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Coinpedia
Coinpedia
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The post Polygon Price Analysis: History to Repeat, MATIC Price to Undergo a Massive Ride Soon! appeared first on Coinpedia Fintech News Polygon has been trading under the shadows for a long time, being aloof from the wide attention of the market participants. While some look at it as a huge drop in bullish strength, which could lead to a huge descending trend, in reality, the MATIC price is preparing for a huge bullish action. The bulls are maintaining a passive trend as they tend to accumulate strength and exhibit it as the levels approach the apex of the prevailing consolidation.  The price has displayed its ability to go long during the 2021 bull run where it gulped a couple of zeros from its value to reach the aTH close to $3. Although the prices have slipped back to cents, it appears that the popular layer-2 token is making arrangements to undergo an uninterrupted rally.  Earlier, the price broke out of the triangle and underwent a 10x and hence, a similar price action is expected at the moment as the token is stuck up within a similar bullish pattern.  The last week, which closed on a bullish note has propelled the price above the triangle. Regardless of the bearish pressures, the levels have been maintained above the gains, suggesting a significant presence of the bulls. The token seems to have approached the end of the consolidation and, hence, may undergo a massive breakout. The Polygon price had consolidated in a similar triangle just before the 2021 bull run and hence a recurrence of the event could be imminent.  However, the rebranding from Matic Network to Polygon had a massive impact during the 2021 bull run. Now that Polygon 2.0 is expected to roll out with the token migration from MATIC to POLS (which is already live), an equal impact is expected in the latter part of the year. The Polygon price is expected to sustain above $0.96 until the day closes and achieve a minimum level of $1.5 to $1.7 by the end of the week.  Hence, this could validate the beginning of a fresh bull run, which may end up marking a new ATH with double-digit figures.

4 days ago
Coinpedia
Coinpedia
Polygon Price Analysis: History to Repeat, MATIC Price to Undergo a Massive Ride Soon!
4 days ago
小烏鴉Max
小烏鴉Max
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[Will Polygon (MATIC) support hold? Price analysis reveals surprising insights] MATIC managed to break above the short-term downtrend line, but has yet to break above the Fibonacci resistance level. Starting in October 2023, MATIC showed a growth trend on the weekly timeframe chart and reached a yearly high of $1.09 in December. Although the price has since retreated, it remains above the previous area of ​​lateral resistance, which has now turned into support. In January 2024, MATIC rebounded but remained constrained by the 780-day long-term downtrend line. The Relative Strength Index (RSI) is above 50, indicating the advantage of the bulls. While the weekly time frame is bullish, the daily time frame shows uncertainty. MATIC started rising on January 23 and broke above the descending resistance line five days later, eventually reaching a high of $0.87 on February 10. However, it was rejected by the 0.382 Fibonacci retracement resistance level and subsequently declined, leading to the RSI approaching 50. ColdBloodShill says MATIC may be about to break through resistance. However, the reaction to the 0.382 Fibonacci retracement resistance will critically influence future trends. A breakout of MATIC could lead to a 13% gain to the 0.92 resistance, while a rejection could lead to a 12% drop to the 0.72 support. #鴉快訊 #内容挖矿 $MATIC @0xPolygon

13 days ago
Crypto Ahmet
Crypto Ahmet
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🔥💥Polygon (MATIC) Makes the Latest Bounce: Could MATIC Rally to $1.73? #Polygon recently completed the final Sunday release of its native token #MATİC laying the foundation for the adoption of Polygon 2.0. The transfer to the Matic Foundation included 273 million MATIC tokens, worth about $253 million, and was a timely milestone, since the entire MATIC supply is now in circulation. The event, which took place on the evening of February 21, 2024, also became a central point for market observers and participants. Transition to Polygon 2.0 Polygon is a leader in Ethereum scaling solutions and is always evolving to improve its ecosystem. The latest token release follows the roadmap to Polygon 2.0 by bringing an