{"id":18416,"date":"2023-03-07T11:46:23","date_gmt":"2023-03-07T11:46:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/matic-ranged-as-bears-target-1\/"},"modified":"2023-03-07T11:46:23","modified_gmt":"2023-03-07T11:46:23","slug":"matic-ranged-as-bears-target-1","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/matic-ranged-as-bears-target-1\/","title":{"rendered":"MATIC ranged as bears target $1"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678188698879-3ac4dead-0938-4f1d-a300-d8c007d0423d-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678188698879-3ac4dead-0938-4f1d-a300-d8c007d0423d-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678188698879-3ac4dead-0938-4f1d-a300-d8c007d0423d-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1678188698879-3ac4dead-0938-4f1d-a300-d8c007d0423d-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Polygon price faces a potential dump to lows of $0.94 if bears breach a major support area.<\/li>\n<li dir=\"ltr\">MATIC is currently below the 50 simple moving average and 4-hour RSI is below 50.<\/li>\n<li dir=\"ltr\">A downward flip for Bitcoin could impact MATIC movement. <\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/polygon\/\">Polygon price<\/a> has seen an extended downward trajectory since the sell-off that hit the broader crypto market in late 2022.<\/p>\n<p dir=\"ltr\">A strong bounce in the first two months of the year has however hit tough terrain with price declines across the market contributing to MATIC reversing course, with a potential breakdown to lows of $1.00 likely if bears take further control of short term market sentiment.\u00a0<\/p>\n<p dir=\"ltr\">In particular, the outlook for <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> suggests bears are not ready to give up territory around $22,500, a scenario that could see BTC dump and catalyse fresh losses across the market.<\/p>\n<h2 dir=\"ltr\">Polygon price forecast: Technical picture for MATIC above key support<\/h2>\n<p dir=\"ltr\">MATIC continues to hover above $1.00, but looks constrained below the recent supported turned resistance zone around $1.15.<\/p>\n<p dir=\"ltr\">A slight upside early Tuesday indeed looks to have hit a supply zone near this price range, although with the 4-hour chart printing four successive green candles, the chances of bulls retesting resistance at $1.18 are there.<\/p>\n<p dir=\"ltr\">Notably, the Polygon community is awaiting the <a href=\"https:\/\/coinjournal.net\/news\/polygon-announces-zkevm-mainnet-beta-will-go-live-next-month\/\">launch<\/a> of the zkEVM mainnet beta, an event likely to trigger new buying momentum for the cryptocurrency towards the scheduled rollout on 27 March.<\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/02\/07\/1678187892947-dfd6b7d1-b736-4a6e-a2c2-1533fbdec0c4.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\" width=\"600\" height=\"236\"\/><span class=\"fr-inner\">Polygon price on the 4-hour chart. Source:\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/AcIrioty\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">If the $1.15 support holds, a new breakout could see bulls reclaim $1.18 as support. A pump above this level could push MATIC\/USD to $1.25 and possibly the main hurdle around $1.29. However, the 200 MA is flat lining near $1.27 to offer the immediate resistance line.<\/p>\n<h2 dir=\"ltr\">Polygon price bearish picture<\/h2>\n<p dir=\"ltr\">As highlighted above, MATIC price is currently trading below the 50 SMA and the 4-hour RSI is slightly sloped below 50 after bouncing off the bearish line.<\/p>\n<p dir=\"ltr\">On a further technical outlook, the MACD indicator recently flipped bullish, but Polygon\u2019s price is facing major resistance near the 23.6% Fib retracement level of the move from the $1.30 swing high to the $1.10 low.\u00a0<\/p>\n<p dir=\"ltr\">If a breakdown happens, and bears gain the upper hand, MATIC could dump to support at 1.07 and then under $1.00 to $0.94.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/polygon-price-prediction-matic-risks-dip-to-1-as-bears-pin-bitcoin-under-22-5k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Polygon price faces a potential dump to lows of $0.94 if bears breach a major support area. MATIC is currently below the 50 simple moving average and 4-hour RSI is below 50. A downward flip for Bitcoin could impact MATIC movement. Polygon price [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":18417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18416"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=18416"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/18417"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=18416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=18416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=18416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}