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MATICUSDT trade ideas

MATIC/USDT Daily Technical AnalysisBINANCE:MATICUSDT The chart is a daily chart of MATIC/USDT (Polygon/Tether) . Here are some key observations and technical analysis based on the chart: 1. **Current Price**: The current price of MATIC is around 0.5851 USDT. 2. **Demand Zone**: There is a highlighted demand zone below the current price level, indicating potential support where buyers might step in. 3. **Supply Zones**: - Around 0.9789 USDT: This is a significant supply zone where sellers might exert pressure, potentially causing the price to reverse or face resistance. - Around 1.2900 USDT: Another supply zone where significant selling pressure can be expected. 4. **Volume Profile**: - The volume profile on the right side of the chart indicates areas with high trading volume which act as support or resistance. Notable volume nodes are visible around 0.6200 USDT and 0.6798 USDT. 5. **Fibonacci Levels**: - There's a Fibonacci retracement level around 41.52% and 58.48%, possibly aligning with the supply zones. 6. **Price Action**: - The price has been in a downtrend since early April. - There are marked POIs (Points of Interest) at 18, 21, 22, and 23 levels on the chart, which might represent significant areas of support/resistance based on historical trading activity. ### Technical Indicators and Strategies: - **Support and Resistance**: Watch for price action around the demand zone and the supply zones. The demand zone below the current price could act as a strong support level. - **Volume Profile**: Areas with high volume can provide additional confirmation for support and resistance levels. - **Fibonacci Retracement**: Use the Fibonacci retracement levels to identify potential reversal points. ### Potential Trading Strategy: - **Long Position**: If the price shows strong support around the demand zone and begins to rise, it could be an opportunity for a long position, targeting the nearest supply zone (around 0.9789 USDT) for profit. - **Short Position**: If the price fails to hold the demand zone and breaks below, consider a short position, targeting lower levels such as 0.4900 USDT or further based on the downtrend continuation. ### Summary: - **Current Support**: Around the demand zone below the current price of 0.5851 USDT. - **Current Resistance**: Around the supply zones at 0.9789 USDT and 1.2900 USDT. - **Volume Profile**: Key levels to watch are 0.6200 USDT and 0.6798 USDT. - **Trend**: The overall trend appears bearish, with a potential reversal if strong support is found at the demand zone.
MLong
by Motivation_Voice
MATIC polygon analysisThere was a fall alert from about $1.20 because btc said so. I assumed that, you didn't know that? Then I know you didn't follow my btc analysis. Matic tells us what the market situation of other coins will be in the near future. A 30% drop is not surprising, we exist in a pyramid scheme, this is normal. My real giga deal is point c, not the giga level in the analysis. If this level is reached, it is perfect. btc decides where point c lands!! I could be wrong, but it could be absolutely true
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by MoralDisciple
4
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 $0.6449 is pivotal. 🧠💼Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
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by itsparham96
4
MATIC - Ranges overview Here is a quick look into what I will be looking at on MATIC We are currently trading below the ranges lows. In comparison to other trades this is a long term trade and PATIENCE is KEY IF we reclaim and hold 0.75$ expect us to hunt the buyside liquidity resting around 1.1710$ IF we fail to break and hold above 0.75$ expect us to trade back towards the sellside liquidity resting around 0.5835$ Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
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by Patrick2707
MATIC/USDT A successful breakout the resistance will be bullish!💎 Paradisers, MATIC is indeed displaying intriguing movements that warrant close attention. 💎 Currently, in the accumulation phase, MATIC has shown resilience by bouncing when it reached the demand area around 0.696 to 0.675. This suggests a potential continuation of the upward movement, aiming to confront the resistance of the accumulation phase. 💎 If MATIC successfully breaks above the resistance at 0.77, it could signify a bullish momentum, potentially leading to significant upward movement with the target set at the supply zone around 0.91. 💎 Breaking above the supply zone is essential for reinstating a bullish trend in the mid-term and could pave the way for reaching our target strong resistance area. 💎 However, if MATIC faces rejection at the resistance area, it may retreat to retest the demand zone, or even descend further to the strong support area around 0.631. Historical data indicates that MATIC tends to bounce back upward when reaching this strong support level. 💎 The bullish scenario would be invalidated if the daily candle closes below the strong support area. In such a case, there's a possibility of further downward movement and deeper dips in price. MyCryptoParadise iFeel the success🌴
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by MyCryptoParadise
Polygon (MATIC) Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. the Matic price has recorded more than 10% gains in the last seven days despite the broader crypto market’s sluggish conditions plus matic has been gaining daily active addresses (DAA) during this bullish price action. DAA figures spiked by over 60% in the span of just a few days. Onchain data also highlighted that over the last seven days, new addresses jumped by 12% while active addresses noted a 19.98% uptick. usdt pair looks good but btc pair looks even better and in short period of time matic can hit 0.9 , 1.1 , 1.3 and 1.5 dollar.
MLong
by moonypto
12