Bitcoin

Polygon

Coin

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/polygon-price-analysis-trapped-in-a-triangle-matic-price-are-at-crossroads-0-50-drop-or-0-70-jump/">Polygon Price Analysis: Trapped In A Triangle MATIC Price Are At Crossroads, $0.50 Drop or $0.70 Jump?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Polygon price finally finds a solid footing at $0.53, leading to a short recovery support trendline. Moreover, with hours left for the <a href="https://coinpedia.org/news/bitcoin-etf-news-bitwises-etf-withdrawal-raises-questions-about-sec-scrutiny/" target="_blank" rel="noreferrer noopener">Bitcoin ETF’s</a> SEC deadline, the support levels’ altcoins may find a bullish spike soon.&nbsp; 
As MATIC prices downtrend under the influence of a resistance trendline, the <a href="https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/" target="_blank" rel="noreferrer noopener">MATIC price</a> action forms a triangle pattern in the 4-hour chart.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh5.googleusercontent.com/DWrY_o9RV1pdfF3lo4rM0YeOCahHamrPUISfpqPke4k0pw6BMRKYWHXw1ebSCaixgsAaKIEIpLrJOLoCmwKv_mpEaOM7MQVLUzSvr_TMxSaUWtls4c5KGvfCv-jYWDopceh-Qow18YUUQgS9GrqEhzI" alt="">
 <figcaption class="wp-element-caption">
 Trading View
 </figcaption>
</figure> 
The MATIC price action completes the negative cycle by crashing to the support trendline in the triangle pattern. However, the support trendline holds the MATIC prices and avoids further decline.&nbsp; 
With a positive cycle in order, the <a href="https://coinpedia.org/price-analysis/polygonmatic-price-at-the-crossroads-is-it-a-reversal-or-trend-continuation-pattern/" target="_blank" rel="noreferrer noopener">MATIC coin price may soon rise</a> within the triangle to challenge the overhead trendline. However, the 7.72% drop in the last 48 hours warns of a downtrend continuation in Polygon under $0.50. 
Moving to the technical indicators, the MACD and RSI display a bearish trend in the 4-hour chart. The declining 50 and 200-day EMA also represent a strong bearish sentiment.&nbsp; 
Also Read: <a href="https://coinpedia.org/news/polygon-clo-says-coinbase-vs-sec-case-is-very-far-from-the-decision/" target="_blank" rel="noreferrer noopener">Polygon CLO Says Coinbase vs. SEC Case Is Very Far From the Decision</a> 
<h2 id="will-matic-coin-price-float-above-0-50" data-name="will-matic-coin-price-float-above-0-50" class="wp-block-heading">Will MATIC Coin Price Float Above $0.50?</h2> 
Trapped in a triangle pattern, MATIC coin price coils up trend momentum and prepares for a sharp move upon breakout. Moreover, the ongoing correction warns of a support trendline breakout to break the bullish dominance at $0.50. 
In such a case, the bearish breakdown will plunge the MATIC price to $0.4480 
Optimistically, the MATIC price breakout rally can reach the 50-day EMA close to the $0.70 mark.

Polygon Price Analysis: Trapped In A Triangle MATIC Price Are At Crossroads, $0.50 Drop or $0.70 Jump?

目錄

CoinPedia News

在 2023年9月1日發表的其他文章

Palantir Stock Opposing Surge in Market Cap; PLTR Stock Lost 25%

India's Cryptocurrency Market Grew Shaky, Many Exchanges Made Layoffs

Why Cryptocurrency Rules Might Change After Ripple’s Win Against SEC?

NFAI Coin Trending on CoinMarketCap After Today’s 14% Surge – Here’s Why Not Financial Advice is ...

Chainlink (LINK) and Arbitrum (ARB) Pull Minimal Returns, VC Spectra (SPCT) Soars Beyond Stars

BlackRock Made To Wait As SEC Delays Decision On Bitcoin ETFs

訂閱免費電子報，每天收取加密貨幣最新動態！