Matic at Local bottom #matic/usdt
Accumulating CRYPTOCAP:MATIC at the weekly demand **zone
This is a bottom imo!
Matic
MATIC Weekly Chart Update.Hello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
After reaching a local high of $1.29 in March 2024, MATIC has been on a downtrend for almost 112 days. With the current market scenario, it is likely to see MATIC dropping a further 15% to 20% from the CMP.
The lower support ranging between $0.316 and $0.387 holds high liquidity and presents a decent entry level for MATIC.
Key Observations:
~ Lower Support/Entry: $0.387
~ Liquidity Level: $0.316 to $0.387
~ Resistance: $0.9860
~ Long-term Target: $2.923 (All-time high)
DYOR. NFA.
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Matic longMatics long term structure is really strong and I am confident we have hit the low on this correction.
The shorter timeframes are suggesting a possible partial decline of the latest range just below the historical resistance at 75c. There is also the three valleys patter that has developed and confirmed.
Here you typically wait for a break and confirmation of 75c, however we've decided to partly enter the trade now, with the plan of adding above 75c if we break and confirm it as support.
The stop loss is placed below the secondary low and at the break of the shorter trend. You could make your stop loss looser if you wanted to trade the range low. If we get stopped out we will look for the opportunity to re-enter.
For this cycle my long term targets are:
1. $2.61
2. $3.62
3. $4.50
These are the targets for my spot hold, I wouldn't want to see the price break 60c for this play.
$MATIC may do something like this#polygon #matic price has been declined from the trend line zone and may have bearish retest to confirm the further correction phase. Small bounces are always necessary. Not financial advice.
#MATIC/USDT#MATIC
The price is moving within a bearish channel pattern on the 4-hour frame, which is a strong retracement pattern
We have a bounce from a major support area in the color EUR at 0.5340
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that supports the rise and gives greater momentum and the price is based on it
Entry price is 0.5500
The first target is 0.5980
The second target is 0.6307
The third goal is 0.6720
Triangle's upper boundaryMATIC is currently trading within a tight range, establishing consistent highs and lows. The price is forming a large triangle pattern, indicating a period of consolidation. It is nearing the apex, suggesting that a significant move may be imminent. The upper boundary of the triangle acts as a crucial resistance level. Price action near this level should be closely monitored for potential breakout signals.
The lower boundary of the triangle provides strong support. Any movement towards this level could be an opportunity to assess the strength of the support.
A breakout above the triangle's upper boundary could lead to a significant upward move. Conversely, a breakdown below the lower boundary might result in a downward trend.
Strong resistance level may challenge the priceFor MATIC, Breaking the $0.5800 resistance could lead to a strong upward move, while failing to break this level might result in a decline to lower support levels at $0.5592, $0.5270, and $0.5153.
Matic Trade Setup.Matic Trade Setup.
After a confirmed breakout from the trend line and green zone, we could take entry at $0.5687.
Remember stop loss is your friend. Everything is on the chart.
Entry $0.5687
S.L $0.5422
T.P 1 $0.5884
T.P 2 $0.6127
T.P 3 $0.6392
Matic Coin Analysis: Potential Gains of 13x, During Alt SeasonMatic coin currently holds a strong support level between $0.48 and $0.49. This level presents a promising opportunity for significant gains as we enter the altcoin season. Historical data suggests that if this support holds, Matic could potentially reach a minimum target of $3.415, offering an impressive gain.
However, if the $0.48 to $0.49 support level is breaking, the next major support can be found between $0.29 and $0.31. This level is crucial for Matic's long-term stability.
During a bullish alt season, Matic has the potential to soar even higher. Based on historical trends, the maximum target could reach up to $6.47, representing an extraordinary return of nearly 13x from the current support level.
For more detailed analysis and updates, follow us on TradingView to stay informed about our latest trading ideas. Don't miss out on potential opportunities in the crypto market!
Matic Swing Trade IdeaSwing trade idea.
Asset: Matic
Bias: Long
Confluences:
•Fibonacci golden pocket/.786
• Loss of the value area low (likely a bullish loss of VAL-commonly mistaken as a fake out/liquidity grab
•Formation confluence (descending channel @ 4hr broadening wedge )
•Market cipher confluence on lower hourly timeframes (anchor wave confirmed on the 1hr + 30m bullish divergences.) Daily bullish divergence with 2D bull divs printing.
Entry Details:
I’ll be looking to enter on multiple drives of 3m bull divs + 6m bull divs.
Entry Zone: .5490-.5295
Stop loss: .5280
TP1: .5527 (VAL/1:1)
TP2: .5712 (POC)
TP3: .5824 (VAH)
TP4: 5973
TP5: .6290
TP6: .6807 (pVAL)
TP7: .7244 (pPOC)
TP8: .7414 (pVAH)
Concerns:
Swing Failure Pattern (SFP) is a possible. I will consider entering on a sweep of the previous wick even after getting stopped out. As long as you are risking 1-3% the win will outweigh the loss tremendously over time.
