MATIC - HOT ALT🔥, but Bearish SHORT TERM📉Hi Traders, Investors and Speculators of Charts📈
MATIC has been very profitable to us so far; watch my previous update HERE:
If you've been following, you'll know I'm fundamentally bullish on MATIC. And it gets better than fundamentals - you could possible see a low entry point soon!
Polygon is unique in that it's a blockchain platform designed to work with another blockchain platform. It improves Ethereum's scalability - which we all know if the biggest problem of ETH. ETH dApps can use Polygon's sidechains, thereby making it a functional and fundamentally great choice as an altcoin asset.
One of the exciting things about Polygon is the partnerships it has established. Many big brands are working with Polygon to launch their NFT projects. Current partners include:
✅ Walt Disney
✅ Starbucks
✅ Meta Platforms
✅ Nike
✅ Mercedes
✅ Google
✅ Adidas
✅ Adobe
✅ Mastercard
✅ Reddit
While it might not pump as hard as other altcoins, it's also far less likely to fail than smaller , newer cryptos with similar aims - and it still has plenty of room to grow. Its partnerships make it an interesting buy for those who are interested in a well diversified portfolio, containing assets with real-world use case and strong fundamentals.
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BINANCE:MATICUSDT
MTCUSD trade ideas
Liking MATIC, market turning after a brief reversal?I am expecting to see the most recent bearishness in the market see a turn around. I use BTC as the guide. I like the support shown throughout the low 60s over the last night. The volume of for MATIC in the .95-1.00 range make is giving me evidence that if the 21 EMA starts to turn around that continued bullishness would support a 1.30-1.50 range for the next week.
Buy PolygonPolygon is looking like a real winner! If the daily price candle breaks out past the previous day's high, it could soar all the way up to $2.93! And the best part? It's currently at a support zone, which means it's a great opportunity to buy in. With the recent surge in Ethereum, Polygon is bound to follow suit and make some serious gains in the next month or so. This is definitely a time to be excited about the market!
Remember, never chase coins; let the market come to you!
MATICUSDT bearish trendMATICUSDT is in bearish trend and its showing LL and LH.
Piercing top can be seen.
#Matic Elliot's ScenarioIn the daily and weekly time, it is moving in an upward channel for a while, and the current wave is the 5th wave of the 3rd wave. This larger cycle should not enter the range of 60 cents, in which case there will be an overlap and the analysis will be invalidated. But in the bigger time, which I will present after completing the current step, we will examine the possibility of a bigger super cycle that will also form a flag.
longs for matic (entry ideas)In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole
$MATIC INVERTED HAMMER GREEN CANDLESTICKCRYPTOCAP:MATIC is printing an inverted hammer green candlestick on the 1 hour chart.
The Green Inverted Hammer is also known as a Bullish Inverted Hammer, it is a candlestick pattern that suggests a change in the current market trend. The Green Inverted Hammer is the opposite of the Red Inverted Hammer. The Green Inverted Hammer implies a bullish reversal signal, whereas the Red Inverted Hammer is seen as a bearish continuation pattern.
$MATIC is big ship, moves deliberately. Possible 13%-100% RunBig market cap, big ships, don't always move the fastest but if you look at the DAILY chart it's not a bad prospect for a steady UP trend for the next 4 months. CRYPTOCAP:MATIC has broken above the channel but it needs a few more days of consolidation it seems and then hopefully more UP.
Long MaticMatic looks to be breaking this larger and longer-term Cup and Handle neckline. Additionally, all of my proprietary blend of signals are flashing green rn. And finally, we have the bulk of our trading volume on the underside. Final target will be $1.75 with profit taking along the way. SL can be somewhere just below that descending blue TL, adjusting into time. RRR is 3/1 on this one.
Leveraging Bearish Divergences to Ride Polygon Matic's MomentumPolygon Matic is one of the hottest altcoins right now, no doubt! We're feeling pretty optimistic too, eyeing a (tentative) target price of around $1.70. However, we're not jumping on the bandwagon blindly. We've spotted some bearish divergences on the OBV, but that's cool because it's giving us a smart move to make! We're gonna play it smart, wait for a dip, then hop in with a Buy-Limit-Order just above $1.10 to catch that upward trend. So we're turning that bearish signal into an opportunity to boost our risk-reward ratio.
Riding the Fibonacci Wave: A Strategic Approach to Price PolygonTitle: Riding the Fibonacci Wave: A Strategic Approach to Price Targets
Introduction:
In the dynamic world of financial markets, traders are constantly seeking reliable tools to forecast price movements and identify potential reversal points. Fibonacci retracement levels have emerged as a popular and versatile technical analysis tool, providing traders with a systematic approach to understanding market trends. When applied judiciously, Fibonacci retracements can offer valuable insights into potential price targets, enabling traders to navigate the markets with increased precision.
The Ascent: Riding the Fibs Upward:
As an asset experiences an upward trend, savvy traders often turn to Fibonacci retracement levels to gauge potential resistance and project future price targets. By applying the Fibonacci retracement tool from the swing low to the swing high, traders can identify key levels where the asset may encounter resistance during its ascent. The retracement levels, such as 38.2%, 50%, and 61.8%, act as potential support zones, offering strategic entry points for those looking to ride the upward momentum. As the asset climbs, traders closely monitor these Fibonacci levels, adjusting their positions and leveraging the insights provided by the Fibonacci retracements to optimize their risk-reward ratios.
