MATIC Price Prediction: Polygon Bears Aim $1 or Lower

Name	Symbol	Market	Market Cap ($)	Algorithm
Polygon	MATICUSD	Crypto	4,852,647,544	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Polygon

MATICUSD

Crypto

4,852,647,544

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.5207	0.6727	0.6729

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.5207

0.6727

0.6729

High Price	Low Price	Open Price	Prev. Close	52 Week Range
			0.5207	0.280000 - 1.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5207

0.280000 - 1.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:59:01	185.40	0.5207	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:59:01

185.40

0.5207

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	MATIC	MATICEUR	MATICGBP	MATICBTC

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

MATIC Price Prediction: Polygon Bears Aim $1 or Lower

06/03/2023 7:58am

NEWSBTC

MATIC price declined heavily below the $1.25 support. Polygon bears remain in action, and they might aim a move towards the $1.00 support zone. MATIC price started a fresh decline from well above the $1.30 resistance against the US dollar. The price is trading below $1.20 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $1.15 on the 4-hours chart of the MATIC/USD pair (data source from Kraken). The pair could continue to slide if there is a break below the $1.10 support zone. Polygon’s MATIC Price Dives 20% In the past few days, polygon’s price saw a strong decline from well above the $1.30 zone. MATIC gained pace below the $1.25 and $1.22 support levels. The price is down over 20% in the past few days, unlike bitcoin and ethereum. The price even tested the $1.10 level. A low is formed near $1.092 and the price is now consolidating losses. It is now trading below $1.20 and the 100 simple moving average (4-hours). MATIC price is now facing resistance near the $1.15 level. There is also a major bearish trend line forming with resistance near $1.15 on the 4-hours chart of the MATIC/USD pair. The trend line is near the 23.6% Fib retracement level of the downward move from the $1.2996 swing high to $1.092 low. The first major resistance is forming near the $1.20 zone. It is close to the 50% Fib retracement level of the downward move from the $1.2996 swing high to $1.092 low. Source: MATICUSD on TradingView.com If there is an upside break above the $1.20 resistance level, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.25 level or even $1.28. Downside Break in MATIC? If MATIC price fails to rise above the $1.15 and $1.18 resistance levels, it could continue to move down. An immediate support on the downside is near the $1.10 level. The main support is near the $1.08 level. A downside break below the $1.08 level could open the doors for a fresh decline towards $1.00. The next major support is near the $0.945 level. Technical Indicators 4-hours MACD – The MACD for MATIC/USD is gaining momentum in the bearish zone. 4-hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now below the 50 level. Major Support Levels – $1.10 and $1.08. Major Resistance Levels – $1.15, $1.18 and $1.20.

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