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MATIC Nears Crucial Support Level: Key Insights and Triggers🔍MATIC (Polygon) is approaching a critical support level. Here's an in-depth analysis to guide your trading decisions. 📆Coin of the Day: MATIC (Polygon) About the Project MATIC is a layer-2 scaling solution for Ethereum, known for its low transaction fees and extensive use in the DeFi space. 🧩Technical Analysis 4-Hour Timeframe This analysis focuses on futures trading, highlighting multiple scenarios. 📉Support and Resistance: The price has reached the bottom of its consolidation range, with key support at $0.6449. A confirmed break below this level could signal further downside. The immediate resistance levels are at $0.6676 and $0.7491. 📈Bullish Scenario: If MATIC can hold above the $0.6449 support level and Bitcoin stabilizes, a potential bounce could occur. Key resistance levels to watch are $0.6676 and $0.7491. A break above these levels would indicate renewed bullish momentum. 📉Bearish Scenario: Bitcoin has recently been rejected from a significant supply zone, contributing to MATIC's decline. A break below $0.6449, confirmed by a retest, could lead to further downside, with the next support level at $0.5057. 📊Volume and RSI: Volume has been decreasing overall, except for a significant sell-off candle recently. The RSI has broken down, indicating bearish momentum. Key RSI levels to watch are 24.46 and 23.29 for potential oversold conditions. 💡Key Triggers: Monitor the price action around the $0.6449 support level. A break and retest of this level could provide a clear signal for further downside. Conversely, a hold above this level, coupled with stabilization in Bitcoin, could trigger a potential bounce. 👨‍💻Trading Positions Long Position Entry Trigger: Hold above $0.6449 with confirmation from RSI and volume. Strategy: Open a position on the hold of this level, targeting $0.6676 and $0.7491. Use tight stop-loss orders to manage risk. Short Position Entry Trigger: Break and retest below $0.6449. Strategy: Open a position if the price confirms a break below this level, targeting $0.5057. Adjust stop-loss orders accordingly. 📝MATIC is testing a crucial support level, with significant implications for future price movements. Traders should monitor key levels and triggers for potential entries and exits. Volume and RSI indicate bearish momentum, while support at $0.6449 is pivotal. 🧠💼Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
5
MATIC - The one token to avoid in 2024Last year I wrote the idea: “MATIC - The one token not to hold in 2023” It was not a popular opinion. Link to idea below. At the time price action was at 97 cents. Down 13% currently in what was arguably one of the most bullish years for markets those past 30 years. What of 2024? Nothing good. A weekly death cross is almost certainly going to print by the month of February. A weekly death cross does not mean price action shall correct immediately, however it is a strong indication of a continuing trend. At the same time a bearish divergence can be seen as price action appears to recover broken market structure. The 3-day chart below shows this divergence more clearly. Is it possible price action continues upwards and onwards? Sure. Is it probable? No Ww 3-day chart negative divergence
by without_worries
12
Polygon (MATIC) Polygon 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. the Matic price has recorded more than 10% gains in the last seven days despite the broader crypto market’s sluggish conditions plus matic has been gaining daily active addresses (DAA) during this bullish price action. DAA figures spiked by over 60% in the span of just a few days. Onchain data also highlighted that over the last seven days, new addresses jumped by 12% while active addresses noted a 19.98% uptick. usdt pair looks good but btc pair looks even better and in short period of time matic can hit 0.9 , 1.1 , 1.3 and 1.5 dollar.
