简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:An uptick in bullish sentiment could see Polygon reach the upper boundary of the governing technical pattern at $2.32.
MATIC price could be preparing for a major rally if buying pressure increases.
A key technical indicator suggests that MATIC has recently formed a local bottom.
MATIC price has recently formed a local bottom according to a key technical indicator, suggesting that Polygon is ready for a bullish reversal. The token could tag the upper boundary of the governing technical pattern at $2.32 next if it slices above crucial resistance levels.
MATIC price forms local bottom
MATIC price has formed an ascending parallel channel on the 12-hour chart, projecting a bullish outlook. Polygon could target the upper boundary of the prevailing chart pattern at $2.32 next, coinciding with the 127.2% Fibonacci extension level.
Polygon has tagged the lower boundary of the governing technical pattern at $1.59 as support on February 14. At the same time, while MATIC price reached the swing low, the Momentum Reversal Indicator (MRI) has flashed a bottom signal, suggesting the token is preparing for a reversal.
MATIC price will face immediate resistance at the 21 twelve-hour Simple Moving Average (SMA) at $1.79, intersecting with the 61.8% Fibonacci retracement level. Additional hurdles may emerge at the middle boundary of the governing technical pattern at $1.93, coinciding with the 78.6% Fibonacci retracement level.
Polygon will face additional headwinds at $2.00, where the 100 twelve-hour SMA and the 200 twelve-hour SMA intersect, then at the resistance line given by the MRI at $2.10. Only if MATIC price manages to overcome the aforementioned challenges would see the token reach the optimistic target at $2.32.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Founded in 2012, Libertex is a Cyprus-based online broker providing both investment and trading services. They offer access to over 350 instruments, including CFDs and real stocks. Libertex has become a popular choice among retail investors, largely due to its competitive trading costs, robust trading platform, a 100% welcome bonus for new clients (subject to certain deposit requirements and trading activity), and the availability of fractional shares. However, notably, Libertex does not currently offer copy trading functionality and its educational resources are somewhat limited.
Established in 2012, JustMarkets (Formerly JustForex) is an online forex broker based in Cyprus and serves clients in over 160 countries. Featuring a low entry barrier, a 50% deposit bonus, and robust trading platforms -MT4 and MT5, JustMarkets has gained great popularity among retail investors in recent years. JustMarkets allows traders to trade over 260 CFD-based instruments, which is not an extensive range, yet on leverage up to 3000:1 to increase trading flexibility. To enhance the trading experience, both MT4 and MT5 are provided, along with JustMarkets Trading App, MetaTrader Mobile App, and MetaTrader WebTerminal. JustMarkets offers a 50% deposit bonus to boost traders' confidence. Opening an account is a fully online process, typically completed within one day.
CM Trading is a South Africa-based online broker operating for 10 years, providing trading on Forex, Commodities, Indices, Stocks, and some Cryptos. Among many forex broker options in South Africa, CM Trading struggles to be the popular one due to its high costs for live accounts and wide spreads. Instead, it is considered an expensive broking. To open a live account, traders need to fund at least $299, less friendly to beginners. However, CM Trading compensates for this by offering large amounts of bonuses up to $150,000. Notably, CM Trading does not provide any popular copy trading solutions.
FBS, more of an A-Book broking company, offers trading services through its three entities in Belize, Australia, and Europe, respectively. With the FBS platform, traders can get access to over 550 CFD-based instruments, including Forex, Indices, Energy, Stocks and Cryptocurrency through the FBS App and MetaTrader suite—MetaTrader 4 and MetaTrader 5. FBS's shining features, an extremely low entry barrier from $5 and its generous leverage up to 3000:1, attract active traders the most. competitor However, FBS does not provide tiered account options, only one live account offered for all investors, but opening an account here is quick and easy. FBS's copy trading solution—FBS Copytrade, while once available, isn't as user-friendly or prominently featured as those offered by competitors, closed in 2022, restricting beginners' access to simpler trading approaches.