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Polygon

What's Next Possible Move of MATIC/USDT? Polygon Analysis💎Attention, Paradisers! Turn your focus to MATIC, as it's gearing up for potential movements, offering a few captivating possibilities. 💎MATIC faced resistance at the OB a few days ago, sparking an upward trend. Yet, with a hint of slowing momentum, it's projected to re-engage with the OB. Should it falter at this juncture, anticipate a bullish continuation from a key support point. 💎Delving into its trajectory, we've noticed a shift from demand to supply, resulting in a pronounced dip. 💎After capturing liquidity from below, MATIC seems primed to climb, targeting the overhead imbalance. 💎Keep a close watch for further insights and relish your trading adventure.
MLong
by MyCryptoParadise_Nathan
Polygon Matic price will try to work out a medium-term tradeMatic buyers are not giving up and are trying to break through the local trend and strong liquidity zone from above. We assume that there will be more attempts to push the price up, so this medium-term trade has the right to live: Entry = $0.636 Stop = $0.5582 (-12%) Take Profit = $0.9595 (+50%) Potential profit/loss ratio = 12/1 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
M
by P_S_trade
34
Polygon (MATIC) Faces 25% Price Collapse, Fears of New Yearly LoThe price of Polygon (MATIC) has experienced a significant 22% collapse since its July highs, raising concerns about the possibility of a new yearly low. MATIC failed to break through a critical horizontal resistance area, leading to a breakdown from a short-term corrective pattern. This decisive rejection indicates a bearish trend, and if the breakdown is confirmed, it could lead to a new yearly low for the cryptocurrency. Bearish Signals on Weekly and Daily Timeframes Cast Doubt on Immediate Recovery On the weekly timeframe, the analysis shows a pessimistic outlook for MATIC. It was rejected from the $0.82 resistance zone, which had previously acted as a strong support level since July 2022. The formation of a long upper wick on the weekly chart suggests increased selling pressure, indicating that sellers took control and pushed the price below the resistance area. Additionally, the weekly RSI supports the bearish sentiment, falling below 50 and signaling a bearish trend. The daily analysis further supports the bearish sentiment, as the breakdown of an ascending parallel channel suggests the completion of the upward correction and a resumption of the bearish trend. The daily RSI also falls below 50, reinforcing the bearish outlook. Since the breakdown, the MATIC price has already fallen by 7%, and if the decrease continues, the next support level is at $0.55, implying a potential further decline of 20%. Bottom Line: In summary, the recent price collapse in Polygon (MATIC) raises concerns about a potential new yearly low, given the bearish signals from both the weekly and daily time frames.
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by cryptohopper
What is Polygon 2.0 ?Polygon, the most prominent Ethereum Layer 2 solution and one of the top cryptocurrency projects by market value, is launching its first zkEVM chain, independent of the main Polygon proof of stake chain. Furthermore, it plans to fundamentally change the architecture of the Polygon Network with the launch of Polygon 2.0. What Is Polygon 2.0? Polygon 2.0 is a planned Polygon Network upgrade to establish it as the "Value Layer of the Internet." It will be an elemental protocol that enables users to create, exchange, and program value in the same manner they do with information on the internet but in a decentralized system. By providing features such as digital ownership, decentralized finance, and new coordination mechanisms, Polygon 2.0 will enable anyone to access the global economy. It reimagines the architecture of the Polygon network, its governance, and tokenomics and tries to address the challenges of existing blockchains, more precisely, network throughput and scalability limitations. How Does Polygon 2.0 Work? Polygon 2.0 will take a four-layered structure designed to improve the security and scalability of the network while making transactions atomic and instantaneous. static1.makeuseofimages.com The layers include; Staking Layer : This is the existing layer composed of a "validator manager" contract on the Ethereum blockchain and a "chain manager" for every Polygon chain created. It maintains the validators' registry, processes their requests, and processes slashing events. Interoperability Layer : Built upon the staking layer, the interop layer connects every Polygon chain using bridges. It will also have an aggregator that merges zero-knowledge proofs into one proof sent to the Ethereum blockchain. Execution Layer : This layer will enable the Polygon chains to process blocks similarly to Ethereum blocks. It contains multiple components, including P2P, consensus, mempool databases, and witness generators. Proving Layer : This layer generates proofs for all internal and cross-chain transactions for each polygon chain: It's composed of the "common prover" for proof aggregation and verification, the "state machine" that simulates the execution environment, and a "constructor" for developers. Polygon Labs believes the resulting network of zk-powered Layer 2 chains consolidated through a cross-chain coordination protocol will achieve unified liquidity and unlimited scalability. Consequently, users will engage with the entire network with singularity. What Polygon 2.0 Means for Crypto Users? Polygon 2.0 is in the rollout stage. Collaborations between Polygon Labs, other stakeholders, and the broader Polygon and Ethereum community will determine whether to implement it or not through a formal governance process. But if the current development is to go by, the upgrade is likely to go through. Two major dates are pending for Polygon 2.0: The week of 10th July 2023, when they'll announce a token release, and the following week of 17th July, when governance will follow due process. Polygon 2.0 will introduce two great features to the network: 1-Polygon 2.0 will rely on zk-proofs to store validated transactions on Layer 1 and actual transaction data on Layer 2. This innovation will reduce the cost of transactions and improve users' privacy. 