{"id":11213,"date":"2022-11-03T21:54:32","date_gmt":"2022-11-04T01:54:32","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11213"},"modified":"2022-11-03T21:54:32","modified_gmt":"2022-11-04T01:54:32","slug":"matic-on-the-move-after-polygon-tapped-by-meta-maticusd-november-3-2022","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/03\/matic-on-the-move-after-polygon-tapped-by-meta-maticusd-november-3-2022\/","title":{"rendered":"MATIC On The Move After Polygon Tapped By META | MATICUSD November 3, 2022"},"content":{"rendered":"

In this episode of NewsBTC\u2019s daily technical analysis videos we are looking at MATIC<\/a> following a more than 10% intraday move on the back of the announcement that META would use Polygon for Instagram NFTs.<\/p>\n

Take a look at the video below:<\/p>\n

VIDEO: Polygon Price Analysis (MATICUSD): November 3, 2022<\/h2>\n

The continued strength from MATIC has the altcoin\u2019s momentum turning up yet again on the daily, strengthening on weekly timeframes, and only three days away from the 2-week timeframe crossing bullish.<\/p>\n

MATIC Gives Golden Cross Signal On Daily<\/p>\n

Technical indicators on the daily chart exhibit strength relative to the rest of the crypto market. For example, price is above the mid-Bollinger Band and tagging the upper band; it is well above the Ichimoku cloud, the tenkan-sen and kijun-sen; it has struck the Parabolic SAR; and pushed above the 50, 100, and 200-day moving averages.<\/p>\n

Most importantly, there is a golden cross on the daily. The last time there was a daily golden cross on MATICUSD, the cryptocurrency rallied by more than 13,000%.<\/p>\n\n

The Bollinger Bands are the tightest in five years | Source: MATICUSD on TradingView.com<\/a><\/p>\n

Related Reading: Bitcoin And The Dollar Reach Inverse Inflection Points | BTCUSD November 1, 2022<\/a><\/p>\n

Elliott Wave Theory Hints At Coming Polygon Rally<\/p>\n

Low timeframe Elliott Wave Theory<\/a> counting could suggest that MATIC has finished its wave 1 impulse and possibly a wave 2 correction, before it begins a larger move higher for a wave 3, 4, and 5.\u00a0Adding in a channel shows that if this is the start of wave 3 of 5, the end of the 5th wave could terminate at the mid-point of the channel.<\/p>\n

The channel appears valid throughout a series of different timeframes. On monthly timeframes, turning on the Fisher Transform shows a bullish crossover in the months past that could begin to pick up steam.<\/p>\n\n

The Fisher Transform highlights a possible turning point | Source: MATICUSD on TradingView.com<\/a><\/p>\n

Related Reading: Trick Or Treat For Bitcoin On Halloween Night? | BTCUSD Analysis October 31, 2022<\/a><\/p>\n

Altcoin Could Dominate Bitcoin And Ethereum<\/p>\n

Although the MATICUSD pair looks strong, MATIC versus BTC looks even better, and is close to setting new all-time highs.\u00a0<\/p>\n

Even the MATIC versus Ethereum pair suggests that MATIC will outperform both Ether and Bitcoin in the months ahead, with the only thing holding it back is this current level.<\/p>\n\n

MATIC might outperform both BTC and ETH | Source: MATICUSD on TradingView.com<\/a><\/p>\n

Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here<\/a> to access the free educational program.<\/p>\n

Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n

Featured image from iStockPhoto, Charts from TradingView.c<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In this episode of NewsBTC\u2019s daily technical analysis videos we are looking at MATIC<\/a> following a more than 10% intraday move on the back of the announcement that META would use Polygon for Instagram NFTs.<\/p>\n

Take a look at the video below:<\/p>\n

VIDEO: Polygon Price Analysis (MATICUSD): November 3, 2022<\/h2>\n

The continued strength from MATIC has the altcoin\u2019s momentum turning up yet again on the daily, strengthening on weekly timeframes, and only three days away from the 2-week timeframe crossing bullish.<\/p>\n

MATIC Gives Golden Cross Signal On Daily<\/p>\n

Technical indicators on the daily chart exhibit strength relative to the rest of the crypto market. For example, price is above the mid-Bollinger Band and tagging the upper band; it is well above the Ichimoku cloud, the tenkan-sen and kijun-sen; it has struck the Parabolic SAR; and pushed above the 50, 100, and 200-day moving averages.<\/p>\n

Most importantly, there is a golden cross on the daily. The last time there was a daily golden cross on MATICUSD, the cryptocurrency rallied by more than 13,000%.<\/p>\n

The Bollinger Bands are the tightest in five years | Source: MATICUSD on TradingView.com<\/a><\/p>\n

Related Reading: Bitcoin And The Dollar Reach Inverse Inflection Points | BTCUSD November 1, 2022<\/a><\/p>\n

Elliott Wave Theory Hints At Coming Polygon Rally<\/p>\n

Low timeframe Elliott Wave Theory<\/a> counting could suggest that MATIC has finished its wave 1 impulse and possibly a wave 2 correction, before it begins a larger move higher for a wave 3, 4, and 5.\u00a0Adding in a channel shows that if this is the start of wave 3 of 5, the end of the 5th wave could terminate at the mid-point of the channel.<\/p>\n

The channel appears valid throughout a series of different timeframes. On monthly timeframes, turning on the Fisher Transform shows a bullish crossover in the months past that could begin to pick up steam.<\/p>\n

The Fisher Transform highlights a possible turning point | Source: MATICUSD on TradingView.com<\/a><\/p>\n

Related Reading: Trick Or Treat For Bitcoin On Halloween Night? | BTCUSD Analysis October 31, 2022<\/a><\/p>\n

Altcoin Could Dominate Bitcoin And Ethereum<\/p>\n

Although the MATICUSD pair looks strong, MATIC versus BTC looks even better, and is close to setting new all-time highs.\u00a0<\/p>\n

Even the MATIC versus Ethereum pair suggests that MATIC will outperform both Ether and Bitcoin in the months ahead, with the only thing holding it back is this current level.<\/p>\n

MATIC might outperform both BTC and ETH | Source: MATICUSD on TradingView.com<\/a><\/p>\n

Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here<\/a> to access the free educational program.<\/p>\n

Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n

Featured image from iStockPhoto, Charts from TradingView.c<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-11213","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=11213"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11213\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11213"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}