cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

MATIC: Experts Warn Of Key Support Level As Price Hits Two-Year Low Levels

-

by

in

MATIC, Polygon’s native token, recently suffered a significant price decline amid a broader market downturn. The token dropped over 20% in the past month, reaching its lowest price level in two years. As the market recovers, some analysts have made a bullish case for the token but warned of a key level to watch.

MATIC Hits Two-Year Low Levels

Over the past few months, MATIC has registered a steady decline from its one-year high of $1.27. Since July, the token’s price has retraced 20.5%, falling from the $0.55 support zone to the $0.40 mark.

During the August 5 market crash, where most cryptocurrencies plunged by 20%, MATIC fell to a two-year low price of $0.35. This level, last seen in June 2022, represented a 30% decrease from its price at the beginning of the month.

MATIC’s market capitalization also fell by 30.2% during the crash, going from $4.6 billion to $3.5 billion. Since then, the token has lost its spot among the top 20 cryptocurrencies by this metric. Polygon’s native token currently sits at the 28th largest cryptocurrency, with a market cap of $3.8 billion.

The token has reclaimed the $0.40 resistance level, hovering between the $0.40 and $0.43 price range. Despite the 22% recovery from the crash, the token continues to move within a range not seen since June 2022.

However, some market watchers consider that this level could be the best time to accumulate MATIC at a low price. On Wednesday morning, an analyst highlighted that the token is “at its weekly support, and the RSI has also bottomed out.”

All Eyes On Key Support Zone

Following this week’s Monday retrace, pseudonym crypto analyst Cryptorphic pointed out that MATIC hit the lower support zone, set between $0.31-$0.38, “as expected.” The analyst emphasized that the token must hold this level, as if “it fails and breaks down, things could turn out poorly.”

To Cryptorphic, if the token maintains above the crucial support zone, it could attempt to reclaim another key resistance level at the $0.98 mark. The analyst also set a retest of the token’s all-time high (ATH) price of $2.92 as a long-term target.

Similarly, another market watcher pointed out that Polygon’s native token “bounced perfectly from the lower boundary of the falling wedge pattern.” This suggested that investors could expect growth toward the $0.75 resistance level if the token broke above the $0.465 mark.

Meanwhile, renowned crypto analyst Ali Martinez made a bold prediction for MATIC. According to Martinez, the token “will melt faces” if the altcoin season kicks off.

Per the chart, MATIC displays a multi-year descending triangle pattern. A breakout from the upper line of the pattern, set at $0.89, could trigger a massive rally to unprecedented highs similar to the 2021 run.

The analyst suggested a 15,169% surge toward the $50 mark if history repeats itself. However, he warned investors not to “go ape yet” as a “weekly close below $0.30 would invalidate the bullish thesis.” As of this writing, MATIC is trading at $0.41, a 1.1% drop in the last 24 hours.

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (458) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (74) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (74) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (5) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (4) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (6) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.