{"id":625140,"date":"2024-06-18T04:58:11","date_gmt":"2024-06-18T04:58:11","guid":{"rendered":"https:\/\/wncen.com\/?p=625140"},"modified":"2024-06-18T04:23:53","modified_gmt":"2024-06-18T04:23:53","slug":"matic-price-prediction-polygon-0-5150","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/matic-analysis\/matic-price-prediction-polygon-0-5150\/","title":{"rendered":"MATIC Price Prediction: Can Polygon Recover From The Recent Crash?"},"content":{"rendered":"<p><em>MATIC price is down over 15% and tested the $0.5150 support. Polygon is slowly recovering, but the bears might be active near $0.5650 and $0.5720.<\/em><\/p>\n<ul>\n<li>MATIC price started a fresh decline from the $0.6285 resistance zone against the US dollar.<\/li>\n<li>The price is trading below $0.570 and the 100-hour simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC\/USD pair (data source from Kraken).<\/li>\n<li>The pair could recover and test the $0.5720 resistance zone in the near term.<\/li>\n<\/ul>\n<h2>Polygon Price Takes Hit<\/h2>\n<p>After a decent increase, Polygon\u2019s price faced heavy resistance near the $0.6285 zone. MATIC formed a short-term top at $0.6286 and recently started a fresh decline like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-slide-64500\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-support-3350\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>.<\/p>\n<p>There was a sharp move below the $0.600 and $0.5720 support levels. The price even dipped below $0.5250 and tested $0.5150. A low was formed at $0.5151 and the price is now attempting to recover. There was a move above the $0.5350 resistance level.<\/p>\n<p>The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6286 swing high to the $0.5151 low. MATIC is trading below $0.560 and the 100 simple moving average (4 hours).<\/p>\n<p>Immediate resistance is near the $0.5550 zone. The first major resistance is near the $0.5720 level or the 50% Fib retracement level of the downward move from the $0.6286 swing high to the $0.5151 low. There is also a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC\/USD pair.<\/p>\n<figure id=\"attachment_625141\" aria-describedby=\"caption-attachment-625141\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-625141 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?resize=1024%2C461\" alt=\"MATIC price Polygon\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/MATIC.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-625141\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/MATICUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">MATICUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>If there is an upside break above the $0.5720 resistance level, the price could continue to rise. The next major resistance is near $0.5850. A clear move above the $0.5850 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.6285 level or $0.650.<\/p>\n<h2>Another Decline in MATIC?<\/h2>\n<p>If MATIC\u2019s price fails to rise above the $0.5720 resistance level, it could start another decline. Immediate support on the downside is near the $0.5320 level.<\/p>\n<p>The main support is near the $0.5150 level. A downside break below the $0.5150 level could open the doors for a fresh decline toward $0.50. The next major support is near the $0.4850 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for MATIC\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now below the 30 level.<\/p>\n<p>Major Support Levels \u2013 $0.5320 and $0.5150.<\/p>\n<p>Major Resistance Levels \u2013 $0.5600, $0.5720, and $0.5850.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MATIC price is down over 15% and tested the $0.5150 support. Polygon is slowly recovering, but the bears might be active near $0.5650 and $0.5720. MATIC price started a fresh decline from the $0.6285 resistance zone against the US dollar. The price is trading below $0.570 and the 100-hour simple moving average. There is a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC\/USD pair (data source from Kraken). The pair could recover and test the $0.5720 resistance zone in the near term. Polygon Price Takes Hit After a decent increase, Polygon\u2019s price faced heavy resistance near the $0.6285 zone. MATIC formed a short-term top at $0.6286 and recently started a fresh decline like Bitcoin and Ethereum. There was a sharp move below the $0.600 and $0.5720 support levels. The price even dipped below $0.5250 and tested $0.5150. A low was formed at $0.5151 and the price is now attempting to recover. There was a move above the $0.5350 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6286 swing high to the $0.5151 low. MATIC is trading below $0.560 and the 100 simple moving average (4 hours). Immediate resistance is near the $0.5550 zone. The first major resistance is near the $0.5720 level or the 50% Fib retracement level of the downward move from the $0.6286 swing high to the $0.5151 low. There is also a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC\/USD pair. If there is an upside break above the $0.5720 resistance level, the price could continue to rise. The next major resistance is near $0.5850. A clear move above the $0.5850 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.6285 level or $0.650. Another Decline in MATIC? If MATIC\u2019s price fails to rise above the $0.5720 resistance level, it could start another decline. Immediate support on the downside is near the $0.5320 level. The main support is near the $0.5150 level. A downside break below the $0.5150 level could open the doors for a fresh decline toward $0.50. The next major support is near the $0.4850 level. Technical Indicators Hourly MACD \u2013 The MACD for MATIC\/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for MATIC\/USD is now below the 30 level. Major Support Levels \u2013 $0.5320 and $0.5150. Major Resistance Levels \u2013 $0.5600, $0.5720, and $0.5850.<\/p>\n","protected":false},"author":67,"featured_media":625142,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[87399],"tags":[80450,76656,79614,83584],"class_list":["post-625140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matic-analysis","tag-maticbtc","tag-maticusd","tag-maticusdt","tag-polygon"],"acf":[],"yoast_head":"\n<title>MATIC Price Prediction: Can Polygon Recover From The Recent Crash?<\/title>\n<meta name=\"description\" content=\"MATIC price is down over 15% and tested the $0.5150 support. 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