{"id":553100,"date":"2023-09-27T14:00:04","date_gmt":"2023-09-27T14:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=553100"},"modified":"2023-09-27T12:58:04","modified_gmt":"2023-09-27T12:58:04","slug":"polygon-price-speculation-can-matic-defend-the-0-5-threshold","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/polygon-price-speculation-can-matic-defend-the-0-5-threshold\/","title":{"rendered":"Polygon Price Speculation: Can MATIC Defend The $0.5 Threshold?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Polygon (MATIC) has been treading in the water for much of September, caught in a tight range that reflects the uncertainty gripping the cryptocurrency market. As the altcoin hovers around the $0.50 mark, traders are closely eyeing a significant technical indicator that could spell trouble for its price trajectory.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The altcoin&#8217;s price, currently at $0.508295 according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/polygon\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, has shown signs of weakness, with a 2.4% decline in the past 24 hours and a 7.3% dip over the past week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the real concern for MATIC investors lies in the potential reversal from the down-sloping trendline. This trendline, intact since February 2023, has kept MATIC in check for months. If breached, it could unleash a wave of selling pressure that might push the price below the critical $0.50 level.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/ada\/cardano-0-24-support-test-can-ada-price-reverse-its-downward-trend\/\" target=\"_blank\" rel=\"noopener \">Cardano $0.24 Support Test: Can ADA Price Reverse Its Downward Trend?<\/a><\/div>\n<h2><strong>Polygon Faces Increasing Selling Pressure On The Horizon<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Traders are well aware that when an asset approaches a long-standing downtrend resistance line, it often faces increased selling pressure. <\/span><a href=\"https:\/\/coingape.com\/markets\/polygon-price-prediction-will-correction-push-matic-below-0-5\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Analysts suggest<\/span><\/a><span style=\"font-weight: 400\"> that a reversal from this trendline could lead to an 18% price decline, potentially dragging MATIC down to the next key support level at $0.42. It&#8217;s a make-or-break moment for the altcoin, and its fate hangs in the balance.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For those who remain bullish on Polygon&#8217;s native coin, patience is key. A daily close above the resistance trendline would signal a significant shift in market sentiment. Such a breakthrough could provide the bulls with the momentum they need to initiate a recovery rally. If successful, MATIC may set its sights on initial resistance at $0.63, with an even more ambitious target of $0.69.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/X8Bm5vkx\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">MATIC market cap slightly below the $5 billion level. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>Polygon 2.0: A Potential Game Changer<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Adding a layer of complexity to this price analysis is <\/span><a href=\"https:\/\/www.fool.com\/investing\/2023\/09\/26\/2-cryptocurrencies-down-and-ready-to-pop\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Polygon&#8217;s recent announcement<\/span><\/a><span style=\"font-weight: 400\"> of Polygon 2.0. This strategic overhaul envisions a fundamental shift in Polygon&#8217;s blockchain architecture and an expansion beyond Ethereum to include various other blockchains. Polygon aims to execute this transformation in the early fourth quarter, potentially paving the way for a surge in interest and demand for its native coin.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/is-terra-classic-planning-for-ustc-to-be-pegged-to-the-dollar-again\/\" target=\"_blank\" rel=\"noopener \">Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again?<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-553109 size-medium\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-92.png?w=460&#038;resize=460%2C283\" alt=\"\" width=\"460\" height=\"283\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-92.png?w=713 713w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-92.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><\/p>\n<p><span style=\"font-weight: 400\">As MATIC teeters on the edge of a crucial technical juncture, the cryptocurrency market remains a battleground of uncertainty. Traders and investors must exercise caution and closely monitor developments around the down-sloping trendline. The success or failure of MATIC to break free from this resistance could determine its price trajectory in the coming weeks. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, the impending rollout of Polygon 2.0 adds an extra layer of anticipation to an already dynamic cryptocurrency landscape, promising potential surprises for MATIC holders and the wider crypto community.