improved version of its platform. The upgrade aims to solidify Polygon's place in the blockchain industry by introducing POL, a new token that will become the central currency in the Polygon ecosystem. The transition from MATIC to POL, which is the long-term vision of the project, is expected to take four years. However, the moment after the release of the token, the value of MATIC fell to $ 0.94. Given MATIC's historic $1 resistance, this price movement was observed critically. However, at the time of writing the bearish trend calmed down and prices changed hands to $ 0.9637, down 1.38% from their intraday high. But analysts think this is a short-term obstacle and indicate that an optimistic future with superficial patterns is still appropriate. One analyst pointed out the formation of a symmetrical triangle and suggested that there could be a significant rise as long as MATIC's close continues above $ 0.96 and it could rise as high as $ 1.73. Comparative Performance and Efficient Analysts Last year, MATIC fell by 32%, and other Layer 2 tokens (OP and SKL) ranked ahead of it. But the mood in the market is positive. The analysis shows that MATIC will make a big comeback, and the forecasts give an expected wave towards the $ 1.8-2.0 line, which is influenced by market dynamics and FOMO. #Write2Earn #binance #TrendingTopic

3 days ago
CoinEdition
CoinEdition
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Polygon completes final MATIC release, fully circulating its 10 billion token supply. Transition to Polygon 2.0 introduces POL as the new ecosystem currency. Analysts predict MATIC could rally to $1.73 with sustained support above $0.96. Polygon has recently finished the final release of the native token, MATIC, in the market, providing the foundation for the adoption of Polygon 2.0. The transfer comprised 273 million MATIC tokens with a value of around $253 million to the Matic Foundation and is a timely milestone as the whole MATIC supply is now in circulation. The event took place during the evening of February 21, 2024, and has been a central point for the market watchers and participants too. 11 小时前,2.73 亿 $MATIC ($253M) 从 Matic 归属合约转入 Matic 基金会地址。这是 Matic 的最后一笔代币解锁转移,自此 $MATIC 进入全流通状态。https://t.co/btJelj0cBZ pic.twitter.com/PS7YBmoCOs — 余烬 (@EmberCN) February 22, 2024 Transition to Polygon 2.0 Polygon is a leader in Ethereum scaling solutions, always developing to improve its ecosystem. The last token release follows its roadmap to Polygon 2.0, bringing an improved version of its platform. The upgrade aims to cement Polygon’s place in the blockchain industry by introducing a new token, POL, which will be the central currency in the Polygon ecosystem. The switch from MATIC to POL, the long-term vision of the project, is expected to last for four years. MATIC/USD 24-hour price chart (source: CoinStats) The post-token release moment, however, registered a MATIC dip to $0.94 value. This price action has been observed critically, given MATIC’s historical $1 resistance. However, at press time, the bearish rally had cooled off, with prices exchanging hands at $0.9637, a 1.38% decline from the intra-day high. MATIC’s market capitalization and 24-hour trading dipped by 1.30% and 17.58%, respectively, to $9,260,629,631 and $634,109,79. Nevertheless, analysts consider this to be a short-term hindrance and demonstrate by below-the-surface patterns that an optimistic future is still appropriate. An analyst noted the formation of the symmetrical triangle, suggesting what could be a substantial rally and reaching as high as $1.73, as long as MATIC sustains a close above $0.96. #Polygon shows promising signs from a long-term perspective. The prevailing pattern appears to be a multi-year symmetrical triangle. If $MATIC can maintain a close above $0.96, it could signal the start of a bull rally, with a potential target of $1.73! pic.twitter.com/qjgn6sN1oV — Ali (@ali_charts) February 21, 2024 Comparative Performance and Efficient Analysts MATIC has, however, faced difficulties in market performance compared to its peers despite being a significant Layer 2 scaling solution in Ethereum. Within the last year, MATIC declined 32%, with other Layer 2 tokens going ahead of it, i.e., OP and SKL. Nevertheless, the market mood is positive. Analysis indicates that MATIC is set to stage a massive comeback, with forecasts giving an anticipated wave towards the $1.8-$2.0 line influenced by market dynamics and FOMO. The post Polygon (MATIC) Makes Final Splash: Can MATIC Break Out for a $1.73 Rally? appeared first on Coin Edition.

