MATIC → Clear Shot to $1.00!? This Chart Answers that Question.Polygon broke out of the 200EMA resistance and ran to the upside to flirt with the $1.00 price point in mid-November. We've now seen a two-legged pullback from that price and a double bottom seems to have formed. Does that mean we're ready to try for $1.00 again?
How do we trade this?
We do have many of the required conditions to get long! But we do need to wait on one more condition to give us the optimal probability for our long trade. A bull candle closing on or near its high is the final step and it looks like the current Daily candle could deliver! Once you see that close, it's reasonable to get long and go for a standard 1:2 Risk/Reward ratio, protective stop below the Daily 200EMA and set a profit target around the previous high of $0.95.
Also, be prepared for the bullish scenario to fail. Keep an eye on Bitcoin as a leading market indicator to see if it succeeds in breaking the Weekly Resistance. If Bitcoin reverses at the $39,000 - $40,000 level, watch MATIC's response closely and be prepared to get out of your long. Look for a strong bear bar closing on or near its low with followthrough.
Trade Idea
Long Entry : $0.77
Stop Loss: $0.70
Take Profit: $0.91
Risk/Reward Ratio: 1:2
Key Takeaways
1. Bull breakout of the 200EMA, Trending Bull!
2. Followed by Two-Legged Pullback, Ended Nov 23rd.
3. Double-Bottom Reversal, waiting for close of Strong Bull Candle.
4. RSI above Moving Average and around 55.00. Bias to Long.
5. Watch MATIC and Bitcoin for reversal signals, use caution.
You are solely responsible for your trades, trade at your own risk!
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MATICUSDT trade ideas
Matic/ usdt interesting chart i can count the matic/usdt chart one of my top chart ,testing fib 0.786 level again , with high probability will be one of the top coin winner for coming weeks. very good to hold on spot .
Entry : DCA 0.53-0.55 $
TP#1 : 0.78$
TP#2 : 0.92$
TP#3 : 1.05$
will not have any stoploss for now
Matic breakout from descending channelalthough matic has not been in a good move recently, its new breakout form the descending channel shows some momentum to come.
target at 0.95 as for t previous closes on 4H candles.
MATIC BULLS TO TAKE OVERHello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX
If you like the idea, do not forget to support with a like and follow.
MATIC BULLS TO TAKE OVER!
As we can see price is still overall bearish making clean lower lows and lower highs!
However, price is approaching a massive support zone, where we will be looking for new longs.
Meanwhile, for the bulls to take over, we need a momentum candle close above the marked major swing high, Then a movement higher would be expected.
If you like this kind of analysis don't forget to like and follow
and as usual follow your trading plan and manage your risk.
Be patient and good luck!
MATICUSDT - D1\H4MATICUSDT
D1 - The price is in a corrective movement after a strong impulse, the movement may continue to the level of 0.640 from these levels, you can look for a pattern to enter a buy. Or wait until the trend line level is fixed and consider buying.
H4 - The price has formed a triangular formation, and potentially a 3-wave formation. You can try to buy from current levels or on breaking through the 1st wave with targets to levels 0.98 - 1.00
What can you expect?
After fixing the level of the upper border of the border, the entry can be considered from level values of 0.77 - 0.79. Cancel the idea, return to level 0.72
Long
Targets 0.8456 - 0.8764 - 0.9220 - 0.9823
MATIC USDTMajor Fair value gaps to be filled upside. Downside Liquidity remians. But upside liquidity is huge. Strong holding needed. You cant DCA in 0.72 region.
buy spot matic matic I see a series of data that the whales are collecting Green range 0.63, if it reaches, I will buy a spot step, medium-term hold They don't care, they can buy some now and don't look at it with the loss limit below 0.5
Matic Long1D rsi Bounce 50 Play
1hr Div confirmed
Double Bottom Confirmed
Possible Harmonic Confirmed
1st Wave confirmed
MATIC: Pullback in UptrendPolygon (MATIC) technical analysis:
Trade setup : Following a bullish breakout from Sideways Channel ($0.50-$0.60), price broke above 200-day moving average, which confirmed a bullish trend reversal to Uptrend. Price reached our target of $1.00 resistance where it got rejected and pulled back. How far could it pull back? The nearest horizontal support area is $0.75, which also lines up with a 50% Fibonacci retracement level and could be an attractive swing trade entry in Uptrend, with upside potential back to $1.00. The next support area after that is at $0.69, which is a 200-day MA level and also a 61.80% Fibonacci retracement level.
Trend : Neutral on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral).
Support and Resistance : Nearest Support Zone is $0.75 (previous resistance), then $0.60. The nearest Resistance Zone is $1.00.
#LQR #TOBTC #MaticMatic has a Support Zone around 0.6948 0.6743 which is important
watch out for those resistance around 0.7791 - 0.8488
always DYOR!
MATIC/USDTI have taken full profits on CRYPTOCAP:MATIC it reached my targets, I had a plan, I stuck to my plan and my cup and handle played out. good game whoever joined!
