altFINS

Millions

Polygon

Avalanche

<p>According to crypto trader Teshkid’s <a href="https://twitter.com/MtukufuMtukutu/status/1755081506970653047" target="_blank" rel="noreferrer noopener nofollow">analysis</a>, Polygon’s MATIC token has managed to hold crucial support around the $0.78 level on its recent pullback. As long as MATIC maintains this support, Teshkid sees potential for a relief bounce towards the next resistance at $0.867.</p> 
<p>However, losing the $0.78 support risks a deeper retracement towards the $0.74–$0.76 zone highlighted in red. Teshkid notes that this area represents the next key downside target if the $0.78 level fails to hold as support.</p> 
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<p>Delving deeper into the technical landscape, analytics platform altFINS points out that MATIC finds itself range-bound trading in an emerging sideways channel between $0.75 and $1.00. For trend traders, a decisive breakout above the $1.00 resistance could signal a resumption of the uptrend towards $1.25.</p> 
<p>But for short-term swing traders, playing the range may be more prudent. altFINS suggests buying near channel support around $0.75 and booking profits on a bounce towards the upper boundary around $1.00. A stop loss below the recent swing low protects against invalidating the range play.</p>  
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<p>Zooming out, the technical picture remains mixed for MATIC. While the long-term trend registers as bullish, short- and medium-term dynamics shift to downtrends. Momentum readings also portray uncertainty.</p> 
<p>In conclusion, MATIC’s capacity to hold above $0.75 support keeps open the possibility of retesting range resistance. But cracking $1.00 poses the more difficult task in this choppy environment. Avoiding a close below $0.75 and a 200-day MA is key to maintaining traders’ range-bound thesis. Otherwise, Teshkid’s downside target of around $0.74 comes into focus.</p> 
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<p>The post <a href="https://captainaltcoin.com/polygon-trades-range-bound-between-0-75-and-1-00-analyst-shares-wheres-matic-headed-next/">Polygon Trades Range-Bound Between $0.75 and $1.00, Analyst Shares Where’s MATIC Headed Next</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Polygon Trades Range-Bound Between $0.75 and $1.00, Analyst Shares Where’s MATIC Headed Next

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