3 days ago
CryptoNewsLand
CryptoNewsLand
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MATIC is consolidating in a multi-year symmetrical triangular pattern. The release of Polygon ID Release 6 marks significant advancements, including Dynamic Credentials implementation and enhanced on-chain capabilities. MATIC’s potential breakout, contingent on maintaining a close above $0.96, could lead to a target price of $1.73. Polygon (MATIC) has caught the attention of crypto analyst Ali, who identifies a compelling opportunity for investors. Ali highlights the formation of a multi-year symmetrical triangular pattern in MATIC’s price chart, indicating a period of consolidation and potential breakout on the horizon.  #Polygon shows promising signs from a long-term perspective. The prevailing pattern appears to be a multi-year symmetrical triangle. If $MATIC can maintain a close above $0.96, it could signal the start of a bull rally, with a potential target of $1.73! pic.twitter.com/qjgn6sN1oV — Ali (@ali_charts) February 21, 2024 This pattern, characterized by converging trend lines and a balance between buyers and sellers, often precedes significant price movements. Ali suggests that if MATIC maintains a close above $0.96, it could signal the start of a bullish rally with a target price of $1.73, representing an 89.56% increase from current levels.  At the time of reporting, MATIC has shown resilience, registering a 5.21% increase in the last 24 hours, reaching $0.97, and a 7% increase weekly. Beyond technical analysis, Polygon has been making strides in its development ecosystem.  The recent launch of Polygon ID Release 6 marks a significant milestone, enhancing the platform’s digital identity solution. Notably, this release introduces Dynamic Credentials, a W3C protocol enabling automatic credential refresh from user wallets, along with other improvements aimed at addressing key challenges in the Web3 landscape.  These advancements underscore Polygon’s commitment to innovation and its potential to disrupt the digital identity space. As investors eagerly await MATIC’s next move, the convergence of technical indicators and fundamental developments suggests an intriguing narrative unfolding for Polygon enthusiasts. Read also: Worldcoin to Offer User ID Database to Companies, Governments Polygon Primed for a Major Rally After Triangle Breakout How Can MATIC Achieve the Impressive Milestone of $3 in Early 2024? Worldcoin Pauses World ID in Kenya as Regulators Express Concern Polygon Poised for 20% Rally Amid Positive Network Updates The post Polygon Poised for Major Breakout, Analyst Forecasts appeared first on Crypto News Land.

3 days ago
Coinpedia
Coinpedia
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The post Polygon (MATIC) Price Poised For 6x Rally in Coming Months appeared first on Coinpedia Fintech News Polygon (MATIC) has recently been preparing to enter the parabolic phase of the confirmed bull market. Since the successful rebound in October last year, MATIC, which is gradually evolving into a POL token through the Polygon 2.0 economics, has risen more than 83 percent.  However, the mid-cap altcoin, with a fully diluted valuation of $9.2 billion and a 24-hour trading volume of around $520 million, has been trapped in a horizontal consolidation in the past three months. As a result, the MATIC token has accumulated significant buyers seeking to capitalize on the confirmed bull cycle. Polygon Team Reimagines Competitiveness  Following the 10-day timelock, the latest upgrade to Polygon zkEVM is now live on mainnet. The Etrog upgrade brings support for four additional precompiled smart contracts—a major step towards becoming a full Type 2 ZK-EVM.End users don’t need to take any action—everything will… pic.twitter.com/qeMvECS5as — Polygon Foundation (@0xPolygonFdn) February 13, 2024 During the height of the 2022/2023 crypto winter, when on-chain activity was significantly low, Polygon’s core developers have been working on different infrastructures to enable mass adoption of Ethereum smart contracts. Furthermore, emerging layer-one blockchains like Solana (SOL) and Cardano (ADA) have competed to become the top web3 ecosystem. In the latest Polygon move geared towards competing with other layer-two chains like Arbitrum (ARB) and Optimism (OP), the Etrog upgrade went live on the zkEVM to bring support for four additional precompiled smart contracts. MATIC Price Analysis $MATIC is on the Verge of Massive Triangle Upside Breakout..!!I'm Extremely Bullish for the Midterm/Longterm so don't miss the RIDE.#Crypto #MATIC #Polygon pic.twitter.com/Rkh1EvORwT — Captain Faibik (@CryptoFaibik) February 16, 2024 According to Captain Faibik, a popular crypto analyst on the X platform, MATIC’s price is on the precipice of a 600 percent rally in the near term. The analyst indicated that MATIC price has formed a macro triangle since the end of the 2021 bull run and has now approached the apex. As a result, the crypto analyst highlighted that the altcoin is on the verge of a massive triangle bullish breakout.  

10 days ago
Crypto Daily™
Crypto Daily™
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Today's crypto market showed exceptional volatility, as Bitcoin was wavering in its attempt to solidify its position above the $52,000 threshold. Meanwhile, Ethereum briefly grazed the $3,000 mark, only to experience a minor setback. This uncertain dance of numbers led to a cautious approach from investors, who seem to be riding a short-term buying wave amidst an underlying bullish momentum. Adding to the intrigue, Ethereum's imminent mainnet launch of the 'Dencun' upgrade in March is drawing more attention than Bitcoin. This upgrade, tested meticulously on testnets, is expected to significantly smoothen the path for Ethereum's contribution to a promising Web3 future, thus creating a bubbling anticipation within the market. Amidst this whirlwind, other major players in the crypto space like Polygon (MATIC) and Cardano (ADA) were not immune to the market's fluctuations. MATIC recorded a minor dip of less than 1%, whereas ADA took a steeper plunge, dropping over 3%. This contributed to the overall crypto market cap slipping to $1.96 trillion. In contrast to these established coins, the emerging ScapesMania (MANIA) is stirring up its own wave of anticipation. Although its presale stage has concluded, the crypto community is eagerly awaiting its coming Token Generation Event (TGE) and DEX listing, expected to open doors for a broader spectrum of crypto investors to engage with MANIA. Ride The Wave of Innovation with ScapesMania The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future. The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away. Your Last Chance to Boost Potential Returns Post Listing The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry. Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential.  The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream. ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works. ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth. Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative. >>> TGE ALERT – Keep Up With Latest News <<< Polygon (MATIC) Price Analysis Polygon (MATIC) recently displayed remarkable resilience in the face of market volatility, successfully reclaiming the psychologically significant $1 mark. This achievement came on the heels of a nearly month-long rally, during which MATIC initiated a robust recovery trendline. Polygon's (MATIC) journey began in late January with a bounce back from $0.722, exhibiting a V-shaped recovery that is often interpreted as a strong indication of buyer dominance. This momentum propelled MATIC's price by nearly 40% within a month, breaching the $1.01 mark and effectively surpassing both the $0.945 resistance and the 61.8% Fibonacci retracement level of the previous correction. Polygon (MATIC) Technical Outlook Technically, Polygon (MATIC) is currently positioned between the first support at $0.8784 and the first resistance at $1.0604, suggesting a delicate balance in market forces. Source: TradingView The Exponential Moving Averages (EMAs) indicate a positive trend, with the 10-day EMA at $0.9921 slightly above the 50-day EMA at $0.94, and both well above the 200-day EMA at $0.8651, reinforcing the bullish sentiment. The Commodity Channel Index (CCI) at 30.07 aligns with a burgeoning bullish scenario, and the MACD level at 0.0193, though modest, supports this view. The Relative Strength Index (RSI) at 51.95 is hovering around the midline, suggesting a neutral market sentiment. However, the Stochastic %K at 67.26 points to a slightly overbought condition, while the Average Directional Index (ADX) at 25.21 indicates a lack of strong trend. Polygon (MATIC) Price Forecast In the bullish scenario, if MATIC maintains its foothold above the newly established support-turned-resistance level of $0.9458, we could witness a further ascent towards $1.0604, and potentially challenge the higher resistances at $1.1212 and $1.3032. The key to this scenario lies in the sustenance of buyer momentum and Polygon's (MATIC) ability to withstand any negative spill-over effects from Bitcoin's movements. Conversely, in a bearish outcome, if MATIC succumbs to the selling pressure, particularly influenced by Bitcoin's performance, it might retest $0.8784. A breach below this level could see the coin drift towards the lower supports at $0.7572 and $0.5752, potentially erasing the gains accrued in the recent rally. Cardano (ADA) Price Analysis Recently, Cardano (ADA) was on a path to potentially reclaim its previous support levels above the $0.65 mark. Despite a sluggish recovery over the past month, ADA's bullish momentum remained underpinned by active participation. Analyst Ali Martinez, a well-known figure in the crypto market, drew parallels between Cardano's (ADA) current chart patterns and those observed during the 2020 pandemic-triggered crypto market crash. Martinez's analysis suggested that if ADA replicated this 2020 pattern entirely, it could enter a consolidation phase that would last until April 2024. Consolidation is a phase where the cryptocurrency stagnates between two levels as the market exhibits indecision about its long-term direction. Cardano (ADA) Technical Outlook From a technical standpoint, Cardano (ADA) is currently trading between its first support at $0.544 and first resistance at $0.662. Source: TradingView The EMAs for 10, 50, and 200 days are $0.611, $0.597, and $0.551 respectively, suggesting a tussle between short-term volatility and longer-term stability. The RSI at 41.2, combined with a low Stochastic %K of 16.5, points towards potential undervaluation, signaling room for an upward price movement. However, the CCI at -246.4 and a negative Momentum of -0.028 imply bearish pressures. The ADX at 26 indicates a lack of strong trend, aligning with Martinez's consolidation theory. Cardano (ADA) Price Forecast In a bullish scenario, if ADA's patterns align closely with those from 2020, there's a chance for a significant upward trend, potentially reaching the $0.704 and $0.812 price levels. In the long run, Cardano (ADA) can even hit the elusive $8 mark for the first time this year, as per Martinez's analysis. Conversely, the bearish outlook is fueled by the current negative market sentiment, as highlighted by on-chain data. The overall crypto market, including ADA, is experiencing a more negative crowd sentiment than historical averages, as reported by Santiment. In this case, Cardano (ADA) could experience a downturn, pushing it to retest the next defense lines at $0.488 and $0.38. Bottomline In today’s volatile crypto market, Polygon (MATIC) and Cardano (ADA) have each charted their unique courses.  