Image default

MATIC Crashes 13% Weekly, is $1 Imminent? (Polygon Price Analysis)

With the downtrend in full force, MATIC is having difficulty finding support.

Polygon Price Analysis

Key Support levels: $1

Key Resistance levels: $1.3, $1.5

The support at $1.3 could not hold off the assault from bears, and MATIC fell below this critical level which has now turned into resistance. If the sellers continue to maintain this pressure, then the cryptocurrency may end up falling all the way to $1.

Chart by TradingView

Trading Volume: The volume is rather flat, but buyers are nowhere to be found.

RSI: The daily RSI fell under 50 points and seems unlikely to change course any time soon.

MACD: The daily MACD is bearish. This signals that sellers are more likely to dominate the chart during the next few days.

Chart by TradingView


The bias for MATIC is bearish.

Short-Term Prediction for MATIC Price

With the support at $1.3 lost, buyers appear to have retreated and will likely make a stand at the $1 level. This puts sellers on the offensive as they are in control of the price action.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source link

Related posts

Grayscale wins lawsuit against SEC, while the agency settles first NFT case and hype crashes

Melodie Denning

LTC/USD May Cross Above $100 Level

Melodie Denning

THORChain Used in Disguising $35M Loot from Atomic Wallet Hack

Melodie Denning

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy