{"id":11405,"date":"2022-11-07T07:56:19","date_gmt":"2022-11-07T11:56:19","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11405"},"modified":"2022-11-07T07:56:19","modified_gmt":"2022-11-07T11:56:19","slug":"matic-price-prediction-why-rally-isnt-over-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/07\/matic-price-prediction-why-rally-isnt-over-yet\/","title":{"rendered":"MATIC Price Prediction: Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"

MATIC price started a major increase from the $0.840 support zone. Polygon buyers pumped the price above $1.20 and there could be more upsides.<\/em><\/p>\n

MATIC price rallied above the $1.00 and $1.20 resistance levels against the US dollar.
\nThe price is trading well above $1.00 and the 100 simple moving average (4-hours).
\nThere is a key contracting triangle forming with resistance at $1.22 on the 4-hours chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to rise and might soon revisit the $1.50 resistance zone.<\/p>\n

Polygon\u2019s MATIC Price Rallies Steadily<\/h2>\n

After forming a base above the $0.800 level, polygon\u2019s price started a fresh increase. MATIC price broke the $0.880 and $0.980 resistance levels to move into a positive zone.<\/p>\n

There was a strong move above the $1.00 resistance and the 100 simple moving average (4-hours). Finally, the price surged above the $1.20 resistance. A high was formed near $1.304 and the price recently started a downside correction, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

There was a move below the $1.22 and $1.20 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.838 swing low to $1.304 high.<\/p>\n

However, matic bulls are active above the $1.15 level. There is also a key contracting triangle forming with resistance at $1.22 on the 4-hours chart of the MATIC\/USD pair. \u00a0On the upside, an immediate resistance is near the $1.22 zone.<\/p>\n

<\/a><\/p>\n

Source: MATICUSD on TradingView.com<\/a><\/p>\n

The first major resistance is forming near the $1.240 zone. The main resistance is now forming near the $1.300 level. If there is an upside break above the $1.300 and $1.304 resistance levels, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.50 level.<\/p>\n

Dips Limited in MATIC?<\/h2>\n

If MATIC price fails to continue higher above the $1.22 or $1.24 levels, it could start a downside correction. An immediate support on the downside is near the $1.150 level.<\/p>\n

The main support is near the $1.060 level. A downside break below the $1.060 level could open the doors for a fresh decline towards $0.950 or the 100 simple moving average (4-hours). The next major support is near the $0.850 level.<\/p>\n

Technical Indicators<\/p>\n

4-hours MACD \u2013 The MACD for MATIC\/USD is slowly losing momentum in the bullish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $1.15 and $1.060.<\/p>\n

Major Resistance Levels \u2013 $1.22, $1.24 and $1.30.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MATIC price started a major increase from the $0.840 support zone. Polygon buyers pumped the price above $1.20 and there could be more upsides.<\/em><\/p>\n

MATIC price rallied above the $1.00 and $1.20 resistance levels against the US dollar.
\nThe price is trading well above $1.00 and the 100 simple moving average (4-hours).
\nThere is a key contracting triangle forming with resistance at $1.22 on the 4-hours chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to rise and might soon revisit the $1.50 resistance zone.<\/p>\n

Polygon\u2019s MATIC Price Rallies Steadily<\/h2>\n

After forming a base above the $0.800 level, polygon\u2019s price started a fresh increase. MATIC price broke the $0.880 and $0.980 resistance levels to move into a positive zone.<\/p>\n

There was a strong move above the $1.00 resistance and the 100 simple moving average (4-hours). Finally, the price surged above the $1.20 resistance. A high was formed near $1.304 and the price recently started a downside correction, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

There was a move below the $1.22 and $1.20 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.838 swing low to $1.304 high.<\/p>\n

However, matic bulls are active above the $1.15 level. There is also a key contracting triangle forming with resistance at $1.22 on the 4-hours chart of the MATIC\/USD pair. \u00a0On the upside, an immediate resistance is near the $1.22 zone.<\/p>\n

<\/a><\/p>\n

Source: MATICUSD on TradingView.com<\/a><\/p>\n

The first major resistance is forming near the $1.240 zone. The main resistance is now forming near the $1.300 level. If there is an upside break above the $1.300 and $1.304 resistance levels, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.50 level.<\/p>\n

Dips Limited in MATIC?<\/h2>\n

If MATIC price fails to continue higher above the $1.22 or $1.24 levels, it could start a downside correction. An immediate support on the downside is near the $1.150 level.<\/p>\n

The main support is near the $1.060 level. A downside break below the $1.060 level could open the doors for a fresh decline towards $0.950 or the 100 simple moving average (4-hours). The next major support is near the $0.850 level.<\/p>\n

Technical Indicators<\/p>\n

4-hours MACD \u2013 The MACD for MATIC\/USD is slowly losing momentum in the bullish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $1.15 and $1.060.<\/p>\n

Major Resistance Levels \u2013 $1.22, $1.24 and $1.30.<\/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-11405","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\/11405","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=11405"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11405\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11405"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}