MATIC, demonstrating resilience, recently rebounded impressively, surpassing key resistance levels and showcasing strong bullish indicators in its technical analysis. The path ahead for Polygon (MATIC), though optimistic, isn't without potential pitfalls as it navigates the ebb and flow of market forces and Bitcoin's influence.  Meanwhile, ADA, currently fluctuating between significant support and resistance levels, faces a critical juncture. Cardano's (ADA) journey could mirror its 2020 pattern, potentially entering a prolonged consolidation phase, yet there's still room for an upward trajectory if market sentiment shifts. As investors and traders weigh these analyses of MATIC and ADA, the crypto market continues its unpredictable move, with each coin carving out its destiny in this dynamic financial landscape. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

4 days ago
Coinpedia
Coinpedia
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The post Solana And Polygon Price Show Weakness Despite Bullish Trend! What’s Next For SOL & MATIC Price? appeared first on Coinpedia Fintech News The cryptocurrency industry has recorded a bullish week by displaying significant price action since the week’s start. Further, the market records a robust bullish sentiment, highlighting increased buying pressure within the crypto space. Despite the recent market pump, Solana (SOL) and Polygon (MATIC) tokens failed to break out of their essential resistance levels even after adding significant value to their respective portfolios, highlighting a strong liquidation point at that level in the market. Solana Price Analysis: The Solana price traded in a closed range between $89.45 and $100 for a brief period, during which the SOL price made multiple attempts to break out. After facing repeated rejection, the price lost momentum and recorded a correction of 14.58% in the chart. After testing its low of $80.19, the bulls regained momentum and added approximately 34% in valuation, following which it faced rejection at $107.26. The bulls then lost momentum and lost 12.87% but traded with the support of a 200-day EMA. TradingView: SOL/USDT After multiple attempts, the bulls recorded a breakout and added over 24% to its portfolio. Currently, the SOL price is on the verge of testing its upper limit of $117.31, the outcome of which is unpredictable. The technical indicator, RSI, displays a sharp decline, highlighting a rise in the bear power in the market. Further, the averages show a bearish convergence, suggesting the price will undergo correction shortly. If the market pushes the price above $117.31, the bulls will regain momentum, and the Solana price will test its upper level of $135 this month. Conversely, if the bears overpowered the bulls, the SOL price will lose momentum and prepare to test its lower limit of $100 in the upcoming weeks. Polygon Price Analysis: The MATIC price traded between $0.8022 and $0.8435 for a while, after which the market volatility increased, and the price displayed significant fluctuations. After multiple attempts, the bulls successfully broke out of the resistance level and jumped 21.24%, following which it faced rejection at $0.9467. After facing rejection, the bulls lost momentum and lost 25.57% over the next twelve days. Following this, the MATIC price traded between $0.7046 and $0.7580 for the next few days. As the market volatility grew, the bulls regained momentum and recorded a jump of approximately 14%. TradingView: MATIC/USDT Following this, the Polygon price traded in a consolidated range between $0.7580 and $0.8435 for about a week. Since then, the Polygon token has traded in a rising channel pattern, highlighting a bullish influence in the crypto market. The RSI records a strong bearish move by displaying a sharp fall in the chart. Moreover, the averages show a bearish convergence, suggesting a negative price action for this coin in the coming time. If the bulls regain momentum and push the price above the resistance level of $0.8926, the MATIC price will prepare to test its $1 mark in the upcoming weeks. Negatively, if a trend reversal occurs, the Polygon price will lose momentum and fall to test its lower limit of $0.8022 this month.

11 days ago
CoinCodex
CoinCodex
