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MATIC Price Prediction: Polygon In Uptrend?

 


The MATIC course was able to rise very strongly over the summer. However, the MATIC course is currently in a correction phase.


Polygon price forecast: MATIC still bullish in the medium term

The last MATIC course forecast was two weeks ago. At the time we wrote, “The Polygon price broke the 50-day bearish EMA and MATIC may now re-enter the 0.382 Fib support around $0.77 . If MATIC does not bounce bullishly off the 0.382 Fib support at around USD 0.77, but breaks it bearishly, significant Fib support is already waiting for MATIC at around USD 0.6.”


MATIC price bearishly breaks the 0.382 Fib support around $0.77

The MATIC price has fallen sharply since the last forecast, breaking the 0.382 Fib support at around $0.77 in a bearish manner. Also, MATIC was bearishly rejected at the 0.382 Fib resistance around $0.79 two days ago.


MATIC could now correct the golden ratio support at around USD 0.6 and bounce off it very strongly. Also, the MACD lines are bearish crossed while the RSI is neutral.


The MACD histogram, on the other hand, has been ticking bullishly higher for a few days.


In the 4H chart, the EMA's death cross is intact


In addition, the death cross is intact on the 4H chart, which confirms the trend bearishly in the short term. In addition, the MACD lines are bearishly crossed and the RSI is neutral.


In the weekly chart, the MACD histogram is beginning to weaken

Overall, however, the MATIC price has been on a strong upward trend since it reached its low point of around USD 0.316 in June. If MATIC bounces off the golden ratio at around USD 0.6 at the latest in order to continue the upward trend, the upward movement will remain intact.


Then MATIC might attempt to break the 50-week EMA resistance around $1. After that, significant Fibonacci resistance awaits at around USD 1.3 and USD 2.


Despite this summer's bullish bullishness, MACD's histogram is now ticking bearishly lower for the third week in a row. In addition, the MACD lines could soon cross bearishly. The RSI is neutral.


Although MATIC is in a short-term correction phase, the MATIC course is far further away from the low for the year than many other cryptocurrencies . This summer, the MATIC price rose by around 232%.


So there are still chances for the upside to continue if MATIC bounces off the golden ratio around $0.6.


Significant support awaits the MATIC course between USD 0.26 and USD 0.35

If not, significant support is waiting for the polygon price between USD 0.26 and USD 0.346 at the latest. For a bullish trend reversal, Polygon price needs to clear the golden ratio at around $2. Then a rise to the ATH at around USD 2.9 would be possible.


However, the histogram of the MACDs continues to tick bearishly lower and the MACD lines are also crossed bearishly in the monthly chart.


Against BTC, the MATIC course was bearishly rejected at the golden ratio resistance

A golden crossover was established in the daily chart against BTC, which confirms the bullish trend in the short to medium term. However, the Polygon price has now been bearishly rejected at the golden ratio resistance around 0.000044 BTC.


With that, Polygon could bounce back to the 0.382 Fib support at the 200-day EMA around 0.000035 BTC. Otherwise, significant Fib support is only waiting for the MATIC course again at around 0.000028 BTC.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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