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MATICUSDT

MATICUSDTI propose to consider the medium-term situation, because in the short term everything looks bad. A symmetrical triangle figure appeared on the chart. The price can go both up and down with a 50/50 chance. In case of an upward movement and consolidation, it is worth considering the targets indicated by blue lines. Target 1 - 1.1517 Target 2 - 1.3871 Target 3 - 1.5898 In case of going down and consolidating below, focus on the red lines as support in the area of 0.4007 - 0.2334 Also you can ask for only 1 altcoins analysis and i will try to do my best to cover as much as i can✍️
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by Andrey_Crypto
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MATIC → Polygon Showing Reversal Signals? A Short Scalp is Near!MATIC (Polygon) is holding above the Daily 200EMA support and has yet to break it after making contact 5 times since breaking it. So why is a short scalp reasonable? How do we trade this? 🤔 We have a few good reasons to be looking for a counter-trend trade; There have been several sell-offs in the $0.95-$1.10 range, a very strong sell-off at $1.10, the 200EMA support has been tested 5 times which adds to the probability it will be broken, and the RSI is at 50.00 and below the moving average. These data points tell us it's time to start looking for counter-trend setups, but we cannot enter a trade until we see confirmation to enter. What we need is a final test of the $0.98 area to get a good entry around $0.93-$0.95. From there, we can short half of our position to the 200EMA ($0.79), take profits, move our stop loss up to our entry price, and then swing the rest of the position down to the Support Zone at $0.665. Taking profits at the 200EMA is about a 1:1 Risk/Reward if our stop is placed just above the previous high at $1.11. That is a reasonable scalp, and the rest, being a bit lower probability of success, allows us to swing the second half of our position without the worry of losing money. We could repeat this approach until either the 200EMA Support breaks or the $1.10 high breaks and stops us out, which lets us know the upward momentum isn't done yet. 💡 Trade Idea 💡 Short Entry: $0.95 🟥 Stop Loss: $1.11 ✅ Take Profit #1: $0.79 ✅ Take Profit #2: $0.67 ⚖️ Risk/Reward Ratio: 1:1.75 🔑 Key Takeaways 🔑 1. Several Sell Signals at Key Resistance area of $0.95 to $1.10 2. Strong Sell Signal After Hitting $1.10 3. Wait for One More Failed Attempt to break $0.95 4. Short a Sell Signal off of $0.95-$1.00 Price Area, Stop Loss above Previous High of 5. RSI at 50.00 and below Moving Average. 💰 Trading Tip 💰 It's reasonable to take half profits at the first support target in a short trade, or the first resistance target in a long trade. You can then move your stop loss up to your entry price and watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading price action 2. Chart analysis 3. Trade management 4. Trade psychology
MShort
by TraderEngineering
#MATIC #Polygon #Final #Update #Wychoff #Distribution #Eddy#MATIC #Polygon #Final #Update #Wychoff #Distribution #Eddy (("All the relevant areas and explanations on the chart are clear and clear, the trading setups need to get confirmation to enter, if you don't know how to get a trigger and confirm entering into transactions, this analysis is not suitable for you, the above analysis is for professionals. and if you are a beginner, my suggestion is that you don't destroy your capital and first learn technical analysis and basic trading along with psychology and risk and capital management from reputable sources and courses, and then enter the financial markets.")) (("The above analysis and setups and points and areas are combined with most of the combined styles such as price action, supply and demand, RTM, ICT and also with the analysis of important indicators such as Dominance Tether and Bitcoin. If you are familiar with the mentioned styles and know how to get approval to enter the above styles, use the above analysis. This is not an investment proposal and only my opinion, please act based on your experience and decisions.")) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I also suggest you to view my #Analysis of the Phases of Richard #Wyckoff #Accumulation & #Distribution on #Bitcoin #Currency from the link below : ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Analyses of Trading Ranges By : Dr. #Eddy SunShine 👨🏻‍💻 1/14/2024 ❤️
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by Eddy_Trade_
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MATIC/USDT upward momentum from demand? 👀🚀MATIC Analysis💎 Paradisers, turn your attention to #MATICUSDT, currently showing a promising indication of an upward trend, having recently broken above its descending trendline and gearing up for a bullish move from a key demand zone. 💎 #POLYGON has been closely following a descending trendline, and its recent break above it has opened the door for a high probability of a bullish move. This is particularly evident from the retest at the demand zone around $0.8791, which is expected to further strengthen the bullish momentum. 💎 However, should #MATIC encounter difficulties in sustaining its position above the $0.8791 demand level, it may become necessary to revisit and modify our trading strategy. Under such circumstances, our focus would shift towards initiating a bullish movement from a lower, strategically significant support level at $0.8412. 💎 Keeping a close watch on this level is crucial, as failing to maintain it could necessitate a strategic pivot, potentially highlighting challenges in upholding a bullish market direction for #MATIC.
MLong
by MyCryptoParadise
Polygon (MATIC) Poised for Further Growth CRYPTOCAP:MATIC is exhibiting trends similar to Ethereum. Currently, it's trading between support levels of $0.86–$0.887 and resistance at $0.91–$0.928, though this may not last long. An upward movement for Polygon seems more probable. Buyers are eyeing the $0.97 price point and the key psychological level of $1. Overcoming this level could significantly accelerate MATIC's growth. A temporary correction might bring MATIC down to support zones at $0.811–$0.834 and further to $0.796. Any further downward movement would depend on the overall market trends, particularly those of Bitcoin.
COINBASE:MATICUSDLong
by DEXWireNews
MATIC/USDT 4HIntervalI invite you to review the chart of MATIC in pair with USDT. First, we will use the blue lines to mark the upward trend channel in which the price is fighting at the lower border. Let's move on to determining the support, and for this purpose we will unfold the trend based fib extension grid, thanks to which we can see a strong support at the level of $0.76, however, if the support is broken and the price leaves the current channel lower, it may result in a price drop close to the height of the channel, which could bring the price to a very strong support zone from $0.61 to $0.53. Looking the other way, we see that the level of $0.86 has effectively reduced the price, only when we go higher, the next resistance is at the level of $0.95, and then we have a visible strong resistance zone from $1.01 to $1.08. At this point, it is worth defining the local downtrend line, which confirms the $0.95 level, as an important resistance. It is worth looking at the RSI indicator, which shows a movement in the lower part of the range, which gives room for possible increases, and what is more, the situation looks similar on the STOCH indicator, but it is worth remembering that we are still in a downward trend and a lot depends on the behavior of the BTC price.
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by cryptodailyuk
Navigating Support and Resistance with Renko ChartsToday we continue our deep dive into support and resistance levels and explore how traders can effectively utilize Renko charts and Donchian channels to identify these price zones. Renko charts, known for their simplicity and ability to filter out market noise, provide a unique perspective on price movement. We'll discuss how Renko charts work and demonstrate their effectiveness in pinpointing support and resistance levels with the help of Donchian channels. Donchian channels are a popular technical analysis tool that maps out the highest highs and lowest lows over a given period. By combining the insights from Renko charts and Donchian channels, traders gain a comprehensive approach to detecting key support and resistance areas in any market condition. Whether you're a novice trader or an experienced professional, we hope this video aids anyone seeking to enhance their ability to define support and resistance for any asset.
Education
by LeafAlgo
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