By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Polygon (MATIC) Held By A String, Will Bears Cut The Rope?
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Polygon (MATIC) Held By A String, Will Bears Cut The Rope?
crypto

Polygon (MATIC) Held By A String, Will Bears Cut The Rope?

admin Published September 30, 2022
Last updated: 2022/09/30 at 12:28 AM
Share
SHARE

[ad_1]

  • 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)

Contents
Polygon (MATIC) Price Analysis On The Weekly Chart Price Analysis Of MATIC On The Four-Hourly (4H) Chart

Polygon (MATIC) Price Analysis On The Weekly Chart 

The price of MATIC showed incredible strength rallying from a weekly low of $0.3 to a high of $1, with many investors and traders left astonished as to this movement in a bear market that has brought nothing but a tough moment for most crypto projects.

MATIC’s price has recently declined after bouncing from its weekly low of $0.3 as a price rally to a high of $1 before facing a stip rejection, and the price has struggled to re-establish its bullish trend.

MATIC’s price remains just a hair above a key support area above $0.72; this area of support is acting as a good demand zone for buy orders. For MATIC to have a chance to trend higher, the price must break through its weekly resistance of $1.

For the price of MATIC to restore its rally, the price needs to break and hold above the $1 resistance with good volume. If the price of MATIC keeps rejecting $0.75, we could see the price going lower to retest $0.6 support and possibly a lower support area of $0.45 on the weekly chart if there are sell-off.

Weekly resistance for the price of MATIC – $1.

Weekly support for the price of MATIC – $0.72-$0.6.

Price Analysis Of MATIC On The Four-Hourly (4H) Chart

Four-Hourly MATIC Price Chart | Source: MATICUSDT On Tradingview.com

MATIC continues to trade below key resistance in the 4H timeframe as it attempts to break out of its range movement.

After forming an ascending triangle as the price attempts to break out of its downtrend range, the price of MATIC has shown strength as it faced rejection.

The price of MATIC is $0.75 lower than the 50 and 200 Exponential Moving Averages (EMA). On the 4H timeframe, the prices of $0.75 and $0.8 correspond to the prices at the 50 and 200 EMA for SOL.

If the price of MATIC breaks and closes above $8, it could rally to a high of $1.

Daily resistance for the MATIC price – $0.8-$1.

Daily support for the MATIC price – $0.72-$0.7.

Featured Image From The Daily Hodl, Charts From Tradingview 

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 30, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article It’s a sprint, not a marathon
Next Article 8 investors weigh in on the state of insurtech in Q3 2022

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?