POLYGON - MATIC/USD

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Type:	Cryptocurrencies
Ticker:	MATICUSD
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POLYGON - MATIC/USD - Weekly - Technical analysis published on 12/12/2023 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Neutral

Technical indicators

89%

My opinion

Bullish above 0.694300 USD

My targets

1.032857 USD (+21.51%)

1.525000 USD (+79.41%)

My analysis

The current short-term bullish acceleration on POLYGON - MATIC/USD should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 0.694300 USD. Short-term buyers will use the resistance located at 1.032857 USD as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 1.525000 USD. Crossing this resistance would then open the door for buyers to target 2.448000 USD. Caution, if there is a return to under 0.694300 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

4.1

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 rating is 0.850000 USD. The price registered an increase of +4.94% over 5 days with the lowest point at 0.810000 USD and the highest point at 0.910000 USD. The deviation from the price is +4.94% for the low point and -6.59% for the high point.

0.810000

0.910000

0.850000

So that you have an overall view of the price change, here is a table showing the variations over several periods:

Abnormal volumes on POLYGON - MATIC/USD were detected by the Central Volumes scanner:

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 a neutral overall trend. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Bullish trend reversal : adaptative moving average 100

Type : Bullish

Timeframe : Weekly

In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Weekly

CCI indicator: bearish divergence

Type : Bearish

Timeframe : Weekly

RSI indicator: bearish divergence

Type : Bearish

Timeframe : Weekly

The Central Indicators scanner found this result concerning these indicators:

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

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

ProTrendLines

Price

	S2	S1	Price	R1	R2	R3
ProTrendLines	0.500000	0.694300	0.850000	1.032857	1.525000	2.448000
Change (%)	-41.18%	-18.32%	-	+21.51%	+79.41%	+188.00%
Change	-0.350000	-0.155700	-	+0.182857	+0.675000	+1.598000
Level	Intermediate	Intermediate	-	Minor	Intermediate	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.656667	0.733333	0.786667	0.863333	0.916667	0.993333	1.046667
Camarilla	0.804250	0.816167	0.828083	0.840000	0.851917	0.863833	0.875750
Woodie	0.645000	0.727500	0.775000	0.857500	0.905000	0.987500	1.035000
Fibonacci	0.733333	0.782993	0.813673	0.863333	0.912993	0.943673	0.993333

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.620000	0.700000	0.790000	0.870000	0.960000	1.040000	1.130000
Camarilla	0.833250	0.848833	0.864417	0.880000	0.895583	0.911167	0.926750
Woodie	0.625000	0.702500	0.795000	0.872500	0.965000	1.042500	1.135000
Fibonacci	0.700000	0.764940	0.805060	0.870000	0.934940	0.975060	1.040000

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.233333	0.426667	0.593333	0.786667	0.953333	1.146667	1.313333
Camarilla	0.661000	0.694000	0.727000	0.760000	0.793000	0.826000	0.859000
Woodie	0.220000	0.420000	0.580000	0.780000	0.940000	1.140000	1.300000
Fibonacci	0.426667	0.564187	0.649147	0.786667	0.924187	1.009147	1.146667

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):	56.40
MACD (12,26,9):	0.0161
Directional Movement:	17.458046
AROON (14):	64.285714
DEMA (21):	0.729979
Parabolic SAR (0,02-0,02-0,2):	0.571294
Elder Ray (13):	0.125311
Super Trend (3,10):	0.545613
Zig ZAG (10):	0.840000
VORTEX (21):	1.0388
Stochastique (14,3,5):	72.79
TEMA (21):	0.804162
Williams %R (14):	-26.53
Chande Momentum Oscillator (20):	0.340000
Repulse (5,40,3):	2.5475
ROCnROLL:	1
TRIX (15,9):	-0.6639
Courbe Coppock:	82.75

MA7:	0.865714
MA20:	0.809000
MA50:	0.772600
MA100:	0.654000
MAexp7:	0.800731
MAexp20:	0.734286
MAexp50:	0.792825
MAexp100:	0.845726
Price / MA7:	-1.82%
Price / MA20:	+5.07%
Price / MA50:	+10.02%
Price / MA100:	+29.97%
Price / MAexp7:	+6.15%
Price / MAexp20:	+15.76%
Price / MAexp50:	+7.21%
Price / MAexp100:	+0.51%

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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