{"id":12402,"date":"2022-11-21T08:54:18","date_gmt":"2022-11-21T12:54:18","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12402"},"modified":"2022-11-21T08:54:18","modified_gmt":"2022-11-21T12:54:18","slug":"matic-price-prediction-breakdown-might-be-the-real-deal-0-70-next","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/21\/matic-price-prediction-breakdown-might-be-the-real-deal-0-70-next\/","title":{"rendered":"MATIC Price Prediction: Breakdown Might be the Real Deal, $0.70 Next?"},"content":{"rendered":"

MATIC price started a major decline from the $1.00 resistance zone. Polygon bears are in control and might aim more losses towards $0.70 in the near term.<\/em><\/p>\n

MATIC price started a major decline from well above $0.95 against the US dollar.
\nThe price is trading below $0.85 and the 100 simple moving average (4-hours).
\nThere is a major bearish trend line forming with resistance at $0.821 on the 4-hours chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to decline towards the $0.70 support zone in the near term.<\/p>\n

Polygon\u2019s MATIC Price Dives<\/h2>\n

Earlier this month, polygon\u2019s price made an attempt to gain pace above the $1.0 resistance zone. However, MATIC struggled to gain bullish momentum for a move above $1.0.<\/p>\n

A high was formed near $0.972 before the price started a fresh decline. There was a steady decline, similar to bitcoin<\/a> and ethereum<\/a>. The bears were able to push the price below the $0.90 support zone and the 100 simple moving average (4-hours).<\/p>\n

Finally, the price broke a major support at $0.840 and traded as low as $0.7748. It is now consolidating losses near the $0.800 level. On the upside, an immediate resistance is near the $0.8210 zone.<\/p>\n

There is also a major bearish trend line forming with resistance at $0.821 on the 4-hours chart of the MATIC\/USD pair. The trend line is near the 23.6% Fib retracement level of the recent decline from the $0.972 swing high to $0.7748 low.<\/p>\n

The first major resistance is forming near the $0.875 zone. It is near the 50% Fib retracement level of the recent decline from the $0.972 swing high to $0.7748 low.<\/p>\n

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

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

The main resistance is now forming near the $1.00 level. If there is an upside break above the $0.90 and $1.00 resistance levels, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.20 level.<\/p>\n

More Losses?<\/h2>\n

If MATIC price rise above the $0.82 and $0.87 resistance levels, it could continue to move down. An immediate support on the downside is near the $0.780 level.<\/p>\n

The main support is near the $0.750 level. A downside break below the $0.750 level could open the doors for a fresh decline towards $0.70. The next major support is near the $0.665 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.78 and $0.70.<\/p>\n

Major Resistance Levels \u2013 $0.821, $0.875 and $1.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MATIC price started a major decline from the $1.00 resistance zone. Polygon bears are in control and might aim more losses towards $0.70 in the near term.<\/em><\/p>\n

MATIC price started a major decline from well above $0.95 against the US dollar.
\nThe price is trading below $0.85 and the 100 simple moving average (4-hours).
\nThere is a major bearish trend line forming with resistance at $0.821 on the 4-hours chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to decline towards the $0.70 support zone in the near term.<\/p>\n

Polygon\u2019s MATIC Price Dives<\/h2>\n

Earlier this month, polygon\u2019s price made an attempt to gain pace above the $1.0 resistance zone. However, MATIC struggled to gain bullish momentum for a move above $1.0.<\/p>\n

A high was formed near $0.972 before the price started a fresh decline. There was a steady decline, similar to bitcoin<\/a> and ethereum<\/a>. The bears were able to push the price below the $0.90 support zone and the 100 simple moving average (4-hours).<\/p>\n

Finally, the price broke a major support at $0.840 and traded as low as $0.7748. It is now consolidating losses near the $0.800 level. On the upside, an immediate resistance is near the $0.8210 zone.<\/p>\n

There is also a major bearish trend line forming with resistance at $0.821 on the 4-hours chart of the MATIC\/USD pair. The trend line is near the 23.6% Fib retracement level of the recent decline from the $0.972 swing high to $0.7748 low.<\/p>\n

The first major resistance is forming near the $0.875 zone. It is near the 50% Fib retracement level of the recent decline from the $0.972 swing high to $0.7748 low.<\/p>\n

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

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

The main resistance is now forming near the $1.00 level. If there is an upside break above the $0.90 and $1.00 resistance levels, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.20 level.<\/p>\n

More Losses?<\/h2>\n

If MATIC price rise above the $0.82 and $0.87 resistance levels, it could continue to move down. An immediate support on the downside is near the $0.780 level.<\/p>\n

The main support is near the $0.750 level. A downside break below the $0.750 level could open the doors for a fresh decline towards $0.70. The next major support is near the $0.665 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.78 and $0.70.<\/p>\n

Major Resistance Levels \u2013 $0.821, $0.875 and $1.00.<\/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-12402","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\/12402","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=12402"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12402\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12402"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}