Polygon

<p class="p1" style="text-align: justify">Technical analysis is an essential tool for investors, especially those trading in the futures <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>, in the cryptocurrency market. So, what does technical analysis tell us about <a href="https://en.coin-turk.com/indian-government-certifies-on-polygon-network-creating-more-real-world-use-cases/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Polygon</a> (<a href="https://en.coin-turk.com/whale-accumulation-strengthens-matics-price-performance/" data-wpel-link="internal" rel="noopener noreferrer nofollow">MATIC</a>), currently trading at $0.8726, and Avax, trading at $22.52? Let’s take a detailed look at their charts, important support and resistance levels.</p>
<h2 class="p1" style="text-align: justify" id="polygon-matic-chart-analysis">Polygon (MATIC) Chart Analysis</h2>
<p class="p1" style="text-align: justify">The first notable formation on the two-hour chart of MATIC is the ascending channel pattern. Despite the recent decline, MATIC is still experiencing a crucial phase, with significant support in focus. The absence of any bear or bull traps in the formation structure highlights its importance. However, a breakdown of support will lead to a substantial price drop for MATIC.</p>
<p class="p1" style="text-align: justify">The notable support levels for MATIC are $0.8651, $0.8411, and $0.8025, respectively. Particularly, a two-hour candlestick closing below $0.8651 will cause a significant loss of momentum in the price. However, the real danger will occur if the candlestick closes below $0.8411.</p>
<p class="p1" style="text-align: justify">The resistance levels to watch for MATIC are $0.8862, $0.9238, and $0.9630, respectively. Especially, a two-hour candlestick closing above the significant obstacle at $0.9630 will contribute to a significant momentum gain in MATIC’s price.</p>
<p><img decoding="async" class="aligncenter wp-image-277309 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/matic-grafik-analizi.png" alt="" width="2510" height="1154"></p>
<h2 class="p1" style="text-align: justify" id="avax-chart-analysis">Avax Chart Analysis</h2>
<p class="p1" style="text-align: justify">AVAX experienced a significant momentum gain with the breakout of the descending channel formation. Despite the EMA 200 level being at $12.24 (red line), AVAX is currently trading at $22.47 due to recent upward movements. However, a noticeable decline is observed in the recent candlestick formations.</p>
<p class="p1" style="text-align: justify">The important support levels to pay attention to for AVAX are $19.82, $17.75, and $16.13, respectively. Especially, a candlestick closing below $19.82, along with remaining below the EMA 7 and EMA 21 levels, may lead to a significant loss of momentum for AVAX.</p>
<p class="p1" style="text-align: justify">The resistance levels to monitor for AVAX are $24.06 and $26.31, respectively. Particularly, a closing above the significant obstacle at $24.06, witnessed during the recent upward movement, will enable AVAX to gain momentum.</p>
<p><img decoding="async" class="aligncenter wp-image-277310 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/avax-grafik-analizi.png" alt="" width="2528" height="1172"></p> Continue Reading: <a href="https://en.coin-turk.com/technical-analysis-of-polygon-matic-and-avax-key-levels-to-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/technical-analysis-of-polygon-matic-and-avax-key-levels-to-watch/</a>

Technical Analysis of Polygon (MATIC) and Avax: Key Levels to Watch

Table of Contents

COINTURK NEWS

Other articles published on Nov 16, 2023

B2BinPay’s v18 Release: Redesigned Interface & Notabene Integration

BlackRock: High Hopes for SEC’s Bitcoin (BTC) ETF Approval; VeChain (VET) and InQubeta (QUBE) Set...

Bitcoin (BTC) and Crypto Will Continue to Fly: Bullish Prediction by Arthur Hayes

Bakkt Adds Support for Six New Tokens, Expands Custody Services

Marathon stock jumps 11% amid global expansion

Commerzbank to offer crypto services in Germany

Join our free newsletter for daily crypto updates!