Long
by moonypto
12
MATIC/USDT A successful breakout the resistance will be bullish!💎 Paradisers, MATIC is indeed displaying intriguing movements that warrant close attention. 💎 Currently, in the accumulation phase, MATIC has shown resilience by bouncing when it reached the demand area around 0.696 to 0.675. This suggests a potential continuation of the upward movement, aiming to confront the resistance of the accumulation phase. 💎 If MATIC successfully breaks above the resistance at 0.77, it could signify a bullish momentum, potentially leading to significant upward movement with the target set at the supply zone around 0.91. 💎 Breaking above the supply zone is essential for reinstating a bullish trend in the mid-term and could pave the way for reaching our target strong resistance area. 💎 However, if MATIC faces rejection at the resistance area, it may retreat to retest the demand zone, or even descend further to the strong support area around 0.631. Historical data indicates that MATIC tends to bounce back upward when reaching this strong support level. 💎 The bullish scenario would be invalidated if the daily candle closes below the strong support area. In such a case, there's a possibility of further downward movement and deeper dips in price. MyCryptoParadise iFeel the success🌴
by MyCryptoParadise
MATIC polygon analysisThere was a fall alert from about $1.20 because btc said so. I assumed that, you didn't know that? Then I know you didn't follow my btc analysis. Matic tells us what the market situation of other coins will be in the near future. A 30% drop is not surprising, we exist in a pyramid scheme, this is normal. My real giga deal is point c, not the giga level in the analysis. If this level is reached, it is perfect. btc decides where point c lands!! I could be wrong, but it could be absolutely true
by MoralDisciple
MATIC - Ranges overview Here is a quick look into what I will be looking at on MATIC We are currently trading below the ranges lows. In comparison to other trades this is a long term trade and PATIENCE is KEY IF we reclaim and hold 0.75$ expect us to hunt the buyside liquidity resting around 1.1710$ IF we fail to break and hold above 0.75$ expect us to trade back towards the sellside liquidity resting around 0.5835$ Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
by Patrick2707
MATIC/USDT Ready For a Bullish Reversal the Key Support💎#MATICUSDT is navigating an ascending channel and is currently poised to retest the channel's lower support. We anticipate that the support at $0.674 will hold and set the stage for a bullish reversal that could reach the channel's upper resistance. 💎However, if #Polygon fails to maintain the $0.674 support and breaks below, this could signal an extended downward trend. The subsequent critical demand zone at $0.630 is vital to watch, known for its strong liquidity and history of catalyzing significant upward movements. 💎On the other side, if CRYPTOCAP:MATIC revisits this demand zone, securing a strong rebound is essential to sustain support. Failure to rebound could intensify bearish momentum, worsening market sentiment, and potentially leading to further price declines. 💎Stay alert and ready to adapt, Paradisers. Your ParadiseTeam is vigilantly monitoring and prepared to guide you through the volatile dynamics of the #MATIC market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
#MATIC, Bull run going to start soonWelcome, Trader. Welcome to our cryptocurrency community! 🚀We are delighted to welcome you, whether you are an experienced trader or a newcomer to cryptocurrency. We are going to discussing #MATICUSDT 💹 #MATICUSDT 🔥🚀 --------------- Update: #MATIC moving in a consolidation phase over a 8 Hr time frame 👉✅. In case of successful Breakout, We are expecting a minimum of 25% 💰 very soon Crypto Analyst Hub #crypto #cryptocurrency #bitcoin #ethereum #blockchain #btc #cryptotrading #cryptonews #eth #cryptocurrencies #nft #bitcoinnews #bitcoins #trading #bitcoinmining #forex #binance #cryptoart #nfts#trading #forex #trader #investing #stocks #forextrader #stockmarket #daytrader #forextrading #invest #bitcoin #daytrading #cryptocurrency #crypto #investor #investment #forexsignals #nse #chartpattern #cedarforex #candlepatterns #learntrading #bseinstitute #shorttermtrade #bankniftytrading #stockmarketph #calloptions #mqlsignal #futuretrader #tradingmemes #chartpatterns #tradingview #tradinglife #tradinglifestyle #tradingstrategy #tradingtips #tradingplan #tradingsignals #tradingaccounts #tradingsignal #tradingforex #tradingsync #tradingroom #litecoin #ethereum #bitcoincash #cryptocurrencies #ripple #btc #bitcoinnews #bitcoinmining #blockchain #eth #bitcoin #bitcoins #coinbase #cryptocurrency #crypto #bitcointrading #dogecoin BTC ETH USDT PEPE DOGE ALT
Long
by CryptoAnalystHub
Will MATIC move towards $1.6Altcoins with small capitalization (young/new) have already made huge increases in the bull market, and what about altcoins with larger capitalization? The boom doesn't apply to them? I present to you possible growth scenarios with potential key places for continued growth. The first scenario assumes increases after repeating the 1:1 black correction, i.e. wave 2 as wave 4. The condition is that the price will rise above 1.54usdt. The second scenario is a flat ABC correction, where the condition is that the price increases to the red zone without breaking the top of wave 1 and falls to the green zone as wave C, ending the correction, after which I assume increases. Regards.
Long
by cryptodailyuk