MATICUSDT any dip to weekly support is for longAnalysis: HTF
The price broke down from the previous weekly support and came back down to next weekly support which is marked as WS1 on the chart. That support did not hold but weekly support WS2 held the price and provided the expected bounce. Next weekly support level is WS2 but I doubt we will visit there. Any further dip to the weekly support WS1 is for buying. As far as current price action is concerned, it is currently facing daily resistance. If this resistance is broken, the next level is the next daily resistance DR2 around 0.77.
Matic
Polygon (MATIC) Bull ScenarioDo you think Altcoins will stall when Bitcoin starts running? If you think the alts will walk too, I can talk to you about MATIC.
In my opinion, I think we are in the days when we have the last opportunity to buy MATIC, which will be the star of the next bull season.
As you can see on the black lines, MATIC, which made the symmetrical triangle it made in the past, entered short-term downtrends 2 times within this symmetrical triangle (Orange line) and after the second break, the bull run started. We are on the eve of this process.
In the two symmetrical triangle patterns, we can see that MATIC is spending a lot of time inside the 0.382 and 0.618 levels of Fibonacci retracement. (Purple Boxes)
In addition, the bottoms and tops that form the symmetrical triangle in both patterns are made at the same Fibonacci levels. This is another indication that the two patterns are very similar. (Red arrow and circles)
Therefore, when we look at the Fibonacci levels again, we can see that when the bull season is entered, the targets will be $10 and $87, respectively. This means 1672% when the first target arrives; In the second target, a profit of 14000% will be obtained.
Since the risk/reward ratio in this scenario fits my trading style and strategy, I made my first purchase at this level. I will add when the orange resistance is broken and retested, and I will add my position at the retest after the triangle break (black) and wait for the $87 level.
MATICUSDT - Bulls Eyeing Potential Reversal"Enhance your caution regarding the support zone as it serves as a dependable purchasing point."
MATIC STRONG BEARISH Falling KnifeTrend stron bearish
RSI Momentum below 50 strong bearish
Nearish Volume rising
Support will break soon
Matic will fall deeper
ADA, MATIC, SOL face the music as Robinhood delists tokens
Hours after Robinhood delisted ADA, MATIC, and SOL, the price action of the tokens was not what participants would have hoped for.
The decision to end support for the tokens caused a $387 million wipeout from the crypto market.
Several indicators revealed that ADA, SOL, and MATIC’s momentum were bearish.
The prices of Cardano , Polygon , and Solana tumbled in double-digit figures after Robinhood confirmed that it was delisting the tokens from its platform.
While the U.S. trading platform did not give cogent reasons for its decision, speculation went around that it was linked to the recent SEC “unregistered securities” tag.
Unlike recently targeted exchanges like Binance and Coinbase, Robinhood is duly regulated by the SEC. Hence, it could have been necessary to take such action.
Regulatory fear leads traders to liquidation
In its statement, Robinhood noted that no other coins were affected. But holders of the ADA, SOL, and MATIC had until 27 June to stop transacting the tokens.
As the sudden move sent shockwaves through the crypto market, the implication of the decision revealed itself.
According to CoinMarketCap, SOL’s value decreased by 22.47% in the last 24 hours. ADA could not escape the heat, registering a 23.06% decrease. As for MATIC, it was down by 26.12% within the same period.
Because of the significant decline in the prices of these tokens, liquidations in the past 24 hours surged to $387 million, with longs suffering the most.
Based on the liquidation heatmap from Coinglass above, SOL accounted for $15.15 million out of the total wipeout. MATIC’S liquidation went up to $8.54 million, while ADA was $15.87 million.
Red season for the cohort
Meanwhile, an evaluation of the ADA/USD daily chart showed that the token’s momentum had breached the oversold region, as indicated by the Relative Strength Index (RSI).
At 17.21, the RSI showed that selling pressure was tremendous. Thus, the momentum was bearish, and slight buying power might do almost nothing to save the price action from the press time state.
The daily timeframe of MATIC was not any better. This was because the Awesome Oscillator (AO) was down to -0.1139. Thus, AO crossing into the negative territory indicated a bearish signal.
🔥 MATIC Found Support At An Ancient TrendlineMATC has been one of the weaker major tokens of the last couple of weeks. During this week's sell-off, MATIC moved all the way towards an ancient support line which has been established at the start of the previous bull-market.
This, combined with the 3D RSI being severely oversold, makes me believe it's more likely than not that we're going to see some kind of bounce in the near future.
For an optimal risk-reward, I'm looking at the current ATH value as the profit target. A less risky bet would be to target 1.00 or 1.50, with a stop below the most recent local low.
long MATICCRYPTOCAP:MATIC bounced off the support level and broke though the descending trendline. Bullish movement to resistance level at 0.65$ is expected to happen.
