{"id":544553,"date":"2023-07-27T06:27:15","date_gmt":"2023-07-27T06:27:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=544553"},"modified":"2023-07-27T06:27:15","modified_gmt":"2023-07-27T06:27:15","slug":"polygon-warning-signs-point-to-a-slide","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/polygon-warning-signs-point-to-a-slide\/","title":{"rendered":"Polygon Warning Signs Point To Slide In MATIC Price On Support Breakdown"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Polygon (MATIC) has been experiencing a mix of price action, with a 24-hour rally of 3.5% that hints at potential positive movement. However, the coin has suffered a 4.4% slump over the past seven days, indicating underlying bearish sentiments in the market.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite the short-term surge, the weekly time frame presents a negative outlook, primarily due to the failure to break through a long-term horizontal resistance. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Adding to the bearish pressure, an ascending trendline has been broken, signaling a potential further decline in MATIC&#8217;s price.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-544556\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-171.png?resize=997%2C61\" alt=\"\" width=\"997\" height=\"61\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-171.png?w=997 997w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-171.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-171.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-171.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-171.png?w=750 750w\" sizes=\"(max-width: 997px) 100vw, 997px\"><\/p>\n<pre style=\"text-align: center\">Source: <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Coingecko<\/a><\/pre>\n<p><span data-preserver-spaces=\"true\">One of the significant factors contributing to MATIC&#8217;s current bearish scenario is its inability to surpass the significant\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.tradingview.com\/symbols\/MATICUSD\/markets\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">resistance zone of around $0.80<\/span><\/a><span data-preserver-spaces=\"true\">. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/litecoin-bulls-barrel-back-toward-92-level-will-they-succeed\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Litecoin Bulls Barrel Back Toward $92 Level \u2013 Will They Succeed?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">This area had been acting as a strong support level for the altcoin, providing stability during various price fluctuations. However, this support became a formidable resistance over the past two weeks, thwarting MATIC&#8217;s attempts to climb higher.<\/span><\/p>\n<h2><strong>Polygon (MATIC) Ascending Trendline Breakdown<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">An ascending trendline is a sloping line that connects a series of ascending lows in an uptrend. It represents a rising level of support and is often used to gauge the strength of a bullish trend. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The breakdown of this trendline indicates a shift in sentiment, suggesting that buyers are losing control and sellers are gaining momentum.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/n1rLe91N\/\" width=\"2475\" height=\"1187\"><\/p>\n<pre style=\"text-align: center\">MATIC market cap currently at $6.8 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span data-preserver-spaces=\"true\">The breakdown of the ascending trendline sets the stage for a\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coingape.com\/markets\/matic-price-crash-key-support-breakdown\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">potential 22% drop in MATIC&#8217;s price<\/span><\/a><span data-preserver-spaces=\"true\">. If the coin fails to find strong support at lower levels, this decline could be the next crucial movement for the cryptocurrency. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Traders and investors must closely monitor price action to determine if MATIC can stabilize or if further losses are on the horizon.<\/span><\/p>\n<h2><strong>Bear Trap Scenario And Bullish Recovery<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">However, there is a glimmer of hope for MATIC&#8217;s price trajectory. If buyers can push the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.coingecko.com\/en\/coins\/polygon\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">current price<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0above $0.729221, it could invalidate the recent bearish breakdown.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/binance-coin-bnb-price-poised-for-a-major-breakout-which-way-will-it-go\/\" target=\"_blank\" rel=\"noopener \">Binance Coin (BNB) Price Poised For A Major Breakout \u2013 Which Way Will It Go?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">This move could create a bear trap scenario, where traders anticipating a continued decline may be forced to cover their short positions, leading to a sudden surge in buying activity. If this scenario plays out, it could assist MATIC in initiating a bullish recovery.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-544557 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/a-172.png?resize=860%2C383\" alt=\"\" width=\"860\" height=\"383\"><\/p>\n<pre style=\"text-align: center\">MATIC price movement in the last week. Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\" target=\"_blank\" rel=\"noopener nofollow\">CoinMarketCap<\/a><\/pre>\n<p><span data-preserver-spaces=\"true\">As an observer of the cryptocurrency market, it&#8217;s essential to acknowledge that the price of the MATIC token and other digital assets can be highly volatile and subject to various technical and fundamental factors. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While the current price action may raise concerns for some investors, it&#8217;s essential to remember that market conditions can change rapidly.\u00a0<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em>Featured image from CoinChapter<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon (MATIC) has been experiencing a mix of price action, with a 24-hour rally of 3.5% that hints at potential positive movement. However, the coin has suffered a 4.4% slump over the past seven days, indicating underlying bearish sentiments in the market.\u00a0 Despite the short-term surge, the weekly time frame presents a negative outlook, primarily due to the failure to break through a long-term horizontal resistance. Adding to the bearish pressure, an ascending trendline has been broken, signaling a potential further decline in MATIC&#8217;s price. Source: Coingecko One of the significant factors contributing to MATIC&#8217;s current bearish scenario is its inability to surpass the significant\u00a0resistance zone of around $0.80. Related Reading: Litecoin Bulls Barrel Back Toward $92 Level \u2013 Will They Succeed? This area had been acting as a strong support level for the altcoin, providing stability during various price fluctuations. However, this support became a formidable resistance over the past two weeks, thwarting MATIC&#8217;s attempts to climb higher. Polygon (MATIC) Ascending Trendline Breakdown An ascending trendline is a sloping line that connects a series of ascending lows in an uptrend. It represents a rising level of support and is often used to gauge the strength of a bullish trend. The breakdown of this trendline indicates a shift in sentiment, suggesting that buyers are losing control and sellers are gaining momentum. MATIC market cap currently at $6.8 billion. Chart: TradingView.com The breakdown of the ascending trendline sets the stage for a\u00a0potential 22% drop in MATIC&#8217;s price. If the coin fails to find strong support at lower levels, this decline could be the next crucial movement for the cryptocurrency. Traders and investors must closely monitor price action to determine if MATIC can stabilize or if further losses are on the horizon. Bear Trap Scenario And Bullish Recovery However, there is a glimmer of hope for MATIC&#8217;s price trajectory. If buyers can push the\u00a0current price\u00a0above $0.729221, it could invalidate the recent bearish breakdown. Related Reading: Binance Coin (BNB) Price Poised For A Major Breakout \u2013 Which Way Will It Go? This move could create a bear trap scenario, where traders anticipating a continued decline may be forced to cover their short positions, leading to a sudden surge in buying activity. If this scenario plays out, it could assist MATIC in initiating a bullish recovery. MATIC price movement in the last week. Source: CoinMarketCap As an observer of the cryptocurrency market, it&#8217;s essential to acknowledge that the price of the MATIC token and other digital assets can be highly volatile and subject to various technical and fundamental factors. While the current price action may raise concerns for some investors, it&#8217;s essential to remember that market conditions can change rapidly.\u00a0 (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from CoinChapter<\/p>\n","protected":false},"author":557,"featured_media":544559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,86442,83584,4735],"class_list":["post-544553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-matic-price","tag-polygon","tag-price-action"],"acf":[],"yoast_head":"\n<title>Polygon Warning Signs Point To A Slide In MATIC Price<\/title>\n<meta name=\"description\" content=\"Polygon (MATIC) has been experiencing a mix of price action, with a 24-hour rally of 3.5% that hints at potential positive movement. 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Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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