone are responsible for your trading – both gains and losses. Good luck and happy trading!
MLong
by n1d0
4
Matic holder be warned. Matic looks dreadful. Market structure shows clear distribution has already started. Entry Strategy: I’d be looking to short any push into the 1.28 resistance, HOWEVER, we might just not get that chance. Calculate your own risk/reward and take the trade if you like it. Exit Strategy: If this coin does start dumping seriously you’ll want to take profits earlier rather than later. There’s been quite a lot of fud regarding matic recently and you wouldn’t want to risk not being able to exit your position. This coin has the potential to be trading at 35 cents in the near future so be extremely careful bagholders! Will update when this starts dumping!
MShort
by Crypto_Sweat