<\/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><span style=\"font-weight: 400\">Featured image from Shutterstock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon (MATIC) has been treading in the water for much of September, caught in a tight range that reflects the uncertainty gripping the cryptocurrency market. As the altcoin hovers around the $0.50 mark, traders are closely eyeing a significant technical indicator that could spell trouble for its price trajectory. The altcoin&#8217;s price, currently at $0.508295 according to CoinGecko, has shown signs of weakness, with a 2.4% decline in the past 24 hours and a 7.3% dip over the past week.\u00a0 However, the real concern for MATIC investors lies in the potential reversal from the down-sloping trendline. This trendline, intact since February 2023, has kept MATIC in check for months. If breached, it could unleash a wave of selling pressure that might push the price below the critical $0.50 level. Related Reading: Cardano $0.24 Support Test: Can ADA Price Reverse Its Downward Trend? Polygon Faces Increasing Selling Pressure On The Horizon Traders are well aware that when an asset approaches a long-standing downtrend resistance line, it often faces increased selling pressure. Analysts suggest that a reversal from this trendline could lead to an 18% price decline, potentially dragging MATIC down to the next key support level at $0.42. It&#8217;s a make-or-break moment for the altcoin, and its fate hangs in the balance. For those who remain bullish on Polygon&#8217;s native coin, patience is key. A daily close above the resistance trendline would signal a significant shift in market sentiment. Such a breakthrough could provide the bulls with the momentum they need to initiate a recovery rally. If successful, MATIC may set its sights on initial resistance at $0.63, with an even more ambitious target of $0.69. MATIC market cap slightly below the $5 billion level. Chart: TradingView.com Polygon 2.0: A Potential Game Changer Adding a layer of complexity to this price analysis is Polygon&#8217;s recent announcement of Polygon 2.0. This strategic overhaul envisions a fundamental shift in Polygon&#8217;s blockchain architecture and an expansion beyond Ethereum to include various other blockchains. Polygon aims to execute this transformation in the early fourth quarter, potentially paving the way for a surge in interest and demand for its native coin. Related Reading: Is Terra Classic Planning For USTC To Be Pegged To The Dollar Again? As MATIC teeters on the edge of a crucial technical juncture, the cryptocurrency market remains a battleground of uncertainty. Traders and investors must exercise caution and closely monitor developments around the down-sloping trendline. The success or failure of MATIC to break free from this resistance could determine its price trajectory in the coming weeks. Moreover, the impending rollout of Polygon 2.0 adds an extra layer of anticipation to an already dynamic cryptocurrency landscape, promising potential surprises for MATIC holders and the wider crypto community. (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 Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":553102,"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-553100","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 Price Speculation: Can MATIC Defend $0.5 Threshold?<\/title>\n<meta name=\"description\" content=\"Polygon (MATIC) has been treading in the water for much of September, caught in a tight range that reflects the uncertainty gripping the cryptocurrency\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Polygon Price Speculation: Can MATIC Defend The $0.5 Threshold?","url":"http:\/\/wncen.com\/news\/polygon-price-speculation-can-matic-defend-the-0-5-threshold\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/polygon-price-speculation-can-matic-defend-the-0-5-threshold\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-91.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-91.png?fit=1101%2C729"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","matic price","polygon","price action"],"dateCreated":"2023-09-27T14:00:04Z","datePublished":"2023-09-27T14:00:04Z","dateModified":"2023-09-27T14:00:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Polygon Price Speculation: Can MATIC Defend The $0.5 Threshold?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/polygon-price-speculation-can-matic-defend-the-0-5-threshold\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/polygon-price-speculation-can-matic-defend-the-0-5-threshold\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-91.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-91.png?fit=1101%2C729\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"matic price\",\"polygon\",\"price action\"],\"dateCreated\":\"2023-09-27T14:00:04Z\",\"datePublished\":\"2023-09-27T14:00:04Z\",\"dateModified\":\"2023-09-27T14:00:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-91.png?fit=1101%2C729","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=553100"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/553102"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=553100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=553100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=553100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}