#Polygon Prices Volatile; are MATIC Bulls readying for $1?
Past Performance of Polygon
Like the rest of the crypto market, Polygon is moving within a narrow range and is bearish. Therefore, while buyers stand a chance, sellers may press on and force MATIC below multi-week support. Per the MATIC price arrangement in the daily chart, support lies at $0.701.
#Polygon Technical Analysis
MATIC prices are range bound at spot rates, anchored within the September 22 bull bar despite strong opposition to the upside. Primary support is at $0.701, marking last week's lows and flashing with the 50 percent Fibonacci retracement level of the June to August 2022 trade range. Technically, traders might find loading opportunities if prices are above $0.701, targeting $0.930 in the medium term. Conversely, sharp losses below this week's low may crush bulls, initiating a sell-off towards $0.60, the 61.8 percent Fibonacci retracement of the above-mentioned trade range.
What to Expect from #MATIC?
The crypto market is volatile, and so is MATIC. There are hints of strength, but the uptrend may hold if prices exceed $0.701. This may, in turn, fan demand, lifting the coin towards $0.930 and later $1 in a buy trend continuation formation.
Resistance level to watch out for: $0.930
Support level to watch out for: $0.701
Disclaimer: Opinions expressed are not investment advice. Do your research.
Like the rest of the crypto market, Polygon is moving within a narrow range and is bearish. Therefore, while buyers stand a chance, sellers may press on and force MATIC below multi-week support. Per the MATIC price arrangement in the daily chart, support lies at $0.701.
#Polygon Technical Analysis
MATIC prices are range bound at spot rates, anchored within the September 22 bull bar despite strong opposition to the upside. Primary support is at $0.701, marking last week's lows and flashing with the 50 percent Fibonacci retracement level of the June to August 2022 trade range. Technically, traders might find loading opportunities if prices are above $0.701, targeting $0.930 in the medium term. Conversely, sharp losses below this week's low may crush bulls, initiating a sell-off towards $0.60, the 61.8 percent Fibonacci retracement of the above-mentioned trade range.
What to Expect from #MATIC?
The crypto market is volatile, and so is MATIC. There are hints of strength, but the uptrend may hold if prices exceed $0.701. This may, in turn, fan demand, lifting the coin towards $0.930 and later $1 in a buy trend continuation formation.
Resistance level to watch out for: $0.930
Support level to watch out for: $0.701
Disclaimer: Opinions expressed are not investment advice. Do your research.
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