Polygon (MATIC) in Danger of Losing 16% If This Pattern Holds True
MATIC might face risk of 16% price decline...
- Crypto analyst Ali has identified a head-and-shoulders pattern on the four-hour chart of Polygon (MATIC), the 14th largest cryptocurrency by market capitalization.
- If the pattern holds, MATIC could face a 16% price decline.
- A sustained candlestick close below the pattern's neckline at $0.79 might trigger the fall towards $0.67.
- However, an upswing above the right shoulder at $0.86 could invalidate the bearish outlook.
- MATIC recently reached a high of $0.983 but experienced a decline near $0.77.
- If MATIC surpasses the $0.86 level, the $1 level might be the next target.
- MATIC is currently working on Polygon 2.0, a roadmap for scaling Ethereum.
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The sentiment of the article is neutral, providing analysis and information about the potential price movement of MATIC based on the identified pattern.
You May Ask
What pattern has been identified on the four-hour chart of Polygon (MATIC)?What could trigger a 16% price decline for MATIC?What are the potential price targets if MATIC surpasses the $0.86 level?What is Polygon 2.0 and what is its purpose?What recent milestone did the Polygon blockchain achieve on the Ethereum mainnet?