{"id":49,"date":"2021-11-02T07:50:58","date_gmt":"2021-11-02T07:50:58","guid":{"rendered":"https:\/\/wpfrank.com\/demo\/crypto-airdrop-premium\/?p=49"},"modified":"2021-11-02T07:50:58","modified_gmt":"2021-11-02T07:50:58","slug":"matic-price-analysis-polygon-rises-1-5-to-trade-above-1-90","status":"publish","type":"post","link":"https:\/\/wpfrank.com\/demo\/crypto-compare\/2021\/11\/02\/matic-price-analysis-polygon-rises-1-5-to-trade-above-1-90\/","title":{"rendered":"MATIC Price Analysis: Polygon Rises 1.5% To Trade Above $1.90"},"content":{"rendered":"\n

MATIC price has risen 1.5% over the last 24 hours to trade at $1.934. The polygon must defend the 50-SMA support to overcome the current selling pressure. A rise above the downtrend line will confirm a bullish breakout.<\/strong><\/p>\n\n\n\n

MATIC price rallied approximately 29% on October 28 to hit a high of $2.241. This MATIC rally shattered the $1.71 resistance<\/a> as the Polygon bulls announced their return to town.<\/p>\n\n\n\n

However, the price was rejected by the $2.240 resistance level signaling the start of correction that saw MATIC drop to seek support at the $1.753 support level on October 31.<\/p>\n\n\n\n

The bulls have managed to flip the $1.644 to $1.753 support zone into support which could provide a base for the next uptrend.<\/p>\n\n\n\n

MATIC Price Bulls Must Defend The 50-SMA Support<\/strong><\/h2>\n\n\n\n

Polygon price finds dynamic support from the 50 four-hour simple moving average since the late trading sessions of Sunday. This has seen the asset rise approximately 1.53% to the current price of around $1.934.<\/p>\n\n\n\n

A break out above the downtrend line around $1.940 could trigger an upward rally towards $2.40 and eventually tag the all-time high (ATH) around $2.70.<\/p>\n\n\n\n

The upsloping moving averages and the position of the Relative Strength Index (RSI) above the midline is a suggestion that the bulls are currently in control of MATIC price<\/a>.<\/p>\n\n\n\n

MATIC\/USD Four-Hour Chart<\/strong>Live Chart<\/a><\/p>\n\n\n\n

\"MATIC<\/figure><\/div>\n\n\n\n

On the four-hour chart, Polygon has bounced off the 50-period Simple Moving Average (SMA) at $1.823 which is currently providing robust support.<\/p>\n\n\n\n

Therefore, a slip below the 50-SMA will invalidate the aforementioned positive outlook, a move that will indicate that the recent break above $2.20 may have been a bull trap. Because a drop below this level could see the MATIC price drop to the $1.644 and $1.753 zone.<\/p>\n\n\n\n

However, if bulls push the price above the downtrend line, it will be a suggestion that the overhead pressure is reducing. If this happens, it will be the start of an uptrend as bulls target the ATH above $2.70.<\/p>\n\n\n\n

At the time of writing, MATIC teeters around $1.934 on most crypto exchange<\/a>s.<\/p>\n\n\n\n

Reference<\/strong>: https:\/\/coingape.com\/matic-price-analysis-polygon-rises-1-5-to-trade-above-1-90\/<\/p>\n\n\n\n

Featured Image:<\/strong> https:\/\/blockonomi.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"

The bulls have managed to flip the $1.644 to $1.753 support zone into support which provide a base for the next uptrend. … <\/p>\n

Continue ReadingMATIC Price Analysis: Polygon Rises 1.5% To Trade Above $1.90<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":50,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[34,35,38],"class_list":["post-49","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-polygon","tag-matic","tag-maticusdt","tag-polygon"],"_links":{"self":[{"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/posts\/49","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/comments?post=49"}],"version-history":[{"count":0,"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/posts\/49\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/media\/50"}],"wp:attachment":[{"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/media?parent=49"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/categories?post=49"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpfrank.com\/demo\/crypto-compare\/wp-json\/wp\/v2\/tags?post=49"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}