MATICUSDT - Gaussian Channel Wants to Go GreenWeekly timeframe the Gaussian channel is curling towards the green zone.
The previous time during the green channel was extremely bullish on this timeframe.
Currently we are sitting under the Gaussian Channel but it can recover really quickly.
[UPDATE MATIC] Nothing changed. What if?As I mentioned before, we could be currently in stage 2 of this inflationary bear market. This means that inflation peaked in September and we can expect to see lower inflation for a few months, followed by a recession. This will likely lead to more bear market rallies until the Federal Reserve intervenes again and introduces more money into the market, leading to another market crash in mid-2023 (stage 3). This will cause inflation to skyrocket again, leading to a depression phase (stage 4). If I were to visualize these phases in a chart and use MATIC as a reference, it would look like this.
THIS IS A STAGE 2 SCENARIO.
[UPDATE TOTAL] I said it multiple times. This a good scenario.Accumulation means accumulation.
Short term:
A) quick pump, then down, then deviation (yellow line), then trend range down, then deviation to 1st of Jan 2021, then up.
B) quick dump, then up, then A)
Long term:
A) meltup after accumulation, then down
B) Up then down again after halving
See chart.
This is one of the scenarios I'm watching.
💥MATICUSDT 4H-TIMEFRAME ANALYSIS💥MATICUSDT 4H-TIMEFRAME ANALYSIS
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MATICUSDT - Bottom Along Trend Line Using the RSI to view a trend line.
Higher low is also present which is a good sign.
Viewing the RSI on the monthly Matic hasn't really seen much action at all. We are yet to experience a second bull run.
Matic Polygon eyes 200% gains on PolygonPolygon in high-profile partnerships
Notably, Meta, the parent company of Instagram, named Polygon as its initial partner for its upcoming nonfungible token (NFT) tools that allow users to mint, showcase and sell their digital collectibles on and off the social media platform.
Meanwhile, banking giant JPMorgan used Polygon to conduct its first live trade (worth about $71,000) on a public blockchain, marking a concrete step toward integrating cryptocurrencies into traditional financial frameworks.
MATIC, a utility and staking token within the Polygon blockchain ecosystem, rose over 13% to $0.985 after the announcements, accompanied by an uptick in daily trading volume.
MATIC’s upside move came as a part of a broader recovery rally across the crypto sector that started in mid-June. MATIC’s price has rebounded by more than 200%, a trend that will likely sustain in the coming months.
On the daily chart, MATIC has painted a cup-and-handle setup, which comprises a U-shaped recovery followed by a downward drifting channel. The token is now eyeing a decisive breakout above the pattern’s neckline range (the red bar in the chart below) to reach $2.89, its primary upside target.
As a rule of technical analysis, a cup-and-handle pattern’s target is measured after adding the distance between the cup’s bottom and neckline to the potential breakout point. As a result, MATIC is now eyeing a 200% price rally by the end of Q1 2023.
Fundamentally, MATIC’s demand could keep growing, given Polygon’s growing NFT projects launched by mainstream companies.
On the other hand, macro risks continue to threaten the ongoing crypto market recovery, which may hurt Polygon despite its growing partnerships with big-name brands. That being said, a strong pullback from the cup-and-handle pattern neckline range could invalidate the bullish setup altogether.
Technical analysis:
I have marked the important zones with numbers and explained them :
1 Agresive Sellers shortened Matic at 2.60. Technically The market had very low bullish volume and huge bearish Deltas .
The market broke the short term support at 1.75 and it became again resistance.
Now the sellers started to build their positions stronger. Long term buyers took partial profits here, new buyers took losses, and sellers sold more here.
The creation of more sell orders finally pulled down the market to the deepst waters0.39145
2 This zone was and is defending strongly by Matic Long holders.
The sellers took some profits here.The long term buyers bought more matic and new buyers came into the market.
Also some late sellers took losses here or took profits.Also some sellers became new buyers. More Buy orders pushed up and pumped matic to 1.40(Defended ell area=Double Resistance)
3 Long move has a double support 0.73 and 0.65 area
The increased volume and delta at this area supports buying positions,but also the volatility .
4 A break above 1.5463 increases more delta bullish and more buyers will support this positin but this time more agressively.
The market has higher highs and higher Lows structure.To build a long term Bullish trend, a break above 1.5460 is essential
5 A break and holding above 1.54680 finally establishes a strong lbullish long term trend
6A break of 1.6590 is catastrophic for the majortiy bulls,but the final support 0.38 could save them.
If this zone has lost, The sellers will control the market for a longer periode, as the resitance numbers make it very hard for bulls to take advantageof the bull trend.
