Hello everyone , as we all know the market action discounts everything :)
We are gonna look at a 1D chart and gonna use technical analysis tool to understand the MATIC (Polygon) movement .
Matic (Polygon) seems to enter a bearish trend , the crypto has lost over -5.99% in the last 24 hours and -23.87% in the last week alone , now if we look at the 1D chart we can see that the bears are holding control over the the market price . so we are getting a big sell signal but lets use indicators to confirm this bearish movement .
1_ The market price at 0.800430 moving below the MA and the EMA ,MA at 0.952522 and the EMA at 0.933803. (bearish sign)
2_RSI reached oversold zone at 28.91 (bearish sign) we cant see a reversal yet until the RSI starting getting momentum up.
3_MACD seems to be at a negative crossover (bearish sign)
I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move.
Support & Resistance points :
support Resistance
1_ 0.78230 1_0.86930
2_ 0.75275 2_0.92675
3_ 0.69530 3_0.95630
Fundamental point of view :
MATIC is an ERC-20 token native to Polygon (formerly Matic Network), which is a Layer 2 scaling solution. Polygon combines a protocol and a framework for building blockchain networks, which are fully compatible with Ethereum and connected to its mainnet. Polygon was launched in 2017 and moved to its own network in 2019. The project is backed by some big names like Binance and Coinbase.
According to WalletInvestor, Matic price will grow from $1.137 to $6.272 in one year. That makes MATIC an awesome investment. The long-term earning potential is 451.63%. Predicted price for the end of 2026 is $26.595.
Answering the question about if Polygon is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.56306 with a reduction to $1.44606 by the end of 2022.
so speaking long term Matic could be a good investment but for the short term the bears are showing no signs of losing control.
Make sure to Follow and Like for more content
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice.
If you have any questions please ask
Thank you for reading.
We are gonna look at a 1D chart and gonna use technical analysis tool to understand the MATIC (Polygon) movement .
Matic (Polygon) seems to enter a bearish trend , the crypto has lost over -5.99% in the last 24 hours and -23.87% in the last week alone , now if we look at the 1D chart we can see that the bears are holding control over the the market price . so we are getting a big sell signal but lets use indicators to confirm this bearish movement .
1_ The market price at 0.800430 moving below the MA and the EMA ,MA at 0.952522 and the EMA at 0.933803. (bearish sign)
2_RSI reached oversold zone at 28.91 (bearish sign) we cant see a reversal yet until the RSI starting getting momentum up.
3_MACD seems to be at a negative crossover (bearish sign)
I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move.
Support & Resistance points :
support Resistance
1_ 0.78230 1_0.86930
2_ 0.75275 2_0.92675
3_ 0.69530 3_0.95630
Fundamental point of view :
MATIC is an ERC-20 token native to Polygon (formerly Matic Network), which is a Layer 2 scaling solution. Polygon combines a protocol and a framework for building blockchain networks, which are fully compatible with Ethereum and connected to its mainnet. Polygon was launched in 2017 and moved to its own network in 2019. The project is backed by some big names like Binance and Coinbase.
According to WalletInvestor, Matic price will grow from $1.137 to $6.272 in one year. That makes MATIC an awesome investment. The long-term earning potential is 451.63%. Predicted price for the end of 2026 is $26.595.
Answering the question about if Polygon is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.56306 with a reduction to $1.44606 by the end of 2022.
so speaking long term Matic could be a good investment but for the short term the bears are showing no signs of losing control.
Make sure to Follow and Like for more content
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice.
If you have any questions please ask
Thank you for reading.