2024-5-8 19:00 |
Polygon (MATIC) has broken out from a Channel Down pattern, but the price has failed to break above the $0.75 resistance level. According to a technical analysis by altFINS, MATIC is currently retesting the breakout level, and investors are waiting for a successful retest and break above $0.75, which could signal a trend reversal with a potential 15% upside to $0.86, the 200-day moving average.
However, the overall trend for MATIC remains bearish across all time horizons, including short, medium, and long-term. The price must break back above the 200-day moving average to confirm a trend reversal.
Source: altFINS – Start using it today
Mixed Momentum and Key Support/Resistance LevelsMATIC’s momentum indicators present a mixed picture, with the MACD Line above the MACD Signal Line (bullish) but the RSI below 45 (bearish). The declining MACD Histogram bars suggest that momentum is weakening, which could hinder MATIC’s ability to break above the $0.75 resistance.
Key support levels for MATIC are identified at $0.60 and $0.50, while resistance levels are noted at $0.75 (previous support), $0.90, and the $1.00-$1.05 range.
.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less – Avalanche (AVAX) Faces Rejection at $40-$43 Resistance, Retests 200-Day MAAvalanche (AVAX) has broken above its 200-day moving average (approximately $35) but faced rejection at the $40-$43 resistance zone. The price has since pulled back to the $35 support level and the 200-day MA, retesting the breakout.
The technical analysis by altFINS suggests that the $35 support area may not hold, as momentum is fading, indicated by the declining MACD Histogram bars.
Source: altFINS – Start using it today
Mixed Trends and Weakening MomentumAVAX is currently in a downtrend on both short and medium-term time frames, while maintaining an uptrend on the long-term basis. The mixed momentum indicators, with the MACD Line above the MACD Signal Line (bullish) and the RSI below 45 (bearish), coupled with the declining MACD Histogram bars, suggest that the momentum is weakening.
Key support levels for AVAX are identified at $35 and $28, while resistance levels are noted at the $40-$43 range (previous support) and $50.
Factors Contributing to its Price PlungeSeveral factors may be contributing to the recent price plunge in both MATIC and AVAX:
Overall Market Sentiment: The broader cryptocurrency market has been experiencing a downturn, which may be affecting the prices of MATIC and AVAX. Profit-Taking: As both MATIC and AVAX have seen significant price increases in the past, some investors may be taking profits, leading to increased selling pressure. Technical Resistance: The inability of MATIC and AVAX to break above key resistance levels may be causing some investors to lose confidence and sell their positions.Technical factors, such as the struggle to break above key resistance levels and weakening momentum, have contributed to the recent price plunges in Polygon (MATIC) and Avalanche (AVAX).
Read more: Experts Say VeChain (VET) is ‘Cooking Something’ in the Real World Asset industry – Here’s Why
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platformICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Are Polygon (MATIC) And Avalanche (AVAX) Crypto Prices Poised For a Breakout Following Their Recent Slump? appeared first on CaptainAltcoin.
Similar to Notcoin - Blum - Airdrops In 2024
Matic Network (MATIC) на Currencies.ru
|
