This website uses cookies to ensure you get the best experience on our website

Technical Analysis for MATUSD for 29th September 2022

Polygon Prices Volatile; are MATIC Bulls readying for $1?

Past Performance of MAT

Like the rest of the crypto market, Polygon is moving within a narrow range and is bearish. Therefore, while buyers stand a chance, sellers may press on and force MATIC below multi-week support. Per the MATIC price arrangement in the daily chart, support lies at $0.701.

MATIC Technical Analysis

MATIC prices are range bound at spot rates, anchored within the September 22 bull bar despite strong opposition to the upside. Primary support is at $0.701, marking last week's lows and flashing with the 50 percent Fibonacci retracement level of the June to August 2022 trade range. Technically, traders might find loading opportunities if prices are above $0.701, targeting $0.930 in the medium term. Conversely, sharp losses below this week's low may crush bulls, initiating a sell-off towards $0.60, the 61.8 percent Fibonacci retracement of the above-mentioned trade range.

What to Expect from MAT

The crypto market is volatile, and so is MATIC. There are hints of strength, but the uptrend may hold if prices exceed $0.701. This may, in turn, fan demand, lifting the coin towards $0.930 and later $1 in a buy trend continuation formation.

Resistance level to watch: $0.930

Support level to watch: $0.701

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020