{"id":22637,"date":"2023-04-26T05:52:39","date_gmt":"2023-04-26T09:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22637"},"modified":"2023-04-26T05:52:39","modified_gmt":"2023-04-26T09:52:39","slug":"matic-price-prediction-polygon-recovery-faces-many-hurdles","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/04\/26\/matic-price-prediction-polygon-recovery-faces-many-hurdles\/","title":{"rendered":"MATIC Price Prediction: Polygon Recovery Faces Many Hurdles"},"content":{"rendered":"

MATIC price is recovering from the $0.95 support zone. Polygon might rise further but there is a major barrier forming near the $1.080 zone.<\/em><\/p>\n

MATIC price is attempting a recovery wave above the $1.00 resistance against the US dollar.
\nThe price is trading below $1.10 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $0.975 on the 4-hour chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to rise if it clears the $1.008 resistance zone.<\/p>\n

Polygon\u2019s MATIC Price Faces Resistance<\/h2>\n

In the past few days, Polygon\u2019s price saw a steady decline from well above $1.12. MATIC declined below the $1.00 support to move into a bearish zone.<\/p>\n

A low is formed near $0.952 and the price is now attempting a recovery wave, similar to Bitcoin<\/a> and Ethereum<\/a>. The price was able to climb above $0.980. Besides, there was a break above a key bearish trend line with resistance near $0.975 on the 4-hour chart of the MATIC\/USD pair.<\/p>\n

The price is still trading below $1.10 and the 100 simple moving average (4 hours). It is now facing resistance near the $1.008 level or the 23.6% Fib retracement level of the downward move from the $1.191 swing high to the $0.952 low.<\/p>\n

If there is an upside break above the $1.008 resistance level, the price could continue to recover. The next major resistance is near $1.08 or the 50% Fib retracement level of the downward move from the $1.191 swing high to the $0.952 low.<\/p>\n

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

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

A clear move above the $1.08 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $1.15 level or $1.20.<\/p>\n

More Losses in MATIC?<\/h2>\n

If MATIC\u2019s price fails to rise above the $1.008 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.98 level.<\/p>\n

The main support is near the $0.95 level. A downside break below the $0.95 level could open the doors for a fresh decline toward $0.88. The next major support is near the $0.82 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.98 and $0.95.<\/p>\n

Major Resistance Levels \u2013 $1.008, $1.08, and $1.12.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MATIC price is recovering from the $0.95 support zone. Polygon might rise further but there is a major barrier forming near the $1.080 zone.<\/em><\/p>\n

MATIC price is attempting a recovery wave above the $1.00 resistance against the US dollar.
\nThe price is trading below $1.10 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $0.975 on the 4-hour chart of the MATIC\/USD pair (data source from Kraken).
\nThe pair could continue to rise if it clears the $1.008 resistance zone.<\/p>\n

Polygon\u2019s MATIC Price Faces Resistance<\/h2>\n

In the past few days, Polygon\u2019s price saw a steady decline from well above $1.12. MATIC declined below the $1.00 support to move into a bearish zone.<\/p>\n

A low is formed near $0.952 and the price is now attempting a recovery wave, similar to Bitcoin<\/a> and Ethereum<\/a>. The price was able to climb above $0.980. Besides, there was a break above a key bearish trend line with resistance near $0.975 on the 4-hour chart of the MATIC\/USD pair.<\/p>\n

The price is still trading below $1.10 and the 100 simple moving average (4 hours). It is now facing resistance near the $1.008 level or the 23.6% Fib retracement level of the downward move from the $1.191 swing high to the $0.952 low.<\/p>\n

If there is an upside break above the $1.008 resistance level, the price could continue to recover. The next major resistance is near $1.08 or the 50% Fib retracement level of the downward move from the $1.191 swing high to the $0.952 low.<\/p>\n

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

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

A clear move above the $1.08 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $1.15 level or $1.20.<\/p>\n

More Losses in MATIC?<\/h2>\n

If MATIC\u2019s price fails to rise above the $1.008 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.98 level.<\/p>\n

The main support is near the $0.95 level. A downside break below the $0.95 level could open the doors for a fresh decline toward $0.88. The next major support is near the $0.82 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.98 and $0.95.<\/p>\n

Major Resistance Levels \u2013 $1.008, $1.08, and $1.12.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-22637","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\/22637","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=22637"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22637\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22637"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}