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Matic

Inverse Cup and Handle - A Bearish Signal 🚫🐻There's a notable pattern emerging on the MATIC (Polygon) weekly chart that's raising eyebrows – an inverted Cup and Handle. This pattern is not to be taken lightly, as it signifies a strong bearish signal. If traders are considering short positions on this coin, they should watch for a retest of resistance and set their stop-loss orders above the pivot level. 📊 The Inverted Cup and Handle: A traditional Cup and Handle pattern is usually a bullish indicator, but when inverted, it takes on a bearish connotation. In the crypto world, this pattern is a warning sign that suggests a potential price drop. 🚫🐻 Timing the Entry: For traders looking to enter short positions on MATIC, patience is key. Wait for a retest of the resistance level before considering entry. This retest can confirm the strength of the resistance and provide a better entry point for short positions. 📉 Setting Stop-Loss: Risk management is vital in trading. If entering a short position, set your stop-loss orders above the pivot level. This strategy helps limit potential losses if the trade doesn't go as planned. 💼🛡️ Final Thoughts: The crypto market can be highly unpredictable, and technical patterns like the inverted Cup and Handle can provide valuable insights. However, it's essential to approach trading with caution and a well-thought-out strategy. Traders should also stay informed about MATIC's fundamentals and any market news that could influence its price. Bear in mind that trading in cryptocurrencies carries inherent risks, and it's essential to perform thorough research and use prudent risk management techniques. ❗️Get my 3 crypto trading indicators for FREE❗️ Link below🔑
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by AlexWhale
6
MATIC Faces Rain 🌧️, Next 24 Hours Bearish Cloudy ☁️, rainy 🌧️, and even stormy ⛈️ trading conditions lie ahead in the next 24 hours. This translates into a bearish market with downside risk for cryptocurrencies. Particularly Polygon, Ether, Cardano, and Polkadot may come under pressure. Over a one-week horizon, the bearish trend will continue to linger over the crypto universe with Bitcoin being the notable exception. Slightly bullish sun ☀️ will shine over the world’s largest cryptocurrency with a possible upside in its price over this longer time horizon, ATTMO forecasts show. Follow us for more crypto weather reports!
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by ATTMO
MATIC/USDT 1DIntervalI invite you to review the MATIC chart. As we can see, the price dropped below the blue EMA Cross 200 line, thus returning to the strong downtrend. However, here, after marking the downtrend channel, we can notice that the price breaks out of it sideways, which may have a positive impact on it and may translate into a change in direction. When we unfold the Fib Retracement grid, we can see that the price has returned and remains in a very strong support zone that starts at $0.58 and continues up to $0.31. Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that there was a strong rejection of the price from the zone from $0.74 to $0.90, but when the price breaks it, it will have an open path towards the second zone from $1.15 to $1.33. The CHOP Index indicates that the energy is gaining more and more strength. However, the STOCH and RSI indicators show a visible recovery with room for the price to drop to a lower level.
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by cryptodailyuk
MATIC Bullish 24-Hours and One-Week Horizon ☀️Bearish clouds ☁️ weigh on the global crypto market in the next 24 hours, signaling a downside risk. However, Cardano, Avalanche and Polygon face more lenient trading conditions, with ATTMO indicating some slightly bullish sun. ☀️ Over a one-week horizon, this slightly bullish sun is set to shine over both major cryptocurrencies – Bitcoin and Ether. ☀️ This upward trend is forecast to be even stronger for Cardano, Avalanche and Polygon. Other coins, including Litecoin, Ripple, Binance Coin, Dogecoin and Polkadot won’t profit from this sun and will continue to face slightly bearish clouds. ☁️ Follow us for more crypto weather reports!