MATIC: Start-Up DifficultiesMATIC struggled to achieve clear upward momentum last week. The bears slowed the coin down, so that it is trading slightly lower today than at the time of our last update. Nonetheless, we still see the price in the blue wave (iii). During this wave, we expect it to rise well above the resistance at $0.98. If, on the other hand, there is a fall below the support at $0.50, we will have to assume a still ongoing wave alt.(2) in magenta, which would first require a setback into our same-colored Target Zone ($0.471 – $0.308).
MATIC is Approaching An Interesting ResistanceHey Traders, in today's trading session we are monitoring MATICUSDT for a selling opportunity around 0.5830 zone, MATICUSDT is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.5830 support and resistance area.
Trade safe, Joe.
MATIC NETWORK FED WILL CAUSE BIG CRASHBlackrock CIO already mentioned hours ago that FED wil hike the rates.This is panicing themarkets..and it is just the beginning. Entries and Take profit levels see on chart above
MATICUSD - Strong Horizontal Support LevelExcluding the low at the labels price .31, MATIC has reached a strong horizontal support level that has seen bounces off it repetitively.
As I think we are entering a larger bull market this could be a great entry point for the bulls.
Simple Support Analysis.
Daily Chart.
MATIC Weakness: 2-Year Pennant BROKENAfter a massive pump last cycle, MATIC is one of the weaker bigger alts on the market. It has given away all of the gains made since the October 2023 bull move and is not looking like it will stop dumping. The pennant pattern that has been holding for over 2 years has been broken.
I'm looking at the yellow area for a potential long-term entry. Patience is key.
MATIC Network AnalysisMATIC not only performed exceptionally well in the previous bull market but also held up strongly compared to other altcoins in the bear market. I consider $0.37 as the main support level, with ultimate targets of $3 and $10. DYOR
Can we get a golden opportunity soon?So there are a few things that I noticed, and it could be a great opportunity to consider either SPOT or FUTURES trading. As you can see BINANCE:MATICUSDT was holding an uptrend channel it has been a good support since June 2022. Looks like it is breaking down which is a very bad sign to go down further, but there is a major support zone at 0.3-0.35 area. This support zone must hold it otherwise we might even see a 0.05 area. The closing candle around 0.485 will be 3rd BOS (break of structure), and confirmation to continuously
go down. I will consider Long trade around 0.3-0.35 area.
MATIC IS AT CRUCIAL SUPPORTMatic is trading at a crucial support level and needs some buyers to come in or we can move much lower. Great area to DCA and hold if you believe in this company long term.
Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade.
Every day the charts provide new information. You have to adjust or get REKT.
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This is not financial advice. This is for educational purposes only .
#MATIC/USDT#MATIC
The price is moving within a descending channel pattern on a 4-hour frame, which is a retracement pattern
We have a bounce from a green support area at 0.6000
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that supports the rise and gives greater momentum and the price is based on it
Entry price is 0.6270
The first target is 0.6582
The second goal is 0.7218
The third goal is 0.7742
These ALTS can still EXPLODE - ALTSEASON 2.0Missed the rallies? Don't worry! Here's a list of alts that still has BIG UPSIDE Potential!
1) CROUSDT / OKX:CROUSDT
2) LINK / BINANCE:LINKUSDT
LINK is 53% from the FIRST TP point... and still an incredible amount of upside beyond this point:
3) MATIC / BINANCE:MATICUSDT
MATIC is about to retest a very important support zone for the third time, and a triple bottom would be significantly bullish (IF it holds):
4) Fantom / BINANCE:FTMUSDT
FTM seems bearish for the short term, but it's over 400% away from the previous ATH! There great upside potential her is you have some patience. I'd be looking to buy in the yellow zone:
5) Litecoin / BINANCE:LTCUSDT
And last but not least, Litecoin as seen on the front chart. LTC is about to re-enter the accumulation zone, where it normally doesn't stay long - it could consolidate here for some time, but upside is usually the next logical step after Litecoin enters the accumulation zone.
Again, you may need some patience but if you're willing to hold you could score big time on these altcoins!
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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.
Alikze »» FIL | Big C or 3 wave scenarioIn the daily and weekly time, it is moving in an upward channel, which according to the previous analysis , the last wave had the ability to grow to around 100% of the previous wave, after which it faced correction, which was correctly mentioned in the updates of the previous post. And extended to the specified area of correction.
💎 First scenario: Therefore, if this last correction, which is extended in the form of three waves up to the green box range, is completed and its structure does not constitute a complex combination correction, we can expect a sharp super cycle of wave C or 3 from it. In the first step, it will conquer the ceiling of the previous major and after that it can touch the specified supply area.
💎 Alternative scenario: If the green box range is broken, this correction can extend further to the $4 range and then to $3.125, in which case it should be updated again.
If the behavior and structure of the post changes, it will be updated.
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