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Polygon

✴️ Polygon Hits Perfectly First Resistance, Next Target Mapped It is hard to belief we haven't revisit Polygon since December 20... Yet it is my pleasure to share a new update for you but first, the previous trade idea to know where we are at: ✴️ Polygon Has Bullish Potential | Can Grow 100%+ Our resistance was hit perfectly and all the indicators are flashing green. The RSI is trending up strong. Before making the mistake to think that it will become overbought just zoom out and look at the weekly timeframe... Things are only getting started. Always do this, when you see the daily timeframe looking over-extended, before reaching any conclusions first zoom out and you might get a new perspective. Weekly MATICUSDT is moving above EMA50. Closing and staying above this level is a very strong bullish signal. Now, we are trading within higher low territory as we already know we can now aim/look forward to the next high. There are many ways to extract targets/resistance levels but Fib. is our preferred tool. This is giving us a potential target at $1.65 for 66%. Very convincing... It all looks really good but... Remember, things can always change. So we prepare for both scenarios, always. What to do is prices go up, how much to sell and when to sell... What to do if the chart changes and moves the other way... It is wise to prepare before-hand. Nothing to lose, much to gain. Namaste.
MLong
by AlanSantana
MATIC/USDTesting/Tracking Elliot waves. Please do not trade without stop/loss. Matic has been my favorite coin throughout this bear market. It has been one of the few coins constantly publishing updates & making progress in a bear market. Countless numbers of partnerships especially with big name corporations is a plus. This means a lot of people have faith in this project. Enough with this though lets get to the charts. Chart timeframe is on the weekly. I have posted a few charts on matic already and have been signaling the bottom since it hit .31. The reason for this is because that's the -90% drop. If not all, majority of coins will go through a 90-95% drop from the top when we enter a bear market. If your coin has already dropped 90% and it risk falling another 5% is very little. This is where you should start positioning more, regardless if it drops further or not. On this chart I am showing you 2 potential top for the next bull run. 4.7 and 7.8. Before I go any further, let me quickly explain why you should've bought some at .31. A 90% drop from the top of 2.9 brought us to .31 A 95% drop from the top of 2.9 brings us to to .15 or so You would've been risking a -50% drop for a potential gain of 1400%+ R/R ratio of 29 (you can check by hovering over the long position: green & red chart) Now I'm a big fan of DCA. let's say you decided to buy at .31 and it did go lower into a -95% drop. This is the perfect spot for you to add more into your position. Not only did you get some for the above R/R ratio of 29 now you got some for even more. A -95% drop is normally the highest all coins drop, not many go much lower than this. With a -95% drop your R/R ratio is 35. I've placed the stop loss at -98% cause I've seen some coins go there. Your potential gain from here is 3500% Now you're adding your first position with second position. For these type of gains, the risk was very little. Currently we're at a -69% drop from the top according to today's price. If we ever go near the prices of the above, God has given you a second chance. From today's price your R/R ratio is 4.5 (437% gains) with the stop loss being under the -95% drop. The gains you potentially could've made has already gone down by tripled. The risk of buying here is still not bad, but the once in a lifetime opportunity has already gone by. The wave projection on this chart is based off of wave 1 and wave 2 already being made. Wave 3 target is an estimate of where the next bull run may take us. I tried to time the wave accordingly to the timeline, however, Elliot waves cannot predict time. Chart timeline is based off of the bull cycles in the crypto market. We normally get 2 years bull & 2 years bear that corresponds to bitcoin's halving events.
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by AyoKu
Polygon (MATIC/USDT) Poised to hit $1 SoonBitcoin price has been largely bullish since the beginning of 2023 and after recording a series of bullish candles, the bulls apparently look exhausted. It appears that the price corrections are just to attract more liquidity over the platform which is more required to uplift the price to reach the desired target of $20,000 very soon. In the meantimes some of the altcoins including Polygon(MATIC) are preparing to lay down a firm upswing. To be specific, the MATIC price is believed to rise high beyond $1 The MATIC price currently displaying immense strength as it is about to accomplish a parabolic recovery to reach the neckline of the consolidation. After reaching the resistance, the price may witness a significant pullback to the lower support around $0.84 and ignite a notable upswing towards the interim resistance at $0.91 Here the bulls are required to hold their strength which may propel the price higher above the crucial resistance at $0.95 which may in turn uplift the price beyond $1
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by Coinpedia-Market-Insight
1
MATICUSD (Polygon) ZonesHere we are looking at MATICUSD on the Daily TF… Let’s begin by zooming out on the chart to get a sense of the important zones that we must consider when analyzing Polygon in its local price range. When looking for Macro support, the strongest support line that we can draw rests at approximately $0.31 as marked by the bottom (green) line. In the immediate short term, we are looking at local support at about $0.75, so there is quite a lot of space between our local and macro support lines. If MATIC can’t hold its local support line (green), then we may expect a fall to its bear market lows, which also happen to be its macro support at $0.31. Lastly, let’s quickly analyze the resistance range drawn on the chart. This resistance zone ranges from $1.00-$1.30. As it continues to bounce between local support and resistance, we will keep you posted on relevant developments in the chart… Cheers!
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by GarethSolowayOfficial
6
There was a strong positive reaction from the supportMATIC had acceptable price growth last week. After the price reached the $0.7500 range, there was a strong positive reaction, and we saw an 8% retracement of the MATIC price. The previous resistance level in the range of $0.7984 to $0.8267 has been accompanied by a negative reaction. But the bullish candles below this resistance are being compressed, which indicates the possible failure of this resistance in the coming days. The new MATIC resistance support levels are carefully considered, and the range trend can end if any of the levels are broken. The price movement can also continue to the following levels according to the width of the range channel. If the short-term conditions of the market remain favorable, there is a possibility of breaking the resistance and reaching the target of 0.8741 to 0.9079 dollars. The Smart Money indicator confirms the current resistance support ranges.
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by MonoCoinSignal
2
✳️ MATIC Network vs Bitcoin | A Very Difficult PositionHere is a great example of a chart that we do not trade... I will explain the reason why. MATICBTC has shown great resilience, amazing strength because it remains trading near its All-Time High while the entire cryptocurrency market was going through a terrible bear market. Now, we have many technicals that support the bulls such as a strong RSI and prices trading above EMA50, so why avoid a chart like this one? The markets are unpredictable... Anything can happen at all times and this chart is a great example. Now, the only way to trade spot on is on the long side... The lower the price, the higher the potential for growth. The higher the price, the higher the potential for a drop. While this pair can continue to grow for years to come... We have a double top long-term, one in May 2021 another one in November 2022. This is not good. We look for pairs that are bottomed out or trading near a strong support. Once support is tested and holds there is high probabilities for prices to move up. In case a breakout fails, we have a tight stop-loss. 5%-15%. While on a chart like this one there is lots of room for prices to drop. Here are some examples of charts where you see support being challenged an a potential for the trend to reverse: ✳️ Chiliz vs Bitcoin | Very Interesting (66 to 114% Potential) ✴️ Fantom Looking Like July 2021... 2,180% Wave To Go UP! ✳️ Kava Rebound Points To Easy 40%, Up To 100% Possible ✳️ Ethereum Classic vs Bitcoin Fully Mapped (70% to 198%) ✳️ Zcash About To Print Strong 100%+ Growth! Notice that they are bottomed out while MATIC is trading near its All-Time High. Thank you for sharing. Namaste.
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by AlanSantana
1