2-The network will support countless chains and allow unlimited cross-chain interactions instantly without compromising security. Hence, users will interact with the entire network without feeling they're leaving a single chain. With such developments paving the way for a better Polygon Network, it will be interesting to watch if more investors will bet on its future. Polygon 2.0 Will Be a Web3 Mainstay The future looks promising for the Polygon Network as it introduces Polygon 2.0, which will establish an essential protocol in the Web3 environment. Over the next few weeks, Polygon Labs will share detailed data on the architecture and workings of the new network and how they intend to transform the project. If interested in reviewing the proposal, you're encouraged to participate in the community's conversations that will shape the network's future. Hope you enjoy this article. Follow for more important contents an analysis. Refrences : www.makeuseof.com polygon.technology
MEducation
by TraderAmin-KZ
6
MATIC: Rising Wedge BreakoutPolygon (MATIC) technical analysis: Trade setup : Trends are mixed but improving. Bullish breakout from Rising Wedge pattern and above $0.75 resistance could signal a potential trend reversal with upside to $1.00. That level ($1.00) is a stiff resistance because it also lines up with 200-day moving average. However, if it clears that level, that would confirm resumption of Uptrend. Patterns : Rising Wedge It usually forms after an uptrend and suggests a potential bearish reversal in the original uptrend. When price breaks the lower trend line the price is expected to trend lower. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout. Trend : Neutral on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $0.50. The nearest Resistance Zone is $0.75, which it broke, then $1.00.
MLong
by altFINS
Polygon Matic price don't give up and trying growthLet's start the idea of MATICUSDT by thinking about why we should draw medium-term estimates of possible price movements. Here is our medium-term idea for MATICUSDT, which we published 6 months ago. Back then, we clearly described two scenarios and under what conditions to stick to one or the other. There is an action plan, there are critical points of activation of one of the scenarios, and it remains to trade in the right direction. And then, like everyone else, we had no idea that someone would think of classifying MATIC as a "security" and that this would cause the price to crash. You can easily test the idea) In the short term, the MATICUSD price is approaching a strong liquidity zone around $0.73, which has been acting as support for a long time, so probably it will not be possible to break it up at the first attempt. A slight correction will follow, and the second time around, you can try to break through to the top of the channel at $0.83 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
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by P_S_trade
24
From Current Levels to $15: MATIC's Journey in the Next Bull RunMATIC/USDT Bull Market Analysis: A Comprehensive Review Current Market Overview: At the time of writing, the MATIC token is trading at $0.79, marking an impressive 154% increase from the recent bear market bottom. This significant upward movement indicates a potential shift in market sentiment. Bullish Pennant Formation: A closer examination of the MATIC/USDT pair on the high time frame weekly chart reveals the formation of a bullish pennant pattern. This pattern typically signifies a continuation of the previous upward trend. However, the most critical factor to consider is the breakout point. Anticipated Price Movements: Based on the chart analysis and current market trends, it is anticipated that MATIC may experience further upward movement towards the $1 level before encountering strong resistance. The $1 level is a significant supply zone, and a rejection from this level is expected. Potential Retracement: Following the rejection from the supply zone, it is likely that MATIC will retrace towards the demand zone, which is expected to be a strong accumulation area for investors. The demand zone is estimated to be between $0.25 and $0.38. Breakout Analysis: A crucial aspect to watch for is the breakout of the cluster around the $1.07 level. If MATIC successfully breaks out from this level, it could initiate a substantial upward rally, potentially invalidating the lower price targets discussed earlier. Supply Zone and Future Bullish Scenario: The red box on the chart represents a strong supply zone. If the price manages to break above this level, the previously mentioned lower price targets may become irrelevant. Instead, a highly bullish scenario could unfold, potentially propelling MATIC to new all-time highs. Future Price Target: In a bullish market scenario, with the successful breakout of resistance levels, the MATIC/USDT pair could potentially reach price targets ranging from $12 to $15. However, it is crucial to exercise caution and wait for confirmations before making trading decisions. Disclaimer: This analysis does not constitute financial advice. Always conduct your own research and consult with a professional before making investment decisions. Follow us for More Crypto Analysis. Thank you.
