Polygon: Exemplary 🤓Quite commendably, Polygon has advanced into our magenta-colored target zone between $0.78 and $1.02 and has touched at the lower edge of the pink trend channel to finish wave (iv) in blue. Now, we expect the altcoin to gain strong upwards momentum to haul itself up, leaving the magenta-colored zone on the northern side and developing wave (v) in blue, which should end in the top of wave (i) in magenta. Wave (ii) in magenta should then make for a distinct counter movement before wave (iii) in magenta should take Polygon further upwards.
MATICPERP trade ideas
MATIC Weekly Broadening wedge to $2.00 TargetZig Zag along well formed Broadening Wedge looks like we are at a pivot right here with a 12345 wave to $2
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.
AWW🥹 IT'S FORMING >>MATIC<<A BABY EMA IS FORMING ON MATIC. IT'S SO CUUUUTE🥹🥹
YES, YES TOTALLY BUGGING... BUT THIS IS WHAT HAPPENS WHEN ONE STARES TOO LONG AT CHARTS.
ONE THING ABOUT CRYPTOCURRENCY IS THE FACT THAT THE ASSETS ARE SO YOUNG (EVEN THOUGH THE CONCEPTS HAVE ACTUALLY BEEN WORKED ON IN THE BACKGROUND FOR DECADES <<MORE ON THAT LATER.
Seeing a little EMA budding on longer timeframe made my day. Shorter timeframes always have EMA's, but long term EMA's take f-o-r-e-v-e-r to form.
So happy to see a sprout 🌱.
As always, take care.
#25Sigma
Butterfly Harmonic Reversal + Complete Elliot Wave CorrectionSee Chart.
Lots of reasons to be cautious about remaining short.
The 26 day kihon suchi cycle - measurement shows 27 only b/c the count starts with 1, not 0 - is very prominent w/ this crypto.
AutoMatic...Matic not far off from going full auto - L2 narrative is a strong one and the Matic ecosystem is a thriving one - send it.
WYCKOFF REDISTRIBUTION SCHE... MATICThe bump and run scenario is working perfectly. It also matches very well with a Wyckoff redistribution schematic.
The road could be bumpy, but the target will be reached I think.
$POLY primed to flyPolygon has been trading in this channel since June of last year. It's near the bottom of the trend line, which happens to coincide with the 200MA on the daily chart. With all the bullish sentiment around Polygon, and large projects moving their ecosystems onto the chain, I'd expect to see a nice bounce towards the middle of the trading channel; followed by an opportunity to exit with a ~40% gain from current prices in the highlighted box.
Out at or above $1.50 sometime in April, ez gg - NFA.
Matic - Trade ExitTraders,
As explained in the video I just released, this recent crypto price action up all simple appeared to be a bull trap. I was growing more and more bearish as I did my video and indeed, by the time the video was ended, I felt it was time to capture my meager profits in MATIC for another very small win and get out! As it was the drop happened so fast, I was barely able to do that.
I will NOT be looking to enter back into any trades until BTC does as I have been expecting it to do (retest that neckline at 25.3k - see vid for more), or until we start to capture some new pivot highs. Until then, alts will probably just follow the big dawg (BTC) down.
Best,
Stew
Matic 🛤️ Break + Retest 1.0069?Looks Like we can continue the Bearish momentum here back down to yesterday's low at .9792 and beyond to our next daily level at .9755.
Matic Polygon did a faekout yesterday above 1.0227. It returned back into the range, then to the bottom of the range then did a break and retest of the daily level on the 30m TF. Left a very large wick rejection and off we go onto the next zone at .9755. We have bounced but I can observe a retest of the low with momntum left over from earlier.
[polygon] by elo.The odyssey of Matic (Polygon) commenced at a mere 0.0025, back in 2019.
It ascended in what appears to be an impeccable 5-wave sequence, reaching an impressive 2.9255 at the peak.
Remarkably, it is one of the few tokens in this pervasive bear market that has not experienced any significant deterioration.
Such a characteristic could be construed as exceedingly bullish—
or,
merely an elongated phase of distribution preceding the eventual re-accumulation phase.
---
I admonish any prospective investor in this coin,
as it may undergo a substantial depreciation once Wave B has concluded later this year.
---
A conservative estimate for Wave C's termination resides within the 0.08-0.1 vicinity—
however,
it is more plausible that it descends into the 0.03-0.05 region,
signaling the ultimate capitulation phase of the bear market.
👇
Subsequent to this event,
I envision Matic soaring to a minimum of $15.
---
Wave B target = 2.22
Wave C target = 0.03
✌
Trade Alert - Long MaticTraders,
You guys know I have been dreaming of a touch on our MATIC May 2021 ascending trendline for months now. Today we got that. And though I missed the .98 cents touch for a buy in, I did get in at a dollar. My target will be at least that $1.53 cents level. Stop out is hard. But I wouldn't want to see anything much lower than that .87 cent level I have marked.
Best to you all,
Stew
Polygon 🛠️ Holding 1.0159 ? Will We continue our uptrend on HTF's? IDK we will have to see if price ( 1.0159 ) Daily level
will hold or we may fall into the depths below, the abyss. I can our next short targets being ( .9760 ) 4hr Level
and ( .9382 ) Weekly level. I can see a short term range being created here to build up more liquidity to go to the upside. The prices for the range may be between 4hr zones ( 1.0069 and 1.0539 ) before seeing more upside as bulls gather liquidity.
MATICUSD (1H) - Bearish breakoutHi Traders
MATICUSD (1H Timeframe)
The market is in a downtrend and we are waiting for an entry signal to go SHORT below the 1.095 support level. Only the upward break of 1.127 would cancel the bearish scenario.
Trade details
Entry: 1.095
Stop loss: 1.127
Take profit 1: 1.076
Take profit 2: 1.045
Score: 6
Strategy: Bearish breakout
polygon making bilateral trianglematic/usdt is printng symmetrical triangle on daily time frame as there is no divergence price is likely to breakout we can place both sell stop and buy stop
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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Bitcoin Tags the 30k Mark! What does this mean for alts?Traders,
Both BTC and BTC dominance are into extreme resistance areas. We're going to talk about what this means for both bitcoin and the rest of the altcoin space.
Stew
$MATIC looks bearish for the long term$MATIC looks bearish for the long term 📉💸 #cryptocurrency #analysis #MATIC
Trade Alert - Long MaticTraders,
I'm OoO and operating completely from my mobile phone rn. But couldn't help but spot this beautiful bull Flag on matic which has exited to the top side of a descending tl and after touching our 100 day ma. I'm hoping to hold this trade to the 50 day (currently $1.19) and to a level above that at $1.32
Stew
MATIC - My long term roadmap
In my primary count, I´m considering Matic´s bottom was defined last year, and we are now in an impulse to the upside.
This scenario invalidates at 0.747.
The bearish argument would be that the upside movement is a bear flag, but price action still hasn´t given us indications towards this.
