Polygon Analyze (Road Map, 03/14/2023)!!!🗺️Today let's take a look at Polygon project 🗺️roadmap🗺️ in daily time frame.
First, let's take a look at the fundamental.
Fundamental :
Polygon is a layer-2 scaling solution for Ethereum which aims to address the scalability issues on the Ethereum network by providing faster and cheaper transactions. Polygon utilizes a network of sidechains to enable fast and secure transactions, allowing users to transfer assets between Ethereum and other networks.
Polygon has a strong development team that is dedicated to improving the network and expanding its capabilities. This is evidenced by the frequent updates and upgrades to the network that are aimed at improving its scalability, security, and functionality.
It also has strong partnerships with notable players in the blockchain industry, such as Aave, Curve, and Chainlink, which increases its credibility and reputation.
Overall, the combination of strong partnerships, a dedicated development team, and impressive growth make Polygon a promising project in the blockchain industry.
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Technical :
It seems that Polygon has started to form a zigzag correction(ABC/5-3-5) after completing its 5 impulse waves in the 🔴resistance zone($1.488-$1.249)🔴, so that wave A has ended on the important uptrend line.
💢Currently, the Polygon is moving in the Time Reversal Zone (TRZ) and near the resistance zone.
💢Polygon can also form the fan principle at top pattern.
💢In addition, the sell signal is created by the 50-SMA and 50_EMA.
💢The RSI indicator is also rejected from the 50% line and above the descending channel.👇
🔜I expect the Polygon to decrease to the 🟢support zone($0.77-$0.69)🟢after the important uptrend line breaks.
Polygon Analyze ( MATICUSDT ) Daily Time frame⏰.
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Polygonusdt
Polygon: a bright future or forgotten technology? Polygon is the first Layer 2 blockchain. The initial placement of the project took place on April 24 2019, on the Binance Launchpad platform and two years later, on December 27, 2021, an ATN of 2.92 USDT was reached.
Project development dynamics
For several years, the project was for the most part, if not in oblivion, then in the shadow of other similar and all sorts of "killers of Ethereum". The project reached a wave of success in 2021, having caught the eye of large public investors and built partnerships with popular brands. In May and June 2021, Polygon received support from billionaire investor Mark Cuban, who revealed plans to integrate his NFT Lazy.com platform with Polygon. To date, Polygon has various partnerships with:
Adobe Behance
DraftKings
Alan Howard's hedge fund, to develop Web3 projects
Stripe launched global cryptocurrency payments through Polygon.
Fashion brands: Adidas Originals, Nike, and Prada have launched NFT collections on Polygon.
Instagram is also partnering with the project at NFT.
Polygon is partnering with Niger to develop a blockchain ecosystem for the country's future.
Aave, Curve.Fi, Decentraland, Sandbox, OpenSea and Uniswap have chosen Polygon as their scaling solution.
Polygon has partnered with Salesforce, which delivers customer relationship management (CRM) software.
Citigroup published a report in April 2022 describing Polygon as AWS
Web3. It is claimed that the Metaverse economy, by 2030, will reach $13 trillion, with much of it developed on the Polygon network. Citigroup also believes Polygon will become widespread because of its low transaction fees and developer-friendly ecosystem.
A report from blockchain analytics company Messari, showed that in the third quarter of 2022, the number of active MATIC addresses increased by 180% in the second quarter, and the total number of transactions for the quarter was 2 billion.
In 2023, despite the market correction, the project has made significant strides, both in development and partnerships. In the last couple of weeks, partnerships have been reached with Google Cloud and Franklin Templeton to tokenize large-scale financial products for its DeFi, etc.
Sotheby's, which accounts for 24% of the world's art auction sales, announced that its trading floor has launched on Ethereum and Polygon.
Polygon's GitHub has recorded a significant increase in the number of code commits and the number of kernel developers since early May.
Recent technical news for the project has been the launch of Polygon zkEVM, a zero-disclosure scaling solution equivalent to the Ethereum virtual machine. This means that most existing smart contracts, developer tools, and wallets will be able to work seamlessly. Polygon zkEVM leverages ZK proofs to reduce transaction costs and increase throughput while keeping Ethereum secure.
Polygon launched three updates on May 3 to make it easier for developers to integrate decentralized identity into dApps: new features in Polygon ID infrastructure tools that include improved integration, UX, and a host of new tools to help developers who build dApps.
