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MATICUSD trade ideas

#Polygon #Matic long ideaHello dear Traders, Here is my idea for #Polygon Price finds support at monthly pivot line. Daily inside bar has been formed and we will wait for a close above the yellow trigger line (0.8170$) in the 4h chart to enter the trade. Profit target 1.1470$ and stop 0.6980$. Risk Reward ratio 2.7 Please feel free to ask any question in comments. I will try to answer all! Thank you. About #Polygon Rank 12 by marked cap Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness. The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance Source: Polygon price today, MATIC to USD live, marketcap and chart | CoinMarketCap About Pivot Lines The term monthly indicates that the pivot levels are calculated using the prior month’s high, low and closing price. The basic formulas are now well-known and pivot calculators are readily available on Tradingview. If a market closes above the monthly pivot, then the trend is positive, and closing below the pivot is negative. In a positive market, you look for prices to pause, or maybe even reverse, at the first pivot resistance level (R1). If that level is exceeded, then the R2 is the next level to watch. Conversely, when a market drops below the monthly pivot, then the first downside target is the first pivot support (S1), and the second support is S2. Source: Learn How To Use Monthly Pivot Analysis (forbes.com)
COINBASE:MATICUSDLong
by Diplo_Trades
1
Matic - Going Long HereI think Polygon is going to have a large part in the next phase of ethereum and maybe crypto at large, so I've been looking for an entry into MATIC. Well here's my entry. Bitcoin pulled back hard today, and brought all the coins with it. I'm seeing Matic finalizing it's downtrend, with an overselling event, which brings prices to the bottom of the yellow range. That should be a strong support level, to finalize the last 2 legs of this summer's rally. I may take profits there, depending on the macro.
COINBASE:MATICUSDLong
by mo_diggity
2
MATIC-USD (Daily)1. Price Action - Omega Trend: BULLISH - Flow: BULLISH (recent retest of signal line = me likeyyyy) - Deviation: BULLISH (heating up a bit though) 2. Technical Analysis - Breakout of the EMA20 : BULLISH (although we might retrace to grab liquidity) - Close local resistance: BEARISH (usually short term though) 3. News - Rising TVL score: BULLISH - Meta NFT Partnership: BULLISH - Coinbase support: BULLISH 4. Moon Score 7/8 (BULLISH) Two Scenarios: 1. We break local res to 1.08-1.10 then correct to current price around 1.02-1.04, then moon!!! 2. We retrace to 0.98-0.96 to liquidate some leverage longs then send it back to 1.10 and beyond….
FTX:MATICPERPLong
by kronos-algo