{"id":561881,"date":"2023-11-22T04:58:53","date_gmt":"2023-11-22T04:58:53","guid":{"rendered":"https:\/\/www.wncen.com\/?p=561881"},"modified":"2024-06-11T14:31:23","modified_gmt":"2024-06-11T14:31:23","slug":"matic-price-prediction-polygon-down-0-728","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/matic-price-prediction-polygon-down-0-728\/","title":{"rendered":"MATIC Price Prediction: Polygon Turned Sell On Rallies In Short-Term"},"content":{"rendered":"<p><em>MATIC price is down over 10% after the SEC\u2019s lawsuit against Kraken mentioned MATIC as security. Polygon is under pressure and might struggle to recover.<\/em><\/p>\n<ul>\n<li>MATIC price started a fresh decline from the $0.98 resistance against the US dollar.<\/li>\n<li>The price is trading below $0.80 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key bearish trend line forming with resistance near $0.788 on the 4-hour chart of the MATIC\/USD pair (data source from Kraken).<\/li>\n<li>The pair could continue to decline if it stays below the $0.800 resistance zone.<\/li>\n<\/ul>\n<h2>Polygon Price Takes Hit<\/h2>\n<p>After a decent increase, Polygon\u2019s price struggled to clear the $1.00 resistance. MATIC formed a high near $0.9829 and recently started a steady decline, underperforming <a href=\"https:\/\/www.wncen.com\/analysis\/btc\/bitcoin-price-plunge-35650\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/www.wncen.com\/analysis\/eth\/ethereum-price-recovery-trouble-2000\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>.<\/p>\n<p>There was a drop below the $0.920 and $0.850 support levels. The bears even pushed the price below the $0.820 support and the 100 simple moving average (4 hours). Finally, it tested the $0.728 support. A low has formed near $0728 and the price is now consolidating losses.<\/p>\n<p>MATIC is trading below $0.80 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.788 on the 4-hour chart of the MATIC\/USD pair.<\/p>\n<p>Immediate resistance is near the $0.785 level or the trend line. It is near the 23.6% Fib retracement level of the recent decline from the $0.9829 swing high to the $0.7285 low. The first major resistance is near the $0.800 level. If there is an upside break above the $0.800 resistance level, the price could continue to rise.<\/p>\n<p><a href=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-561882\" src=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?resize=1024%2C468\" alt=\"MATIC Price Prediction\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?w=1835 1835w, https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?w=460 460w, https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?w=768 768w, https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?w=860 860w, https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?w=1536 1536w, https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?w=750 750w, https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/11\/MATIC-1.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/MATICUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">MATICUSD on TradingView.com<\/a><\/p>\n<p>The next major resistance is near $0.855 or the 50% Fib retracement level of the recent decline from the $0.9829 swing high to the $0.7285 low. A clear move above the $0.855 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.920 level or $0.950.<\/p>\n<h2>More Losses in MATIC?<\/h2>\n<p>If MATIC\u2019s price fails to rise above the $0.800 resistance level, it could continue to move down. Immediate support on the downside is near the $0.7285 level.<\/p>\n<p>The main support is near the $0.700 level. A downside break below the $0.700 level could open the doors for a fresh decline toward $0.650. The next major support is near the $0.618 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for MATIC\/USD is gaining momentum in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.728 and $0.700.<\/p>\n<p>Major Resistance Levels \u2013 $0.785, $0.800, and $0.855.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MATIC price is down over 10% after the SEC\u2019s lawsuit against Kraken mentioned MATIC as security. Polygon is under pressure and might struggle to recover. MATIC price started a fresh decline from the $0.98 resistance against the US dollar. The price is trading below $0.80 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.788 on the 4-hour chart of the MATIC\/USD pair (data source from Kraken). The pair could continue to decline if it stays below the $0.800 resistance zone. Polygon Price Takes Hit After a decent increase, Polygon\u2019s price struggled to clear the $1.00 resistance. MATIC formed a high near $0.9829 and recently started a steady decline, underperforming Bitcoin and Ethereum. There was a drop below the $0.920 and $0.850 support levels. The bears even pushed the price below the $0.820 support and the 100 simple moving average (4 hours). Finally, it tested the $0.728 support. A low has formed near $0728 and the price is now consolidating losses. MATIC is trading below $0.80 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $0.788 on the 4-hour chart of the MATIC\/USD pair. Immediate resistance is near the $0.785 level or the trend line. It is near the 23.6% Fib retracement level of the recent decline from the $0.9829 swing high to the $0.7285 low. The first major resistance is near the $0.800 level. If there is an upside break above the $0.800 resistance level, the price could continue to rise. Source: MATICUSD on TradingView.com The next major resistance is near $0.855 or the 50% Fib retracement level of the recent decline from the $0.9829 swing high to the $0.7285 low. A clear move above the $0.855 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.920 level or $0.950. More Losses in MATIC? If MATIC\u2019s price fails to rise above the $0.800 resistance level, it could continue to move down. Immediate support on the downside is near the $0.7285 level. The main support is near the $0.700 level. A downside break below the $0.700 level could open the doors for a fresh decline toward $0.650. The next major support is near the $0.618 level. Technical Indicators 4 hours MACD \u2013 The MACD for MATIC\/USD is gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now below the 50 level. Major Support Levels \u2013 $0.728 and $0.700. Major Resistance Levels \u2013 $0.785, $0.800, and $0.855.<\/p>\n","protected":false},"author":67,"featured_media":561883,"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":[76656,79614,83584],"class_list":["post-561881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-maticusd","tag-maticusdt","tag-polygon"],"acf":[],"yoast_head":"\n<title>MATIC Price Prediction: Polygon Turned Sell On Rallies In Short-Term<\/title>\n<meta name=\"description\" content=\"MATIC price is down over 10% after the SEC\u2019s lawsuit against Kraken mentioned MATIC as security. 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