Polygon Warning Signs Point To Slide In MATIC Price On Support Breakdown
Polygon (MATIC) has been experiencing a mix of price action, with a 24-hour rally of 3.5% that hints at potential positive movement. However, the coin has suffered a 4.4% slump over the past seven days, indicating underlying bearish sentiments in the market. Despite the short-term surge, the weekly time frame presents a negative outlook, primarily due to the failure to break through a long-term horizontal resistance. Adding to the bearish pressure, an ascending trendline has been broken, signaling a potential further decline in MATIC’s price. Source: Coingecko One of the significant....
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The price of Polygon (MATIC) has struggled to stay above the key support zone of $0.8 as the price of Bitcoin (BTC) showed indecision for weeks as the price moved in a range for weeks between $19,500-$20,000 with the price stalling on the next movement. This has affected the price of altcoins, including Polygon (MATIC), as prices dropped below $0.8 but reclaimed that region quickly. (Data from Binance) Related Reading: Why Ethereum Price Longs Might Profit Ahead Of “The Merge” Polygon (MATIC) Price Analysis On The Weekly Chart The price of MATIC has had a difficult time replicating its....
MATIC price trades below 50 and 200 EMA on the daily timeframe despite showing some relief strength. MATIC rally caught short as BTC price continued to range. The price of MATIC must hold $0.72 support or face a drop-down to a weekly low. Polygon (MATIC) price showed some bullish strength recently, but the price has struggled to break above key daily resistance against tether (USDT). The price of Polygon (MATIC) has continued to range as bulls sweat over a potential break of the key support zone holding the price of MATIC from having a spiral down to a weekly low. (Data from Binance)....
MATIC’s price remains strong despite price facing rejection from a high of $0.8 as the price holds above the key support area. MATIC breaks out of a descending triangle as the price looks strong despite Bitcoin (BTC) dragging market prices down. The price of MATIC trades above key support of $0.77 as the price continues to trade above 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe. Polygon (MATIC) price has held strong above the key support area after breaking out of its descending triangle and assuming a bullish price movement against tether (USDT) as BTC....
MATIC’s price slowed down after showing so much strength as it rallied to a high of $0.97 but got rejected as the price rallied downward. MATIC could suffer retracement as the price site on a crucial support area, holding the price off from sellers with hopes of a rebound. MATIC’s price remains strong on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA). The price of Polygon (MATIC) showed some incredible price action as the price rallied from a low of $0.35 to a high of $1.2 before facing a rejection back to its key support of $0.77,....
Polygon was one of Tuesday’s notable gainers, as the token rose to its highest point since mid-September. Today’s surge saw prices of the cryptocurrency rise for a third straight session. Cosmos also extended recent gains, climbing to its strongest point in recent days.
Polygon (MATIC)
Polygon (MATIC) was a notable gainer on Tuesday, as the token rallied for a third consecutive day.
MATIC/USD surged to an intraday peak of $0.876 earlier in today’s session, less than a day after trading at a low of $0.8293.
This move saw the token climb....