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Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. Polygon is up 5.27% today against the US Dollar Polygon is currently trading 15.20% below our prediction on Feb 18, 2024 Polygon dropped -0.14% in the last month and is down -28.78% since 1 year ago Polygon price $ 0.873588 Polygon prediction $ 1.03 (17.80%) Sentiment Bullish Fear & Greed index 79 (Extreme Greed) Key support levels $ 0.839212, $ 0.797996, $ 0.775682 Key resistance levels $ 0.902742, $ 0.925057, $ 0.966273 MATIC price is expected to rise by 17.80% in the next 5 days according to our Polygon price prediction Polygon price today is trading at $ 0.873588 after gaining 5.27% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 3.29% in the same time period. MATIC performed well against BTC today and recorded a 1.27% gain against the world’s largest cryptocurrency. According to our Polygon price prediction, MATIC is expected to reach a price of $ 1.03 by Feb 18, 2024. This would represent a 17.80% price increase for MATIC in the next 5 days. MATIC Price Prediction Chart Buy/Sell Polygon What has been going on with Polygon in the last 30 days Polygon has been displaying a negative trend recently, as the coin lost -0.14% in the last 30-days. The medium-term trend for Polygon has been bearish, with MATIC dropping by -7.13% in the last 3 months. The long-term picture for Polygon has been negative, as MATIC is currently displaying a -28.78% 1-year price change. On this day last year, MATIC was trading at $ 1.23. Polygon reached its all-time high price on Dec 27, 2021, when the price of MATIC peaked at $ 2.91. The current MATIC cycle high is $ 1.56, while the cycle low is at $ 0.322074. MATIC has been displaying low volatility recently – the 1-month volatility of the coin is at 5.00. Polygon recorded 16 green days in the last 30 days. Polygon technical analysis for today - Feb 13, 2024 The sentiment in the Polygon markets is currently Bullish, and the Fear & Greed index is reading Extreme Greed. The most important support levels to watch are $ 0.839212, $ 0.797996 and $ 0.775682, while $ 0.902742, $ 0.925057 and $ 0.966273 are the key resistance levels. Bullish sentiment for Polygon 24 indicators are currently signaling a bullish prediction for Polygon, while 4 indicators are showing a bearish forecast. With 86% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Polygon. Crypto market is currently experiencing Extreme Greed Currently, the Fear & Greed index is at 79 (Extreme Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity. Polygon moving averages & oscillators Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Polygon is positioned in the market right now. Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential MA3 $ 0.875737 (SELL) $ 0.818047 (BUY) - - MA5 $ 0.839232 (BUY) $ 0.827399 (BUY) - - MA10 $ 0.812615 (BUY) $ 0.836262 (BUY) - - MA21 $ 0.796685 (BUY) $ 0.827192 (BUY) $ 0.974668 (SELL) $ 0.770929 (BUY) MA50 $ 0.833753 (BUY) $ 0.778933 (BUY) $ 0.516222 (BUY) $ 0.799430 (BUY) MA100 $ 0.826644 (BUY) $ 0.728089 (BUY) $ 0.375462 (BUY) $ 0.843297 (BUY) MA200 $ 0.742793 (BUY) $ 0.733389 (BUY) $ 0.424128 (BUY) $ 0.301788 (BUY) Period Value Action RSI (14) 62.26 NEUTRAL Stoch RSI (14) 62.66 NEUTRAL Stochastic Fast (14) 69.17 NEUTRAL Commodity Channel Index (20) 66.67 NEUTRAL Average Directional Index (14) 13.04 NEUTRAL Awesome Oscillator (5, 34) 0.03 NEUTRAL Momentum (10) 0.02 NEUTRAL MACD (12, 26) 0.01 NEUTRAL Williams Percent Range (14) -30.83 NEUTRAL Ultimate Oscillator (7, 14, 28) 56.08 NEUTRAL VWMA (10) 0.82 BUY Hull Moving Average (9) 0.86 SELL Ichimoku Cloud B/L (9, 26, 52, 26) 0.78 NEUTRAL The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Polygon is at 62.26, suggesting that MATIC is currently neutral. The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Polygon over the last 50 days. Currently, Polygon is trading below the SMA 50 trendline, which is a bearish signal. Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the MATIC closing price for the last 200 days. MATIC is now trading below the SMA 200, signaling that the market is currently bearish. The bottom line about this Polygon prediction After considering the above factors, we can conclude that the current forecast for Polygon price prediction is Bullish. MATIC would have to increase by 17.80% to hit our $ 1.03 target within the next five days. Moving forward, it will be important to monitor the MATIC market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Polygon price predictions click here. Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

13 days ago
Cryptopolitan
Cryptopolitan