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by ATTMO
TRADE ALERT - LONG MATIC, SAND, AVAXTraders, As stated in an earlier post, BTC held my long-standing neckline at 25,200 and then absorbed the 26,500 price. With the hidden bullish divergence spotted on the RSI, the price now favors the bulls slightly. BTC.D continues to trend down and this gives the alts a good chance to follow the lead of BTC. So, as promised, I have begun to pick through a few entries that look promising. These entries appear to be ready to follow BTC because they mimic the hidden bullish divergence on the RSI. Additionally, you will see they are all ready to exit a bullish descending triangle. All entries have a r/r of around 4/1. All entries will be shooting for the 200-day moving avg. as a target to start. As usual, this is subject to change pending price, time, and pattern scenarios and usually does. Keep an eye on my spreadsheet for those updates. The first entry I have chosen is Matic. Entry .52 Target currently .82 and SL .46. R/R 4.1 Second SAND. Entry .30 Target .48. SL .25 R/R 3.8 Third AVAX. Entry 9.12 Target 14.11 SL 8.00 R/R 4.6 I will stick to my SLs and may adjust/exit should that RSI dip below the Hidden Bullish Divergence lines I have drawn. None of this constitutes financial advice. I am an entertainer playing a public game and am simply demonstrating how I play. Best, Stew
INDEX:BTCUSDLong
by stewdamus
MATIC/USDT In the Crucial Zone, MATIC Need Bounce to Continue Up💎 MATIC is undeniably on our radar. Currently, it's nestled within a support zone after facing a staunch rejection from the daily resistance. This juncture will determine MATIC's next move: either ascend to re-challenge the daily resistance or descend towards the imminent demand zone around $0.537. 💎 If MATIC does dip to this demand and witnesses a strong rebound, it could be indicative of a liquidity sweep, which often precedes a significant bullish rally. 💎 However, should MATIC struggle to regain its footing in the support zone post touching the demand, it might be a red flag. This could suggest a potential further decline for MATIC, possibly towards the next support level and even potentially to the critical support zone.
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by MyCryptoParadise
MATIC/USDT bullish momentum? 👀 Matic Today Analysis💎 Paradisers, pay attention! We are observing an exhilarating opportunity with #MATICUSDT as it breaches the daily resistance level, gearing up for a bullish move. 💎 Upon meticulous analysis, we’ve noted that #MaticNetwork previously broke below the ascending channel and embarked on a downward trajectory. Currently, it’s unfolding two possible scenarios. 💎One possibility is it retests 0.5499 and initiates a bullish move. The second scenario is it breaks that level and establishes a downward trajectory to retest the daily support level. 💎 Remember to employ prudent trading strategies and use proper stop-loss measures! Stay alert to market movements and look forward to more insights!
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by MyCryptoParadise_Simon
MATIC/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this MATIC/USDT update from Crypto Sanders. Chart Analysis:- Polygon (MATIC) rose for a back-to-back session on Wednesday, hitting a multi-week high in the process. MATIC/USD moved to an intraday high of 0.5937 in today’s session, which comes following a low of 0.5523 the day before. This resulted in the polygon climbing to its highest point since August 29, when the price peaked at 0.6355. the surge saw the relative strength index (RSI) rise past a ceiling at the 62.00 zone. the index is now at a reading of 62.76, with an upcoming resistance level at the 70.00 point. A crossover between the 10-day (red) and 25-day (blue) moving averages also seems to be one of the reasons for today’s rally. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
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by CryptoSanders9563
MATiC: Long Short PLAYBOOK Indians love to churn businesses so do projects with EXCELLENT marketing as evident in MATiC price action anchored to series of camaigns from Name Change POLYGON to recent zkEVM March rollout Gang of 8 Whales control the Price and looks like it loves to hunt stops in between the cost of HANDLER Asian Market handler in control Euro Market free for all organic market decides US new york .. handler decides on news event driven anchored to BTC and DXY Body Clock of Handler is it hunts liquidity at obvious floor ceiling beyond it notice the TRUMPET formation size you entry and Churn Milk this with the King of Japipur NOTE: do not use Logarithmic scale as it fools or tricks your eyes stick to normal chart that harami circled doji in Yello is an indecision or unfinished business of TRADE to be revisited
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by senyor
15
