Altcoins

Polygon (MATIC) Price Prediction: MATIC Test Multi-Weeks Lows Near $1.30, Downside Risk Remains Intact!

Polygon (MATIC) value motion trades in a good vary on Tuesday. MATIC has been on the continual downward momentum since February 16 with a 35% descent. The formation of a triple backside close to $1.40 suggests a reversal from the present ranges.

  • Polygon (MATIC) value trades with modest features bucking the day prior to this’s pattern.
  • A detailed above $1.50 might reverse the downward pattern.
  • Buyers search an upside of 45% from the present ranges.

As of press time, MATIC/USD is buying and selling at $1.40, down 0.31% for the day. The 16th largest cryptocurrency by the market cap held the 24-hour buying and selling quantity of $1,758,620,513 with greater than 100% features.

MATIC trades close to crucial stage

Polygon (MATIC) has fashioned a ‘Head $ Shoulder’ sample a bearish reversal sample. After the worth of MATIC peaked at $2.92 marking an all-time excessive it retraced again nearly 55% in the direction of the lows made in January.

Supply: Buying and selling View

The promoting stress intensified as quickly as MATIC breaks the neckline of the described buying and selling sample. As the worth sliced under the 200 EMA and 50 EMA essential stage sellers proceed to liquidate their positions. Lastly, the draw back finds some dependable help stage at $1.40.

A spike in shopping for order might push the worth towards the 200-dayEMA (Exponential Transferring Common) at $1.70. Moreover, a decisive shut above the 50-day EMA has the potential to take out the psychological $2.0.

On the flip facet, if the worth breaks the a number of help then the fast draw back goal might be discovered at $1.03. The degrees have been final seen in September.

Technical Indicators:

RSI: The Each day Relative Power Index (RSI) pierced under the common line whereas studying at 35. Any uptick within the indicator might help the upside run within the pair.

MACD: The Transferring Common Convergence Divergence (MACD) holds under the midline with a bearish bias.

 

 

 

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