Polygon (Matic): Coin, Target and Buy Zone Review!
Hi all!
♾ Polygon was previously called Matic Network. Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is used to scale Ethereum. Polygon's goal is to enable faster and cheaper transactions on Ethereum using Layer 2 sidechains, i.e. blockchains that run parallel to the main Ethereum blockchain.
✅Official website polygon.technology/
Now let's move on to the charts on the main timeframes
M
➩ Globally, the price is in a downward movement as the monthly structure was broken and confirmed in 2022
➩ Now there is a corrective movement towards a wave of decline, which has lasted for almost two years.
➩ Below there is an unfilled IMB M ($0.0483 - $0.1829) and equal minimums on the way to it.
➩ Currently the price is testing IMB M ($0.6651 - $0.7505)
W
➩ On the weekly time frame, after reacting to OB W and filling IMB W, the price began to correct to the growth wave.
➩ Below in the form of support IMB W ($0.6651 - 0.6892 $) and the zone of combined OB W + IMB W ($0.5006 - 0.5994 $)
D
➩ On the daily timeframe, the price is still in an ascending structure, but, judging by the protracted correction, it will be broken.
➩ There is also an accumulation of a large pool of liquidity below, which can attract the price
💭On the chart I noted two options for reducing the price to potential areas for purchases
❗️Not a financial recommendation; before entering into any transaction, conduct your own analysis of the asset
♾ Polygon was previously called Matic Network. Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is used to scale Ethereum. Polygon's goal is to enable faster and cheaper transactions on Ethereum using Layer 2 sidechains, i.e. blockchains that run parallel to the main Ethereum blockchain.
✅Official website polygon.technology/
Now let's move on to the charts on the main timeframes
M
➩ Globally, the price is in a downward movement as the monthly structure was broken and confirmed in 2022
➩ Now there is a corrective movement towards a wave of decline, which has lasted for almost two years.
➩ Below there is an unfilled IMB M ($0.0483 - $0.1829) and equal minimums on the way to it.
➩ Currently the price is testing IMB M ($0.6651 - $0.7505)
W
➩ On the weekly time frame, after reacting to OB W and filling IMB W, the price began to correct to the growth wave.
➩ Below in the form of support IMB W ($0.6651 - 0.6892 $) and the zone of combined OB W + IMB W ($0.5006 - 0.5994 $)
D
➩ On the daily timeframe, the price is still in an ascending structure, but, judging by the protracted correction, it will be broken.
➩ There is also an accumulation of a large pool of liquidity below, which can attract the price
💭On the chart I noted two options for reducing the price to potential areas for purchases
❗️Not a financial recommendation; before entering into any transaction, conduct your own analysis of the asset