Matic: Sell in May and go away 🐻⁉️📆 We can see that the month of May is a crucial month. The range contained in the 🟥 red rectangle has already been tested several times, and in May last year we had a sharp drop. Here we are again in the month of May, on top of that range. Will it fall again? I don't know. But if it drops again, I would bet on a drop to some Fibonacci region drawn on the chart, and after any reversal signals I would look for an entry. But before that, I believe that there will be a spike in the rise, and depending on the context, it will not even fall as expected. Just having a crystal ball to know. 🔎 Doing a complementary analysis using on-chain data, we can see that Uniswap's liquidity pools suffered a relevant decrease in the month of May: 🔎 And the total trade volume on Uniswap (in USD) also has this setback: 🔎 Another item that I found interesting to point out, looking at the on-chain data, is the "New address created with non-zero starting balance" in the blockchain, which broke down an important level: 🟢 Despite everything, I remain bullish. It's not because the last month of May was bad that we will necessarily now have a bad month too. The last three arrows in the red rectangle indicate that there was a test in this region, and the price did not break down, which could indicate that at least we will have a rebound if there is a stronger drop. Another thing to note is that the TVL (Total Value Locked) in blockchain seems to be showing signs of reversing:
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by andre_007
2
MATIC/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello, welcome to this MATIC/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Polygon (MATIC) also hit multi-week highs on Wednesday. MATIC/USD reached 0.5486 at the start of today's session, bouncing back from a low of 0.536 a day earlier. The move pushed Polygon to its strongest level since September 8, when the token reached a high of 0.5586. Earlier gains have faded, and the RSI appears to have failed to break out of its range at the 49.00 mark. Currently, price strength stands at 47.34, however, momentum remains largely bullish ahead of a potential moving average crossover. The 10-day (red) and 25-day (blue) trend lines are on the verge of moving up, which could lead to a fresh surge in prices. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
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by CryptoSanders9563
2
Let's go to the Moon!As the halving for Bitcoin approches in April 2024, I am expecting a fast approach to all time highs around end of Nov-Dec of 2024. Bitcoin remains the #1 Cryptocurrency and will be here for time to come. Using the 2020 Bull and Bust Trend, the Ghost Candles mark the path. I do not believe there will be a 2024 Bitcoin Crash as it is getting harder and harder to get more Bitcoin for your moneys worth as price increases on a rapid pace if people feel FOMO. There is a forbes article "Here’s What Caused Bitcoin’s ‘Extreme’ Price Plunge" and from what I read it was due to a Bitmex outage based on being knocked offline. I believe that Futures price shouldnt matter because if you actually hold your Bitcoin in your wallet, price on for Futures shouldnt matter and when you get liquadated on Bitmex, your Bitcoin only goes from your hand to another persons hand. One persons Loss is anothers Gain. I am also 10,000 Matic Tokens to see if I get lucky on the next bullrun, just as a side bet on the altcoin. Bitcoin should be your number one Cryptocurrency holding. Let's go to the Moon!
COINBASE:BTCUSDLong
by sniperfox2021
1
MATIC Polygon Price Target after Court approves FTX LiquidationGiven the recent developments in the crypto space, there are several factors that point towards a bearish outlook: FTX Liquidation of $3.4 Billion in Crypto Assets: The approval by the Delaware Bankruptcy Court for FTX to liquidate $3.4 billion in crypto assets is a significant event. This influx of a substantial amount of cryptocurrency into the market could potentially lead to an oversupply situation. When a large amount of assets is dumped into the market at once, it can put downward pressure on prices. Limited Sales in the First Week: The imposed limit of $50 million for the first week indicates a controlled release of these assets. This may imply that FTX anticipates potential market disruption if a large volume is sold at once. However, even with controlled release, the market could still experience downward pressure. Potential for Increased Limits: The provision for increasing the limit with the approval of the creditors’ committee and ad hoc committee, or potentially even up to $200 million weekly with court approval, shows that there's room for further selling pressure in the coming weeks. Binance US CEO Resignation: The resignation of Binance US President and CEO, Brian Shroder, could potentially signal internal challenges within the exchange. Leadership changes in major crypto exchanges can lead to uncertainty and can impact market sentiment. Asset List: The assets listed for liquidation include some of the major cryptocurrencies in the market such as Bitcoin, Ethereum, WBTC, WETH, USDT, SOL, XRP, STG, APT, BIT, DOGE, MATIC, FTT, TON and more. If a significant portion of these assets are sold off, it could have a widespread impact on the market. Market Sentiment and Confidence: These events combined might lead to a loss of confidence in the crypto market, especially if investors perceive them as signs of instability or potential oversupply. Regulatory Considerations: The fact that a bankruptcy court is involved in this process highlights the regulatory environment surrounding cryptocurrencies. Heightened regulatory scrutiny or intervention can have a dampening effect on the market. Considering the above, my Price Target for MATIC Polygon is $0.41. Looking forward to read your opinion about it.
MShort
by TopgOptions