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Polygon (MATIC) Rival Expected to Cross $2 First Polygon (MATIC) was one of the fastest-growing projects when it initially hit the market. In the previous bull run, the project broke all records and managed to hit $2.40 in May 2021. This was 7,000% higher than the price Polygon (MATIC) had observed in the past two years.  Today, the project is facing strong competition from other newcomers that are expected to surpass Polygon in performance. While Polygon (MATIC) has established itself as a leader in Ethereum scaling solutions, Algotech (ALGT)  has been gaining momentum as a formidable competitor. One of the key factors driving speculation about Algotech (ALGT) surpassing the $2 milestone before Polygon (MATIC) is its recent performance in the market.  Algotech (ALGT) has been making strategic moves to enhance its position in the market. With ongoing developments and partnerships, the project is positioning itself as a viable alternative to traditional trading platforms, attracting interest from traders and users alike. This growing ecosystem and adoption could contribute to Algotech (ALGT) outpacing Polygon (MATIC) in reaching the $2 threshold.  However, it’s essential to recognize that the cryptocurrency market is inherently volatile and unpredictable. While the speculation surrounding Algotech (ALGT) is based on current trends and analysis, market dynamics can quickly shift, impacting the trajectory of both projects.  Algotech (ALGT) – Rising DeFi Star Algotech (ALGT) has emerged as a beacon of stability and promise amidst market uncertainties, with its recent success in raising over $1.1 million in a private seed round. The project’s innovative trading features, including breakout detection and large volume arbitrage, position it as a top contender in the decentralized finance sector.  With a presale price of $0.04 and predictions of substantial price surges upon listing on major exchanges, Algotech (ALGT) presents an enticing opportunity for investors seeking high-growth assets in the crypto market.  As the project continues to garner attention and investor interest, Algotech (ALGT) is poised to make significant strides in reshaping the landscape of algorithmic trading and decentralized finance. Conclusion The crypto market operates in rapidly evolving cycles where projects with newer technology often replace legacy ones. Polygon (MATIC) faces competition from emerging contenders like Algotech (ALGT), which investors now view as a promising investment avenue.  The TradFi platform’s innovative technology and community-driven approach have been key reasons behind its growth. Analysts are optimistic that Algotech (ALGT) will be one of the most exciting projects in this current bull run and could be poised to replace legacy projects like Polygon (MATIC).  Learn more: Visit Algotech Presale Join The Algotech Community

10 days ago
Crypto Web3 Today
Crypto Web3 Today
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Polygon's Price Reaches Long-Term Resistance: Can MATIC Hit $1? Polygon price has reached the long-term descending resistance line that has been in place for about 800 days, and MATIC has also hit the top of its short-term horizontal range. Will MATIC be able to reach $1 following a resistance breakout? Technical analysis on the weekly timeframe shows that the MATIC price has been under the long-term descending resistance line since the beginning of 2022. Weekly MATIC Chart Analysis. This decline led to a low of $0.32 in June 2022 before MATIC began an upward movement. The resistance trend line has been tested and confirmed four times, most recently this week. This situation has been ongoing for approximately 800 days. Cryptocurrency investor CryptoFaibik believes that the MATIC price could increase by more than 600% once it breaks out from this long-term resistance. The Weekly Relative Strength Index (RSI) is giving a bullish signal. Investors continue to use the RSI level as an important indicator of momentum when assessing market conditions. If the RSI value is above 50 and the trend is upward, it is advantageous for the bulls, but if the value is below 50, the opposite holds true. The indicator has risen to 50 (green icon) and is moving upward. Both of these developments are signs of a bullish trend. Daily MATIC Chart Analysis. Daily chart analysis shows a bullish outlook due to price action, RSI readings, and wave count. The price movement indicates that MATIC has been increasing since its bounce from the low range on January 23, reaching a high of $0.93. The daily RSI level supports this increase as it is above 50 and moving upwards. Finally, the wave count supports the ongoing breakout. Elliott Wave theory involves analyzing recurring long-term price patterns and investor psychology to determine the direction of a trend. The most likely assumption indicates that MATIC is in the third wave of a five-wave upward movement. The third wave is often the sharpest of the five and would align with a breakout.

9 days ago

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