MATICUSDT.1DHello dear friends,
*Mars Signals Team wishes you high profits*
This is a one day time frame analysis for MATICUSDT.1D
We are in daily time frame. As you can see, the price has reached below our support line and we have two scenarios in mind.
First scenario: if the price cannot stabilize above our resistance line, we consider the possibility of falling to the second support line.
Second scenario: If the price can stabilize above the first resistance line, we expect to climb up to the second resistance line.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Take care
MATIC is about to finish BEAR market!Hello, my friends!
We had two options in analysis for today: MATIC and ETH. MATIC won this battle. This asset has the very interestin price formation. Therefore I can assume that bear market will be finished soon. Last dump affected BINANCE:MATICUSDT also, but price was not able to break even the lowest point of the current bear market.
Let's take a look at the price chart. Let's consider the following Elliott waves marking. Using our favorite Awesome Oscillator I defined the wave 3 bottom. It's located at $0.34. After that we saw the huge in terms of time wave 4. This reactive wave has been represented as the ABC zigzag correction. Of course it has reach a little bit higher price that it is usual for such waves. Waves 4 usually reach the zone between 0.38 and 0.5 Fibonacci retracement, applied to wave 3. In our case we saw the 0.61 level, but it's ok.
Wave 4 in my opinion is 99% finished and I am not waiting for the price above $1.5 before it will break down $0.34 low. The main reasons for that is zero line crossover on Awesome oscillator and the increasing donward momentum. Now I consider the wave 5. The final wave in this bear market. I cannot define the target for the wave 5 but price should set the new lower low. The best confirmation for the bull market start is gonna be our five magic bullets:
1.Bullish divergence with Awesome Oscillator
2.Fractal at the bottom on 4D - 1W time frames
3.Squat bar at the bottom (or even bullish reversal bar)
4.Momentum change to the upward
5.Target zone reach (below $0.34)
Be patient, market will give us the insane opportunity very soon.
Best regards, Ivan
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🔥Please, follow me and smash the rocket🚀 button to support me🔥
MATIC, Pull-back sell off?MATICUSDT / 1D
Hello traders, welcome back to another market breakdown.
MATIC has been reversing down making new lows, I'll be waiting for the next pull-back to position for the next leg lower.
Trade safely,
Trader Leo.
MATIC downswings will begin soonHi, dear traders. how are you ? Today we have a viewpoint to SELL/SHORT the MATIC symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
MATIC BIG PICTUREHi, dear traders. how are you ? Today we have a viewpoint to SELL/SHOT the ICP symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Robinhood will delist Polygon MATICIf you haven`t sold MATIC here:
Then you should know that Robinhood, the well-known trading platform, will discontinue its support for three cryptocurrencies implicated in SEC lawsuits against Binance and Coinbase.
Effective from June 27, 2023, Robinhood will no longer provide support for Cardano (ADA), Polygon (MATIC), and Solana (SOL).
In My opinion MATIC will test the support of $0.50.
Looking forward to read your opinion about it.
MATICUSDT short position (50 % profit)The upsloping support has held so far.
If we get the bounce, we expect the price to create the lower high which would be an entry for short position.
If the upsloping support fails, and the price confirms it as a resistance, it may be an entry for short as well.
Entry, Take profit, Stop loss and final target are shown on the chart.
Good luck
MATIC - Are we Going to DOUBLE BOTTOM!!KUCOIN:MATICUSDT
CRYPTOCAP:BTC sitting in the huge Head & Shoulders provides ideas for possible downside.
You can see my idea here: tinyurl.com
Price action is lurking around below the neckline after breaking it. Possibly a build up.
Once it moves we activate our plan.
CRYPTOCAP:MATIC looks interesting sitting in a Falling Wedge and could we get a Double Botton for upside break or
would we need to wait for this at the Possible Pullback level should CRYPTOCAP:BTC breakdown.
My regular followers know I like to have a Plan for my Long and Short but with clear Action and Trigger points so that I can execute like a bot and play my edge.
Always having Plan A and Plan B scenarios so we can react once the markets provide an opportunity to execute our edge.
If you liked this idea or if you have your own opinion about it, write in the comments.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations
#MATIC High Probability is 2.11 $ Before Go Below 0.30 $ #MATIC is holding support and bulls wants to take this upside for closing their Long positions. When they will take this 2-2.20 USD, then we can see Sharp Drop or Sell Off for 0.30 USD..
Polygon Falling Wedge FormationIn MATIC, a very clear falling wedge formation can be seen in the daily timeframe.
At the same time, MATIC, which is based on 0.75 support, can break the falling wedge if it is rejected from this support.
Once the wedge is broken up, the first target will be $1.19 and the main target will be $1.60.
