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MTCUSD trade ideas

Polygon at Key Support Zone - Will It Bounce to 0.4700?COINBASE:MATICUSD has reached a significant support level that has previously attracted buying interest, often resulting in bullish recoveries. This level aligns with previous market reactions, highlighting its role as a key area to watch. If the support holds and bullish confirmation emerges—such as bullish engulfing candles or long lower wicks—a move toward the 0.4700 level is anticipated. However, if the support is broken, the bullish outlook could be invalidated, opening the door for further bearish momentum. Traders should closely monitor this zone for signs of buyer strength before considering long positions. As always, risk management is essential to mitigate potential losses.
COINBASE:MATICUSDLong
by TrendDiva
1
MATIC returning to equilibrium would be a 128% gain from here!MATIC is looking extremely undervalued at current levels. The price has pulled back considerably since the "Trump election pump" and is forming a nice wedge on the 4-hour chart, which is currently on a four-count. A price move back to equilibrium from the wedge's bottom trendline would, by itself, result in approximately a 128% gain. Longer term, if the price breaks out of the monthly chart wedge pattern (see comments below for the chart), which is also currently trading at a four-count, we could see some incredible price appreciation over the next 6 to 9 months. Good luck, and always use a stop-loss!
CRYPTO:MATICUSDLong
by MetaShackle
3
POL/USDT | 1W🩸 PSX:POL ⁀➷ #Polygon. Macro chart Another 💯 Intermediate Target - $0.85 🚩 Macro Target 1 - $1.20 🚩 Macro Target 2 - $1.70 🚩 Macro Target 3 - $2.45 - Not financial advice, trade with caution. #Crypto #Polygon #POL #Investment #L1 ✅ Stay updated on market news and developments that may influence the price of Matic. Positive or negative news can significantly impact the cryptocurrency's value. ✅ Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility. ✅ Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for various scenarios. Trade only with funds you can afford to lose and avoid excessive risk-taking.
CRYPTO:MATICUSD
by Nyskohuz
1
VARAUSD and MATICUSD Correlation PointsVARAUSD dropped a massive 85% after initial pump when listed on Coinbase. We will mark this bottom as correlation point 1 even though as I will demonstrate the market for VARA is out of balance and is due a significant pump. On the left VARA percentages are shown. On the right MATIC percentages are shown. In march notice that from the correlated high (not the ultimate high) from march until November VARA dropped 88%. In the same time period MATIC dropped a significant 78%. This leaves VARA at this point a negative 11% The pump TRUMP PUMP that started in november delivered a 154% pump for VARA and a 163% pump for MATIC a difference of negative 11% roughly. Currently, VARA remains 10% negative to MATIC. This is not the result of VARA being a less favorable buy but rather that due to it's low market cap movements are exagerated and wild. In this regard the Market owes VARA approximately 10% to 20% upward movement which will come unless VARA pulls MATIC down to an equivalent level. With regards to correlation, both assets pull upon each other like the moon and the earth pull upon each other. One is bigger and has more impact on the other but ultimately persistance of the lesser or smaller asset can aggressively pull the other down especially when very large market moving INDEXES such as DXY and BTC have substantial negative moves. Currently today at close last night, DXY and USDX closed high again hitting a very heavy resistance zone. This is bullish for BTC which is why between today and Tuesday we could see BTC move up again. This along with negative movement in the FX currency markets our altcoin and risk assets could finally see a little bit of light since we several markets have come to a head and a decision point. I am not a financial advisor, stay safe my friends.
COINBASE:MATICUSDLong
by fritbjorn
VARAUSD and MATIC - Further Comments on CorrelationAs you can see whenever MATIC and VARA prices decended following that last pump the initial difference in price drop from the local high to local low was VARA 12% loss in price and MATIC 10% in price roughly. This morning VARA pumped and has now normalized it's correlation with MATIC having now just under a 10% drop in price on average from the local high to current price. On an average day correlated assets move together and stay within a small percentage point of the same price point. I am not a financial advisor, be careful my friends.
COINBASE:MATICUSDLong
by fritbjorn
2
VARAUSD How To Spot Manipulation - Correlation and ConfluenceFocusing only on the set of candles inside of the green box. Notice how VARA pumped in the early hours of the morning. At that time however MATIC was in the process of an indecision candle and even signaling a drop in price. Following this little pump MATIC remained flat and VARA quickly began descending down to its corrected average level. I consider this as manipulation because even though it probably isn't the fact that large buy orders impacted the price at a percentage that is high enough to awaken breakout traders who make a habit of buying early morning breakout moves. It just goes to show that on an average day one should consider correlation in their decision making as well as comparison with the other correlated markets such as DXY, BTC, and the stock indexes. Confluence can strengthen a traders decision to buy especially if order flow data agrees with the trade. I am not a financial advisor, be careful my friends.
COINBASE:MATICUSDLong
by fritbjorn
VARAUSD vs MATICUSD - This is a bull flagIf you only trade the VARA chart without understanding how the market is trading within the lines of correlation, you will mistaken one pattern for another. The two market patterns I have circled are both bull flags. The problem is that VARA has a much lower amount of liquidity i.e. standing buy orders to support lower order walls. This causes patterns on this chart to become smeared. This is why a trader must always compare against correlated assets. Which is why my chart will often have Polygon right up next to VARA even though VARA is probably going to show a little tigher correlation with Polkadot. It is a preference I. DXY, USDX, and a number of other indexes correlate to Bitcoin however often either against or with and overall doesn't change much on the daily. It doesn't take long to see correlation since often whenever USDX or DXY goes up JPYUSD or BTC will fall. Reverse correlation most of the time although JPYUSD has been a bad example overall since that asset typically tanks long term. And going back to the current chart, the chart patterns are ugly and the overall market structure is full of volatility, fear and greed. I use this to my advantage.
COINBASE:MATICUSDEducation
by fritbjorn