$MATIC Price Action strategy.CRYPTOCAP:MATIC
Polygon on the 1-hour timeframe faced rejection near the 50 EMA line (colored red), favoring the bears as the price broke through the previous support and is now approaching the Optimal Trading Zone (OTZ). It is crucial to remain vigilant, set alerts, and be prepared for the price to descend into this zone. As part of my strategy, a confirmation for a double bottom pattern will be considered if the price closes inside or above the OTZ. This confirmation will serve as the trigger for initiating a CRYPTOCAP:MATIC trade.
Long Matic BINANCE:MATICUSDT
Hey, I think it is worth it to take this trade, Harmonic pattern and Wolfe Wave at the same point, and we had breakout the channel already, UNLESS BTC has different opinion.
Struggling in support 💪Major support line holder matic....
If it bounces back to above the support line, it is Matic Time...
#MATICOn the 2D time frame, there is a bullish pennant pattern that has yet to break. Keep monitoring for a breakout, and upon confirmation, anticipate a potential increase of over 200%.
MATIC USDT SPOTMatic usdt next target is 1.5500$ because it has break the level of upper trendline and also it is at good buying area of 0.7795, accumulate it before it goes up to the target and you miss it, next bull run is going to start so get in that before it started
MaticMATIC is currently pulling back from its fanning bull channel into a bear channel that currently has two pushes down. This could be a 2-legged trap and the completion of the pullback before heading toward the upside.
How do we trade this?
In the short term, we should be looking for shorts since we've identified this bear channel. If the current 4HR candle closes on or near its low, that's a reasonable short setup to take with a tight stop above the bear channel resistance (4HR 30EMA). A 1:2 Risk/Reward ratio should be the target take profit in this setup while keeping a close eye on that 200EMA showing support. If a bull bar closing on or near its high shows itself, time to get out. The RSI is around 45.00 and above the Moving Average, not a strong indicator for either direction, but there is room to fall.
Key Points
1. Bear Channel, Bias to Short.
2. Two Pushes Down, Looking for a Third!
3. The 200EMA may act as support.
4. RSI around 45, Indecisive.
5. Third leg down, small position Short.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
Matic to fall to .69 cents. Brace yourselves!So first of all. You can't ignore that big head and shoulder. It's so beautiful. Broke the neckline then came back and retest the previous support which was strong enough to act as resistance confirmed by that big 4hr engulfing candle or you could say it's like a 3 line strike candlestick pattern it pretty much push down strongly clearing the lower timeframe low . I don't know how to share multiple charts here but if you go down to the 1hr timeframe that big engulfing candle is a 1 hr supply zone .
Yesterday I took a position just based on the 4hr candle with wide stop targeting .69 area. And today I went an added another position base the hour timeframe when price pull back to test the 1hr supply area. It was also in confluence with the 4hr fib 38.2 level . And confluence with 1hr fib 38.2 almost reaching the fib 61.8 level.
Target for the 1hr position is the low at 0.72 or a bit lower to fib -27 on 1hr tf ....or depending on how aggressive price push down if the trade work out I might just hold for longer but the reward is big so profit taking is advise on the way down.
There are more confluences on the ltf but , not being able to show the chart here might confuse people. It's also worth mentioning that the previous day candle closed forming like an evening star candle stick pattern so that's an even stronger pattern confluence.
Also I don't use trendlines really but I just drew one to highlight that it can be used in this scenario to act as additional confluence
MATIC/USDT - H&S Neckline Was Broken !MATIC/USDT is showcasing a classic bearish head and shoulders pattern
with a defined neckline that has recently been broken. As Price has had a nice breakdown, it did not have any re-tests of that same broken zone of neckline.
We are seeing a good chance of our target zone still being reached, but we might see a slight bullish movement, maybe to re-test that same neckline zone.
Swallow Team
MATIC SHORT SCALP 11/23MATIC is completing its head and shoulders. the re-test is complete. safe target bottom of the wedge. May strike deeper as the H&S target is a little lower... but no need to be greedy lol ez peezy
MATIC ANALYSIS🔮 #MATIC Analysis - Both Side Scenario 🚀🚀
💲💲 #MATIC is trading in a descending channel pattern and trying to breakout the channel but rejected from the resistance zone. We may see a rejection till its support area. But if the price of #MATIC breaks and sustain the higher price then will see a pump 📈📉
⁉️ What to do?
- We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸
🏷Remember, the crypto market is dynamic in nature and changes rapidly, so always use stop loss and take proper knowledge before investments.
#MATIC #Cryptocurrency #Support #Resistance #DYOR
MATIC Another Leg Down? Or Will We Bounce To The Upside?MATIC is currently pulling back from its fanning bull channel into a bear channel that currently has two pushes down. This could be a 2-legged trap and the completion of the pullback before heading toward the upside.
How do we trade this?
In the short term, we should be looking for shorts since we've identified this bear channel. If the current 4HR candle closes on or near its low, that's a reasonable short setup to take with a tight stop above the bear channel resistance (4HR 30EMA). A 1:2 Risk/Reward ratio should be the target take profit in this setup while keeping a close eye on that 200EMA showing support. If a bull bar closing on or near its high shows itself, time to get out. The RSI is around 45.00 and above the Moving Average, not a strong indicator for either direction, but there is room to fall.
Key Points
1. Bear Channel, Bias to Short.
2. Two Pushes Down, Looking for a Third!
3. The 200EMA may act as support.
4. RSI around 45, Indecisive.
5. Third leg down, small position Short.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
