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Some Believe MATIC Could Test $1 In the Coming Days or Weeks

Polygon (MATIC) price reversed course to the upside. Similar circumstances before led MATIC to reach a record high of $3. Michael van de Poppe would not be surprised if MATIC is...
Some Believe MATIC Could Test $1 In the Coming Days or Weeks © Reuters. Some Believe MATIC Could Test $1 In the Coming Days or Weeks

  • Polygon (MATIC) price reversed course to the upside.
  • Similar circumstances before led MATIC to reach a record high of $3.
  • Michael van de Poppe would not be surprised if MATIC is going to test $1 in the coming days or weeks.

2022 has been a bad year for cryptos, but Polygon’s (MATIC) price reversed course to the upside after testing $0.794 as its interim support on Tuesday, May 10. Thus, the price of MATIC rose by 25% to put the price at $0.99. This comes the day after the price dropped by 17% to reach its lowest level since July 2021.

A previous retest of the $0.787-level in July 2021 and the 0.786 Fib line (near $0,61) of the Fibonacci retracement graph drawn from the $0.002-swing low to 2.86-swing high- lead to MATIC raising to its record high of $3 by the end of 2021.

This could lead people to believe that something similar, a sharp upside retracement, might happen to the price of MATIC in the upcoming days or weeks if history were to repeat itself.

Michael van de Poppe, a full-time day/swing trader in cryptocurrencies, agrees with this and yesterday Tweeted that he “would not be surprised if MATIC is going to test $1 in the coming days/weeks if BTC reclaims $30K.

There might be light at the end of the tunnel for MATIC as Polygon CEO, Ryan Watt, recently announced that they are partnering with Meta to create a nonfungible token (NFT) platform for Facebook (NASDAQ:FB) and Instagram. The hype around this project could surely help MATIC form a stronger price floor.

On the other hand, MATIC risks a bearish continuation if it does not reclaim its 50-week exponential moving average near $1.37 as support.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Continue reading on CoinQuora

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07-06-2023 05:06:16 (UTC+7)

EUR/USD

1.0694

+0.0001 (+0.01%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (4)

EUR/USD

1.0694

+0.0001 (+0.01%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (4)

GBP/USD

1.2425

+0.0001 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

USD/JPY

139.63

-0.01 (-0.01%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (7)

AUD/USD

0.6672

+0.0001 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.3403

0.0000 (0.00%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (1)

EUR/JPY

149.32

0.01 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

0.9705

0.0000 (0.00%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (0)

Sell (5)

Gold Futures

1,979.30

-0.45 (-0.02%)

Summary

↑ Sell

Moving Avg:

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Sell (11)

Indicators:

Buy (1)

Sell (6)

Silver Futures

23.672

-0.005 (-0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

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Copper Futures

3.7665

0.0000 (0.00%)

Summary

↑ Buy

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Sell (4)

Indicators:

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Crude Oil WTI Futures

71.55

+0.11 (+0.15%)

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↑ Buy

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Buy (10)

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Indicators:

Buy (10)

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Brent Oil Futures

76.13

+0.16 (+0.21%)

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Sell

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Natural Gas Futures

2.264

+0.005 (+0.22%)

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US Coffee C Futures

184.08

+0.98 (+0.54%)

Summary

↑ Buy

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Euro Stoxx 50

4,295.22

+1.98 (+0.05%)

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Sell

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Indicators:

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S&P 500

4,283.85

+10.06 (+0.24%)

Summary

Buy

Moving Avg:

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Sell (5)

Indicators:

Buy (3)

Sell (2)

DAX

15,992.44

+28.55 (+0.18%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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FTSE 100

7,628.10

+28.11 (+0.37%)

Summary

↑ Sell

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Indicators:

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Hang Seng

19,099.28

-9.22 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

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Sell (0)

US Small Cap 2000

1,856.34

+49.63 (+2.75%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Indicators:

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Sell (0)

IBEX 35

9,310.80

+21.70 (+0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

BASF SE NA O.N.

46.760

+0.225 (+0.48%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

Bayer AG NA

52.28

+0.16 (+0.31%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Indicators:

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Allianz SE VNA O.N.

210.50

+0.55 (+0.26%)

Summary

Sell

Moving Avg:

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Sell (8)

Indicators:

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Adidas AG

159.68

+1.38 (+0.87%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (7)

Deutsche Lufthansa AG

9.141

+0.030 (+0.33%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Indicators:

Buy (4)

Sell (1)

Siemens AG Class N

158.36

-0.16 (-0.10%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

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Sell (5)

Deutsche Bank AG

9.784

+0.088 (+0.91%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

 EUR/USD1.0694Sell
 GBP/USD1.2425↑ Buy
 USD/JPY139.63↑ Sell
 AUD/USD0.6672↑ Buy
 USD/CAD1.3403Buy
 EUR/JPY149.32↑ Sell
 EUR/CHF0.9705Neutral
 Gold1,979.30↑ Sell
 Silver23.672Neutral
 Copper3.7665↑ Buy
 Crude Oil WTI71.55↑ Buy
 Brent Oil76.13Sell
 Natural Gas2.264↑ Buy
 US Coffee C184.08↑ Buy
 Euro Stoxx 504,295.22Sell
 S&P 5004,283.85Buy
 DAX15,992.44↑ Sell
 FTSE 1007,628.10↑ Sell
 Hang Seng19,099.28↑ Buy
 Small Cap 20001,856.34↑ Buy
 IBEX 359,310.80↑ Buy
 BASF46.760↑ Sell
 Bayer52.28↑ Buy
 Allianz210.50Sell
 Adidas159.68Neutral
 Lufthansa9.141↑ Buy
 Siemens AG158.36Neutral
 Deutsche Bank AG9.784Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,640/ 6,680
(0/ 0) # 1,084
SJC HCM6,640/ 6,700
(0/ 0) # 1,103
SJC Hanoi6,640/ 6,702
(0/ 0) # 1,105
SJC Danang6,640/ 6,702
(0/ 0) # 1,105
SJC Nhatrang6,640/ 6,702
(0/ 0) # 1,105
SJC Cantho6,640/ 6,702
(0/ 0) # 1,105
Cập nhật 07-06-2023 05:06:18
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ↀ Giá vàng thế giới
$1,963.21+1.570.08%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V22.79023.240
RON 95-III22.01022.450
E5 RON 92-II20.87021.280
DO 0.05S17.94018.290
DO 0,001S-V18.80019.170
Dầu hỏa 2-K17.77018.120
ↂ Giá dầu thô thế giới
WTI$71.63-0.4-0.01%
Brent$75.92-0.52-0.01%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.290,0023.660,00
EUR24.512,7325.885,30
GBP28.465,8729.679,67
JPY163,63173,22
KRW15,6419,05
Cập nhật lúc 18:50:59 06/06/2023
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