MLong
by CryptoPatel
8
🔴 MATIC Hello Dear friends The price chart on the daily time is below a downward trend line and so far this trend line has been preserved. The indicator from RSI has issued a negative divergence on the four-hour time frame. And as we can see, the resistance areas are not fully consumed. But we lost support areas in almost every corrective move. Currently, it seems that the possibility of forming a corrective trend is much higher and the possibility of breaking the downward trend line from this range with this movement momentum is very weak. What do you think?
MShort
by BiTBingo
MATIC Polygon and the Altcoin Season ThesisIf you haven`t sold MATIC here: Then the recent developments in the cryptocurrency market, particularly the favorable court ruling for Ripple Labs, signal an optimistic start to a new altcoin season. With the federal judge ruling that some of Ripple's sales of the XRP token do not fully meet the definition of a securities offering, it instills confidence in the altcoin space. This ruling brings clarity to the regulatory landscape and alleviates concerns surrounding XRP, leading to major cryptocurrency exchanges, including Coinbase, relisting the token. The reintroduction of XRP to these platforms demonstrates growing acceptance and renewed interest in this altcoin. The anticipation surrounding the approval of a spot bitcoin ETF in the United States adds to the positive sentiment in the market. The successful launch of a previously approved ETF in Europe further reinforces the upward trend for altcoins. The recent court ruling that declared XRP as not a security sets a precedent that could potentially benefit other cryptocurrencies currently classified as securities by the SEC. In the SEC's case against Binance, they designated 10 cryptocurrencies, including BNB, BUSD, SOL, ADA, MATIC, ATOM, SAND, MANA, AXS, and COTI, as securities. Additionally, in the SEC's lawsuit against Coinbase, they named 13 cryptocurrencies, reinforcing their stance on SOL, ADA, MATIC, SAND, and AXS, and adding CHZ, FLOW, ICP, NEAR, VGX, and NEXO to the list. This development showcases the increasing institutional acceptance of cryptocurrencies and creates a ripple effect across the market, providing a boost for various altcoins, including MATIC Polygon, for which my price target is $0.95. Looking forward to read your opinion about it!
MLong
by TopgOptions
A rise above 0.7778 is expected for a change in trendHello? Traders, welcome. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day. ------------------------------------- (MATICUSDT chart) The HA-Low indicator on the 1W chart is about to form at the 0.7192 point. Accordingly, when the HA-Low indicator on the 1W chart is created at the 0.7192 point, the key is whether it can be supported and rise around 0.7192. However, since the 1M chart's HA-Low indicator was not created, you need to check whether the 1M chart's HA-Low indicator is created or supported around 0.7778. If it doesn't, it's because it's likely to stay on the downtrend. Therefore, it is necessary to check whether it is supported and rises in the 0.7192-0.7778 section. If not, you should check if you can get support in the 0.6348-0.7192 interval. As it maintains an uptrend while breaking through the HA-Low indicator on the 1D chart upwards. 1st: 0.7778 2nd: 0.08647-0.9059 Split selling is possible when resistance is received near the 1st and 2nd above. The next period of volatility is around July 13th. The CCI indicator is entering the oversold zone. Therefore, when exiting an oversold zone, you need to check which point or zone is supported or resisted. -------------------------------------------------- ------------------------------------------- ** All descriptions are for reference only and do not guarantee profit or loss in investment. ** Even if you know other people's know-how, it takes a considerable period of time to make it your own. ** This is a chart created with my know-how. ---------------------------------
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by readCrypto
1