POLYGON - MATIC/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	MATICUSD
ISIN:

POLYGON - MATIC/USD - Weekly - Technical analysis published on 11/05/2023 (GMT)

Londinia

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Timeframe : Weekly
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

61%

33%

My opinion

Bearish under 0.860000 USD

My targets

0.500000 USD (-27.54%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.860000 USD remains possible. It is advisable to trade POLYGON - MATIC/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.860000 USD. The next bearish objective for sellers is set at 0.500000 USD. A bearish break of this support would revive the bearish momentum. PS: if there is a bullish break in the resistance located at 0.860000 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

Force

0.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by SprangsOpportunities. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The POLYGON - MATIC/USD price is 0.690000 USD. The price registered an increase of +6.15% over 5 days and has been traded over the last 5 days between 0.620000 USD and 0.700000 USD. This implies that the 5 day price is +11.29% from its lowest point and -1.43% from its highest point.

0.620000

0.700000

0.690000

Here is a more detailed summary of the historical variations registered by POLYGON - MATIC/USD:

The Central Records scanner for higher/lower results shows an item:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of POLYGON - MATIC/USD in Weekly shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : Weekly

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Weekly

In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Weekly

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

RSI indicator is back over 50

Type : Bullish

Timeframe : Weekly

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near resistance of triangle

Type : Bearish

Timeframe : Weekly

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	0.500000	0.690000	1.032857	1.525000	2.448000
Change (%)	-27.54%	-	+49.69%	+121.01%	+254.78%
Change	-0.190000	-	+0.342857	+0.835000	+1.758000
Level	Major	-	Intermediate	Intermediate	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.646667	0.653333	0.666667	0.673333	0.686667	0.693333	0.706667
Camarilla	0.674500	0.676333	0.678167	0.680000	0.681833	0.683667	0.685500
Woodie	0.650000	0.655000	0.670000	0.675000	0.690000	0.695000	0.710000
Fibonacci	0.653333	0.660973	0.665693	0.673333	0.680973	0.685693	0.693333

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.550000	0.580000	0.630000	0.660000	0.710000	0.740000	0.790000
Camarilla	0.658000	0.665333	0.672667	0.680000	0.687333	0.694667	0.702000
Woodie	0.560000	0.585000	0.640000	0.665000	0.720000	0.745000	0.800000
Fibonacci	0.580000	0.610560	0.629440	0.660000	0.690560	0.709440	0.740000

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.380000	0.440000	0.540000	0.600000	0.700000	0.760000	0.860000
Camarilla	0.596000	0.610667	0.625333	0.640000	0.654667	0.669333	0.684000
Woodie	0.400000	0.450000	0.560000	0.610000	0.720000	0.770000	0.880000
Fibonacci	0.440000	0.501120	0.538880	0.600000	0.661120	0.698880	0.760000

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	49.63
MACD (12,26,9):	-0.0594
Directional Movement:	3.948658
AROON (14):	-42.857143
DEMA (21):	0.559714
Parabolic SAR (0,02-0,02-0,2):	0.490000
Elder Ray (13):	0.061314
Super Trend (3,10):	0.793126
Zig ZAG (10):	0.690000
VORTEX (21):	1.0663
Stochastique (14,3,5):	79.05
TEMA (21):	0.570270
Williams %R (14):	-4.76
Chande Momentum Oscillator (20):	0.110000
Repulse (5,40,3):	14.4452
ROCnROLL:	-1
TRIX (15,9):	-1.6922
Courbe Coppock:	17.54

MA7:	0.665714
MA20:	0.615500
MA50:	0.564800
MA100:	0.581300
MAexp7:	0.628006
MAexp20:	0.650248
MAexp50:	0.775851
MAexp100:	0.842997
Price / MA7:	+3.65%
Price / MA20:	+12.10%
Price / MA50:	+22.17%
Price / MA100:	+18.70%
Price / MAexp7:	+9.87%
Price / MAexp20:	+6.11%
Price / MAexp50:	-11.07%
Price / MAexp100:	-18.15%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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