The Descent: Navigating the Retreat:
However, markets are inherently volatile, and trends rarely move in a straight line. Understanding the potential retracement levels during a pullback is equally crucial for traders seeking to maximize profits and minimize risks. As the asset retraces from its peak, traders can utilize Fibonacci retracement levels from the recent swing low to the swing high to identify potential support zones. These levels, including 38.2%, 50%, and 61.8%, serve as crucial areas where the asset may find support before resuming its upward trajectory. Traders employ a disciplined approach, combining Fibonacci retracements with other technical indicators, to validate potential reversal points and make informed decisions as the market retreats.
Hitting Targets: Precision in Profit-Taking:
Successfully navigating both the upward and downward movements using Fibonacci retracements allows traders to set precise profit targets. By strategically placing take-profit orders near key Fibonacci levels, traders aim to capitalize on market movements with a calculated approach. This method provides a structured framework for profit-taking, allowing traders to secure gains as the asset hits predefined Fibonacci targets. In this way, the combination of riding the Fibonacci wave upward, navigating the retracement, and hitting profit targets offers traders a comprehensive strategy to enhance their trading success in the dynamic world of financial markets.
MATIC Polygon 6 hour chart Bearish Divergence MATIC POLYGON we failed to put in a higher RSI on the 6 hour chart. Money flow appears to be trending downward, and we may have double topped. I could see a retest of the bottom trendline of the larger equal triangle form on the weekly chart. With the break above the upper trendline on the weekly chart, I'd expect a coiling up leading to expansion that I don't recognize on the charts. Shorts should be out by now with the break of the upper trend, and nothing is happening to the upside. I'd like to be wrong and see the price move upward. I exited my MATIC position about 12 hours ago, and I am not shorting. One, because it's over the 200 MA and in the U.S, futures trading is not available or I might. Just for disclosure purposes.
MATIC Weekly Chart 21 EMA Crossing 55 EMAMATIC Polygon has broken out of the upper trendline of an equal triangle it has been in on the weekly logarithmic scale. The RSI has been relatively flat making the price higher and RSI lower in the recent trend. Money Flow is on the rise. Clearly a Bullish trend if we can back test and hold support of the upper trend line. I'm cautious!
I opine the current monetary policy in the U.S. doesn't support new buyers in the crypto space or any other risk asset. I realize crypto is traded globally, but who are the buyers pushing up the price? I exited my MATIC position 12 hours ago and intend to wait for firm retest of the upper trendline, and I'm not shorting above the 200 MA.
What am I missing that is preventing me from going all in with this Bullish setup? Please comment and I, We might learn something. I consider myself a novice only being in the space for a few years, and I just don't trust my TA.
Peace
MATIC (Y24.P1.Video1).Finding levels of impportanceHi Traders,
This one is good for those who want to find levels of importance which is our groundwork prior to trading the levels using SFP's or Failed Auctions.
On the macro perspective, we use other strategies that is not covered here but again, these levels played the role for decisions.
We used 3rd party tools as well and maybe there are scripts here on Tradingview that also do the same. I know there is some but how well they do it, I have not checked.
Moving forward, if you want to ask questions about this approach, I will point you in the right direction.
All the best,
S.SAri
Current resistance, VAH
completed
$MATIC My First Elliot Wave ChartThis is my first attempt at using Elliot Wave Theory to make a price prediction. This one on MATIC. This is the daily chart. Let's see how it plays out. MATIC just made a big jump to the upside. Please feel free to offer advice or commentary as I'm just starting to publish ideas. I often get things right, but struggle to trust my own analysis. I am holding MATIC as a disclaimer.
NFA DYOR
MATIC Price Eyes $2 With This BreakoutBullish Reversal Above $1: MATIC's price surpasses the crucial $1 mark, indicating a strong bullish momentum in the market.
23.60% Fibonacci Level Breakout: Polygon (MATIC) showcases a bullish breakout, surpassing the 23.60% Fibonacci retracement level, signaling potential for further gains.
Potential Bull Run to $2: The current trendline breakout and market dynamics project a possible uptrend towards the $2 mark.
New 52-Week High: MATIC achieving a new 52-week high suggests strong investor confidence and market sentiment towards Polygon.
Double Bottom Breakout: This chart pattern indicates a significant bullish reversal, enhancing prospects for a sustained bull run.
Support from Tech Giants: Meta's selection of MATIC for Instagram’s digital collectibles and Google Cloud's ownership highlight institutional support and confidence.
Challenging Overhead Resistance: MATIC is poised to challenge key resistance levels, fueled by the current bullish momentum.
Increased Trading Volume: A rise in trading volume supports the bullish trend, indicating heightened market activity and interest.
Daily RSI Approaching Overbought Zone: The RSI nearing the 70% mark reflects growing buying pressure and bullish sentiment.
Trendline Breakout to $1.5 and Beyond: The trajectory towards the $1.5 mark sets the stage for MATIC to target the $2 barrier, backed by strong technical indicators.