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Maticanalysis

MATIC bearish movement analysis !!Hello everyone , as we all know the market action discounts everything :) We are gonna look at a 1D chart and gonna use technical analysis tool to understand the MATIC (Polygon) movement . Matic (Polygon) seems to enter a bearish trend , the crypto has lost over -5.99% in the last 24 hours and -23.87% in the last week alone , now if we look at the 1D chart we can see that the bears are holding control over the the market price . so we are getting a big sell signal but lets use indicators to confirm this bearish movement . 1_ The market price at 0.800430 moving below the MA and the EMA ,MA at 0.952522 and the EMA at 0.933803. (bearish sign) 2_RSI reached oversold zone at 28.91 (bearish sign) we cant see a reversal yet until the RSI starting getting momentum up. 3_MACD seems to be at a negative crossover (bearish sign) I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move. Support & Resistance points : support Resistance 1_ 0.78230 1_0.86930 2_ 0.75275 2_0.92675 3_ 0.69530 3_0.95630 Fundamental point of view : MATIC is an ERC-20 token native to Polygon (formerly Matic Network), which is a Layer 2 scaling solution. Polygon combines a protocol and a framework for building blockchain networks, which are fully compatible with Ethereum and connected to its mainnet. Polygon was launched in 2017 and moved to its own network in 2019. The project is backed by some big names like Binance and Coinbase. According to WalletInvestor, Matic price will grow from $1.137 to $6.272 in one year. That makes MATIC an awesome investment. The long-term earning potential is 451.63%. Predicted price for the end of 2026 is $26.595. Answering the question about if Polygon is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.56306 with a reduction to $1.44606 by the end of 2022. so speaking long term Matic could be a good investment but for the short term the bears are showing no signs of losing control. Make sure to Follow and Like for more content This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice. If you have any questions please ask Thank you for reading.
FTX:MATICUSDShort
by GabiDahduh
Polygon (Matic) Update:Next Stop $2 at the 161.80% FibsPolygon (Matic) Update: $1.78 Target Hit. Next Stop $2 at the 161.80% Fibs. 20% Gain from current price level to $2. Next Target after $2 at $2.58, 54% Gain from the current price level. See previous analysis below. Happy Trading :) Polygon (Matic) Update 14/ 05 /21: Matic in Price discovery , our next target price $1.78 at the 227.20 Fibonacci extension . Targets Hit $1, $1.30, Next Stop $1.35 (7% Gain). With this continued momentum to the upside, it is a 43% Gain from current price level @ $1.24 to the 227.20% Fibonacci extension at $1.78. See previous analysis below :) Polygon (Matic) Update 30/04/21: Target Hit @127.20% Fibonacci level, New ATH @ $0.90 140% Gained from this parabolic move! Next Stop $1, . Polygon (Previously known as Matic) Update 27/03/2021) poised to test another New ATH @ $0.67 (15% Gain) from the current price @ $0.58. On the 25th April the 13 EMA crossed up above the 50 SMA signalling a strong buy signal, Polygon gained 70% from this parabolic move back to the ATH levels which were tested last in early March. Our next price target from here is $0.80 (37% Gain) to the 161.8% Fibonacci level. See previous analaysis below :) Polygon (Previously known as Matic) Update 25/03/2021) poised for another test of New ATH @ $0.67 (93% Gain) Polygon (Matic) poised for another test of New ATH @ $0.67 (93% Gain). From Buy Zone 1 Matic has retraced 18% and is now sitting in our Buy Zone to DCA and accumulate. If we continue to retrace to the 23.60% Fibonacci level, expect an explosive move back towards the 61.80% Fibonacci level @ $0.43 (47% Gain). Since reaching the ATH we have failed to break past the 61.80% level but a further retracement to the 23.60% should get the Bulls back in the market and we can expect to finally break through this level after 4 failed attempts from the current ATH . Huge parabolic move still on the cards here, be patient, DCA if you are already riding the wave or look to enter for a potential 93%+ Gain. See previous analysis below. Happy Trading :) Update 20/03/2021 Since reaching a new ATH @ $0.57 after a Buy signal came from our script, Matic retraced down to $0.32 and is currently sitting in our Buy Zone to re-enter Buys to DCA /Accumulate at the 38.20% Fibonacci level @ $0.35. We expect another huge parabolic move for Matic to test the previous ATH @ $0.57 and further push towards the 127.20% Fibonacci level @ $0.67 in search of a new ATH , there is a potential Gain of 93% from the current price level. Be patient use current Buy zones to enter or re-enter to DCA /Accumulate from the current price level. Current Stochastics show an extremely oversold market and we are confident Matic will be in search of new highs in the coming days. Happy Trading :) Update 20/03/2021 Nice set up from Buy Zone 1, potential test of the 50 SMA before bouncing back to the upside. #MaticUsd *Update* Matic has hit our 161.80% Fibonacci Target @ $0.58. Great buy for everyone that got in and accumulated more coins at the critical buy zone areas. Polygon (Matic) Buy Opportunity! Potential 68% Gain. Great Performance throughout the past month from Matic, this cryptocurrency is showing very strong continuation bullish momentum with HH and LL in a bullish range growing just over 240% over the past month. Matic seems to have found some resistance short-term between the 61.80%-78.60% showing indications of a weak retracement. Buy zone from current price level at 50% ($0.37) Fibonacci level for a sniper entry, but will also be looking to accumulate more coins around the 50% Fib level. Wait for price action, further confirmation from Stochastics showing oversold market before entering any Buys. Potential 68% Gain from Buy Zone 1 to 127.20 Fibonacci Level @ 0.68. The road to $1 Polygon (Matic) is clear. Use buy zones to map out your buys and DCA to accumulate more coins. What is Polygon? Previously known as Matic Network, Polygon is a framework for building interconnected blockchain networks. It seeks to address some of Ethereum’s major limitations—including its throughput, poor user experience (high speed and delayed transactions), and lack of community governance—using a novel sidechain solution. Rather than being a simple scaling solution like its predecessor Matic Network—which uses a technology known as Plasma to process transactions off-chain before finalizing them on the Ethereum main chain—Polygon is designed to be an entire platform designed for launching interoperable blockchains. Through Polygon, developers can launch pre-set blockchain networks with attributes tailored to their needs. These can be further customized with a growing range of modules, which allow developers to create sovereign blockchains with more specific functionality. Key Notes: The race is on to be the first interoperability solution to go fully live. Polygon’s proof-of-stake chain and Plasma scaling solution are live, but developers can’t yet launch their own standalone or shared security chains on Polygon until these features are released. Likewise, neither ZK-rollups nor optimistic rollups have been launched on the network, with Plasma currently the only scaling solution available on Polygon. Polygon’s rivals are also rushing to go live with their offerings. As of March 2021, Polkadot has yet to launch public parachains; and while Cosmos’ Stargate upgrade has seen the launch of its Inter blockchain Communication Protocol ( IBC ), it won’t become fully operational until IBC transactions are enabled on the network.
MLong
by CryptocurrencyMagnet
11