A new issuer node interface that will make it easier to set up, manage and work with the issuer node. In addition, push notification support is provided in the mobile SDK and in the app reference implementation.
Developer tools and updates such as JWZ Validator, Polygon ID smart contract deployment on the core network and the recently announced PolygonID DID resolver.
Outlook for Matic
Today, the L2 solutions niche is actively filling and expanding, with projects and their ecosystems competing with each other for developers and users to form a better L2 ecosystem.
Matic's direct competitors, Optimism and Arbitrum, launched in mid-2022 and March 2023. These projects, as well as Matic, aim to make transactions cheaper and increase throughput. After the release of these projects, Matic actively began to lose the volume of transactions within the blockchain and the number of unique active addresses.
Zero Knowledge-based projects zkSync and StarkNet are currently being prepared for release and will also be in the L2 solution race.
Matic lost its unique advantage of being the only project with the best user experience and now the project team is looking to create partnerships with established web2 businesses and prepare projects for mass adoption. Only with these products, Matic will be able to regain its dominance amongst the other L2 solutions.
At the moment, the price of Matic is approaching the key support zone of 0.78-0.68. Potential zones for growth are shown on the chart in terms of historical analysis.
Polygon MATIC price beckons to buy, but where?)Exactly 3 months have passed since the publication of the idea with our global vision of possible movements of the MATICUSDT price.
The first part of the idea has clearly worked out the $1.50 target, and the second part of the idea with a correction to $0.5 now looks unlikely.
It is more realistic to assume that the "buyer" who did not allow the MATICUSD price to fall below $0.70-0.80 during the second half of 2022 will not allow this to happen in the near future.
Therefore, we consider the $0.70-0.80 zone to be ideal for buying MATIC into the medium- and long-term portfolios with the first take profit not earlier than $2.50
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Polygon (MATIC) formed bullish Gartley for upto 91% rallyHi dear friends hope you are well and welcome to the new trade setup of Polygon (MATIC) with US Dollar pair.
Previously I shared a long-term trade setup for MATIC which produced more than 246% rally as below:
Now on a weekly time frame, MATIC has formed a bullish Gartley pattern for the next price reversal.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Polygon [MATIC] will see more sell pressure below $0.9780Price action faced rejection at the bearish OB on the 2-hour chart at $1.0140 and dropped to bullish OB at $0.9854 (cyan).
A close below the support (cyan) and confirmed downtrend could push MATIC to $0.9515 ( a bullish OB on the daily timeframe).
The RSI and OBV dipped - buying pressure eased. But RSI was in a neutral position.
Entry: $0.9780 (below bullish OB)
Exit/target: $0.9515 (lower support)
Stop-loss: $0.9865 (above the bullish OB)
R:R - 3
Polygon aka Matic nice uptrend hey everyone,
Polygon is in nice constructive uptrend direction... it may or may not pull back to strong support trendline because its currently consolidating at the point where it is... Previous high was 1.55 approx... next high is 1.72... this year the polygon may break its previous high of $3 if crypto market remain bullish till end of this year... the lowest it can go is 0.98-1.00 since price is above 200ma.. the price may retest the 200ma if market crashes
good luck ...
MATIC Pattern in Weekly TimeframeMatic seems to be remaking the pattern it did before 2021 on the weekly timeframe. The final fix will be the last buying opportunity for me. It is clear that the correction will come up to the 40-week moving average.
MATIC is under bearish controlMATIC is so different from the whole market. However, it's also in a bearish state. but keep in mind that in case of any consolidation (of the bearish movement), MATIC will have a stronger move and will catch the green zone. then it (and the market) will continue the downtrend.
its best timeframe to daytrade is 15min. only open short in market demand saturation.
MATIC: Approaching SupportPolygon (MATIC) technical analysis:
Trade setup : Price was rejected at $1.60 resistance and pulled back near $1.00 support, which could be an attractive swing entry. Momentum is inflecting bullish again (MACD Histogram rising).
Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance : Nearest Support Zone is $1.00, then $0.75. The nearest Resistance Zone is $1.30, then $1.60.
What will happen to MATIC after leaving the $1 penny Crypto areaWhat will happen to MATIC after leaving the $1 penny Crypto area❓
The Renko Chart shows that Polygon is at an important support line🟩
Chances for a bullish breakout confirmation are good IMO🚀
Let me know your thoughts in the comments🤗
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Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
$Matic - End of PUMP Era - Retest $0.3Matic printing BEAR FLAG pattern just like $BTC did Jan-Apr 2022 (TERRA LUNA COLLAPSE)
POLYGON had already gone through big announcements and finally Sell the HYPE?
