MATIC ~ 1W
#MATIC The movement of CRYPTOCAP:MATIC is increasingly limited in this pattern. It looks like Whales still maintain Support in this pattern.
We are still long-term bullish on #MaticUSD as long as price still maintains this support.
It has been a little over 2 months since our last analysis on Polygon (MATICUSD), which eventually hit our 0.7000 target (see chart below) and has now broken above the 1W MA100 (green trend-line) for the first time since March 13 2023:
As you can see on this 1W time-frame, we are about to get a Bullish Cross between the 1W MA50 (blue trend-line) and the 1W...
Polygon (MATICUSD) closed yesterday above the 1D MA100 (green trend-line) for the first time in 6 months. At the same time it broke above the top (Lower Highs trend-line) of the Falling Wedge pattern since February 18. The 1D RSI was already on a Higher Lows Bullish Divergence since Augst 22 so this is a technical bullish break-out for the long-term. Our target is...
Polygon (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...
The Matic Network (MATICUSD) recently established trading below its 1D MA200 (orange trend-line), closing a daily candle below it for the first time since October 20. This alone is far from ideal for buyers but the price remains within the wide 0.690 - 0.770 Support Zone that is holding since July 26.
However, we can't ignore the Head and Shoulders pattern since...
The MATIC Network (MATICUSD) has been rejected last week on the 1W MA50 (blue trend-line). In an interesting turn of events, its price action since the COVID March 2020 crash, is similar to Ethereum's (ETHUSD) price action from October 2015 to January 2017, which also got rejected on its MA50 (for better illustration we used the 4D time-frame, even though 1W fares...
Polygon (MATICUSD) has been trading within a Channel Up since the June 18 bottom and on November 05 formed its latest Higher High. Since then, it has been highly volatile following the explosive mix of the FTX (bearish) and CPI (bullish) news. This should keep the price volatile and sideways mostly within the bottom (Higher Lows trend-line) of the Channel and the...
The Matic Network (MATICUSD) made a strong green 1D candle yesterday, rebounding exactly on the 1D MA50 (blue trend-line). Being a Resistance since early April, Matic has turned the 1D MA50 into a Support and is holding it.
There is the Lower Highs trend-line involved since the December 27 High but the pattern that has been developed since the bottom, is a strong...
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For this particular analysis on MATIC we are using the MATICUSDT symbol on the Phemex exchange.
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The idea is on the 1D time-frame where MATIC got a solid rejection on its 1D MA50 (blue trend-line) on the June 25 1D candle and is pulling back towards the 0.32300 Support. The rejection also took place on the December 27 2021 (ATH) Lower Highs...
I haven't posted a public idea on the Matic Network (MATICUSD) in a long time. Even though we might be 1 or 2 months away from a new parabolic rally, this analysis may serve as a benchmark to spot when you may enter buys in the market with a confirmed break-out.
As you see the price action since the May 2021 High resembles the sequence from December 2019 to...
MATICUSD has been trading within a Channel Up (green pattern) and Higher Lows since July 20 market bottom. It was when the MACD indicator made its lowest Bullish Cross formation and we've seen the same Bullish Cross pattern on every Higher Low contact on that Channel Up with the most recent being in the last week of November. As you see this Cross is always the...
