POLYGON - MATIC/USD

- USD (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	MATICUSD
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POLYGON - MATIC/USD - Daily - Technical analysis published on 12/07/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 2.13 USD

My targets

2.45 USD (+6.52%)

My analysis

The bullish trend is currently very strong on POLYGON - MATIC/USD. As long as the price remains above the support at 2.13 USD, you could try to benefit from the boom. The first bullish objective is located at 2.45 USD. The bullish momentum would be boosted by a break in this resistance. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

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

8.8

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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

POLYGON - MATIC/USD rating 2.30 USD. The price registered an increase of +0.88% on the session and was between 2.24 USD and 2.44 USD. This implies that the price is at +2.68% from its lowest and at -5.74% from its highest.

2.24

2.44

2.30

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

The Central Records scanner, which identifies the highest / lowest, has detected an element:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of POLYGON - MATIC/USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 15 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found no further results concerning independent technical indicators.

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near resistance of channel

Type : Bearish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	1.74	1.93	2.13	2.30	2.45
Change (%)	-24.35%	-16.09%	-7.39%	-	+6.52%
Change	-0.56	-0.37	-0.17	-	+0.15
Level	Major	Intermediate	Intermediate	-	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.28	1.49	1.89	2.10	2.50	2.71	3.11
Camarilla	2.11	2.17	2.22	2.28	2.34	2.39	2.45
Woodie	1.37	1.54	1.98	2.15	2.59	2.76	3.20
Fibonacci	1.49	1.73	1.87	2.10	2.34	2.48	2.71

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.57	1.02	1.50	1.95	2.43	2.88	3.36
Camarilla	1.72	1.81	1.90	1.98	2.07	2.15	2.24
Woodie	0.59	1.03	1.52	1.96	2.45	2.89	3.38
Fibonacci	1.02	1.38	1.60	1.95	2.31	2.53	2.88

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.74	1.10	1.44	1.80	2.14	2.50	2.84
Camarilla	1.60	1.66	1.73	1.79	1.85	1.92	1.98
Woodie	0.74	1.10	1.44	1.80	2.14	2.50	2.84
Fibonacci	1.10	1.36	1.53	1.80	2.06	2.23	2.50

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):	64.02
MACD (12,26,9):	0.1400
Directional Movement:	-2.34
AROON (14):	21.43
DEMA (21):	2.09
Parabolic SAR (0,02-0,02-0,2):	1.47
Elder Ray (13):	0.33
Super Trend (3,10):	1.60
Zig ZAG (10):	2.30
VORTEX (21):	1.1400
Stochastique (14,3,5):	78.00
TEMA (21):	2.18
Williams %R (14):	-14.43
Chande Momentum Oscillator (20):	0.37
Repulse (5,40,3):	16.6600
ROCnROLL:	1
TRIX (15,9):	0.5900
Courbe Coppock:	56.43

MA7:	2.15
MA20:	1.84
MA50:	1.80
MA100:	1.56
MAexp7:	2.12
MAexp20:	1.94
MAexp50:	1.78
MAexp100:	1.62
Price / MA7:	+6.98%
Price / MA20:	+25.00%
Price / MA50:	+27.78%
Price / MA100:	+47.44%
Price / MAexp7:	+8.49%
Price / MAexp20:	+18.56%
Price / MAexp50:	+29.21%
Price / MAexp100:	+41.98%

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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