And ARBITRUM taking the edge over POLYGON
Complacency Phase. Expecting New All Time Low
MATIC trade setup The idea is: Buy when the price breaks above 1.535$ and take profits at the levels shown in the chart.
Targets:
1. 1.56$
2. 1.62$
3. 1.68$
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What's a Fair Value Gap (FVG) ?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
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What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern in the event of failure.
3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Polygon MATIC price will double or halve its value in few monthFinally, altcoins have started their upward movement, most of the ideas we have published on different coins over the past 2–3 weeks are in the process of working out the targets.
But the MATICUSDT price did not grow much on the crypto market in the last few days. In fact, the MATIC price was one of the first to break out of the downward trend in the summer of 2022 and has been in a protracted consolidation since then.
The way out of such consolidation will be a powerful impulse movement that will double the value of the Polygon token or halve it.
Therefore, it is very important to monitor the behavior of the MATICUSDT price around $0.75.
Another holding of the price above this level will increase the chance of starting growth to $1.50 per MATIC
However, if sellers can easily push and fix the price below $0.70-0.75, then this will be a signal that keeping MATIC in your portfolio may be unprofitable. After all, because of such conditions, an almost unobstructed path will open for the price to fall to 0.44
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MATIC/POLYGONIm Expecting price to go lower.
Trade base on your own decissions.
Come and check me out for more
MATIC: Approaching ResistancePolygon (MATIC) technical analysis:
Trade setup : Following a bullish breakout from Sideways Channel ($0.75-$1.00), trends have reversed to Uptrend and price is near another major resistance zone at $1.30. wait for price to 1) break above $1.30, or 2) pull back near $1.00-1.10 support for swing entry.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $1.00 (previous resistance), then $0.75. The nearest Resistance Zone is $1.30.
POLYGON MATIC SHORT TRADE Heres a Quick SHORT SETUP
entry - 1.1718
stop-loss 1.922
Take profit 1.112
MATIC - Long scenarioThere are possible scenarios for matic to move upward.
targets are on the chart and keep in mind that any position you open, should have stoploss on 0.7. design your position with this SL and a good risk/reward.
in the green zone, we might have very low momentum, but as daily MACD gets above 0, it will jump.
all the idea will expire after getting lower than 0.7
MATIC GONNA EXPLODEHidden bullish div on MFI. MFI is forming a falling wedge which will explode upside.
Feel free to comment your opinion.
Polygon: Holy Poly Guacamole 🥑Let's show 'em how it's done! Polygon continues to spike up and should exceed the resistance line at $1.30, if it carries on with its bullish temper. Our alternative scenario implies, that MATIC could drop below the support line at $0.689 until it reaches the end of the blue wave alt. (ii).
Polygon Long TermJudging by the moving averages on the weekly timeframe, closing the week below $0.75 will pull us to the level of $0.62. Conversely, staying above the $0.90 resistance is essential for a sustained rise to start. Closing this week with a green candle could target the $0.90 resistance.
Polygon (MATIC/USDT) Poised to hit $1 SoonBitcoin price has been largely bullish since the beginning of 2023 and after recording a series of bullish candles, the bulls apparently look exhausted. It appears that the price corrections are just to attract more liquidity over the platform which is more required to uplift the price to reach the desired target of $20,000 very soon.
In the meantimes some of the altcoins including Polygon(MATIC) are preparing to lay down a firm upswing. To be specific, the MATIC price is believed to rise high beyond $1
The MATIC price currently displaying immense strength as it is about to accomplish a parabolic recovery to reach the neckline of the consolidation.
After reaching the resistance, the price may witness a significant pullback to the lower support around $0.84 and ignite a notable upswing towards the interim resistance at $0.91
Here the bulls are required to hold their strength which may propel the price higher above the crucial resistance at $0.95 which may in turn uplift the price beyond $1
Polygon MATIC Price Targets for this weekThis week I predict another selloff in the stock and crypto market after the CPI report on January 12.
My price targets for Polygon MATIC are:
MATIC/USDT short
Entry Range: $0.84 - 87
Take Profit 1: $0.74
Take Profit 2: $0.61
Take Profit 3: $0.56
Stop Loss: $0.98
