altFINS

Manta Network

Verge

Captain

Polygon

<p>According to prominent crypto trader <a href="https://twitter.com/CryptoFaibik/status/1749668284239368312" target="_blank" rel="noreferrer noopener nofollow">Captain Faibik</a>, Polygon’s native token MATIC is on the verge “<em>of a Massive Triangle Breakout on the Macro timeframe chart</em>.” A decisive breakout could mark the start of a new bull run in MATIC’s price.</p> 
<p>Indeed, MATIC does appear to be approaching an inflection point, according to analysis by altFINS. MATIC has formed a sideways channel between $0.75 and $1.00 on the daily timeframe.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="489" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-1024x489.png" alt="" class="wp-image-427111" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-1024x489.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-300x143.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-768x367.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-1536x734.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-2048x979.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-314x150.png 314w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-100x48.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-732x350.png 732w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661-788x376.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-661.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>This marks a zone of uncertainty, with the price rejecting moves above $1.00 resistance on multiple occasions over the past month.</p> 
<p>altFINS notes that a <em>“breakout from the Channel, above $1.00 resistance, could clear the way for price to revisit $1.25 next.”</em> That would represent a 25% move from current levels and align with Captain Faibik’s triangle breakout thesis.</p> 
<p>On the other hand, failing to overcome the $1.00 hurdle could see bearish momentum resume. MATIC showing weakness at channel support around $0.75 would pressure prices back towards the $0.60 level and the 200-day moving average near $0.67.</p>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<p>So in summary, MATIC appears to be approaching an inflection point at the upper boundary of its recent trading range. The bullish scenario is a breakout above the $1.00 resistance on improving momentum.</p> 
<p>But MATIC has struggled to build upside traction in recent weeks. Fading at $1.00 resistance again could open the door for a retest of the 200-day MA near $0.67. Traders will be closely watching to see whether MATIC can finally overcome its near-term hurdles for a bullish upside breakout.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/xrp-ripe-for-a-bounce-back-after-this-indicator-issues-a-buy-signal-for-ripple/" target="_blank" rel="noreferrer noopener">XRP Ripe for a Bounce Back After This Indicator Issues a “Buy” Signal for Ripple</a></li> 
 <li><a href="https://captainaltcoin.com/bitcoin-correction-is-not-over-yet-analyst-says-btc-could-hit-120000-if-this-happens/" target="_blank" rel="noreferrer noopener">Bitcoin Correction Is Not Over Yet, Analyst Says BTC Could Hit $120,000 If This Happens</a></li> 
 <li><a href="https://captainaltcoin.com/manta-network-manta-ondo-ondo-option2trade-o2t-gear-up-for-2024-bullrun/" target="_blank" rel="noreferrer noopener">Manta Network (MANTA), ONDO (ONDO) &amp; Option2Trade (O2T) Gear Up for 2024 Bullrun</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-nuggetrush-nugx-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check NuggetRush ($NUGX)</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy NUGX Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/polygon-matic-is-on-the-verge-of-a-massive-triangle-breakout-analyst-shares-nearest-support/">Polygon (MATIC) is on ‘The Verge of a Massive Triangle Breakout,’ Analyst Shares Nearest Support</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Polygon (MATIC) is on ‘The Verge of a Massive Triangle Breakout,’ Analyst Shares Nearest Support

Table of Contents

CaptainAltcoin

Other articles published on Jan 23, 2024

Bitcoin Price Prediction: As Arthur Hayes Prepares For BTC To Slump To $35K, This Bitcoin Derivat...

Ethereum’s Market Struggle: A Recent Analysis

Cardano (ADA) Remains #1 Cryptocurrency In This Metric

Cointelegraph, others sent phishing emails in presumed hack

TIA Crypto Price is at Make or Break Zone of $15; What’s Next?

Sen. Lummis: Crypto not the problem, bad actors are

Join our free newsletter for daily crypto updates!