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Saturday, November 26, 2022
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    HomeAltcoinPolygon (MATIC) Price Prediction: MATIC Test Multi-Weeks Lows Near $1.30, Downside Risk...

    Polygon (MATIC) Price Prediction: MATIC Test Multi-Weeks Lows Near $1.30, Downside Risk Remains Intact!

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    Polygon (MATIC) price motion trades in a good vary on Tuesday. MATIC has been on the continual downward momentum since February 16 with a 35% descent. The formation of a triple backside close to $1.40 suggests a reversal from the present ranges.

    • Polygon (MATIC) worth trades with modest positive factors bucking the day past’s pattern.
    • An in depth above $1.50 might reverse the downward pattern.
    • Traders search an upside of 45% from the present ranges.

    As of press time, MATIC/USD is buying and selling at $1.40, down 0.31% for the day. The 16th largest cryptocurrency by the market cap held the 24-hour buying and selling quantity of $1,758,620,513 with greater than 100% positive factors.

    MATIC trades close to important degree

    Polygon (MATIC) has fashioned a ‘Head $ Shoulder’ sample a bearish reversal sample. After the worth of MATIC peaked at $2.92 marking an all-time excessive it retraced again virtually 55% in the direction of the lows made in January.

    Supply: Buying and selling View

    The promoting strain intensified as quickly as MATIC breaks the neckline of the described buying and selling sample. As the worth sliced beneath the 200 EMA and 50 EMA essential degree sellers proceed to liquidate their positions. Lastly, the draw back finds some dependable assist degree at $1.40.

    A spike in shopping for order might push the worth towards the 200-dayEMA (Exponential Transferring Common) at $1.70. Moreover, a decisive shut above the 50-day EMA has the potential to take out the psychological $2.0.

    On the flip aspect, if the worth breaks the a number of assist then the speedy draw back goal could possibly be discovered at $1.03. The degrees had been final seen in September.

    Technical Indicators:

    RSI: The Every day Relative Power Index (RSI) pierced beneath the typical line whereas studying at 35. Any uptick within the indicator might assist the upside run within the pair.

    MACD: The Transferring Common Convergence Divergence (MACD) holds beneath the midline with a bearish bias.

     

     

     

    Disclaimer

    The introduced content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.

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