POLYGON - MATIC/ETH - Weekly - Technical analysis published on 11/05/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Strongly bearish
Technical indicators
67%
6%
28%
My opinion
Bearish under 0.000434 ETH
My targets
0.000311 ETH (-15.03%)
0.000234 ETH (-36.07%)
My analysis
The basic trend is very bearish on POLYGON - MATIC/ETH but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on POLYGON - MATIC/ETH. As long as you stay below the resistance 0.000434 ETH, sellers' retain the upper hand. A break in the support at 0.000311 ETH would be a signal that the basic trend will reverse. Sellers would then use the next support located at 0.000234 ETH as an objective. Crossing it would then enable sellers to target 0.000146 ETH. If the price were to depress the resistance 0.000434 ETH in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a reversal of the trend.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
2.3
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This analysis was given by SprangsOpportunities. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The POLYGON - MATIC/ETH rating is 0.000366 ETH. Over 5 days, this instrument gained +1.95% and has been traded over the last 5 days between 0.000345 ETH and 0.000374 ETH. This implies that the 5 day price is +6.09% from its lowest point and -2.14% from its highest point.0.000345
0.000374
0.000366
Here is a more detailed summary of the historical variations registered by POLYGON - MATIC/ETH:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this POLYGON - MATIC/ETH chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: this global trend is showing signs of running out of steam given the neutral signals of short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Weekly
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Weekly
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Weekly
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 support of channel
Type : Bullish
Timeframe : Weekly
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.000146 | 0.000234 | 0.000311 | 0.000366 | 0.000501 | 0.000608 | 0.000728 |
| Change (%) | -60.11% | -36.07% | -15.03% | - | +36.89% | +66.12% | +98.91% |
| Change | -0.000220 | -0.000132 | -0.000055 | - | +0.000135 | +0.000242 | +0.000362 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Intermediate |
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 | 0.000357 | 0.000360 | 0.000362 | 0.000365 | 0.000367 | 0.000370 | 0.000372 |
| Camarilla | 0.000364 | 0.000364 | 0.000365 | 0.000365 | 0.000366 | 0.000366 | 0.000366 |
| Woodie | 0.000358 | 0.000360 | 0.000363 | 0.000365 | 0.000368 | 0.000370 | 0.000373 |
| Fibonacci | 0.000360 | 0.000362 | 0.000363 | 0.000365 | 0.000367 | 0.000368 | 0.000370 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.000320 | 0.000332 | 0.000349 | 0.000361 | 0.000378 | 0.000390 | 0.000407 |
| Camarilla | 0.000357 | 0.000360 | 0.000362 | 0.000365 | 0.000368 | 0.000370 | 0.000373 |
| Woodie | 0.000322 | 0.000333 | 0.000351 | 0.000362 | 0.000380 | 0.000391 | 0.000409 |
| Fibonacci | 0.000332 | 0.000343 | 0.000350 | 0.000361 | 0.000372 | 0.000379 | 0.000390 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.000263 | 0.000291 | 0.000320 | 0.000348 | 0.000377 | 0.000405 | 0.000434 |
| Camarilla | 0.000334 | 0.000340 | 0.000345 | 0.000350 | 0.000355 | 0.000361 | 0.000366 |
| Woodie | 0.000265 | 0.000291 | 0.000322 | 0.000348 | 0.000379 | 0.000405 | 0.000436 |
| Fibonacci | 0.000291 | 0.000312 | 0.000326 | 0.000348 | 0.000369 | 0.000383 | 0.000405 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 43.11 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 0.206560 | |
| AROON (14): | -57.142857 | |
| DEMA (21): | 0.000317 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.000321 | |
| Elder Ray (13): | 0.000008 | |
| Super Trend (3,10): | 0.000432 | |
| Zig ZAG (10): | 0.000366 | |
| VORTEX (21): | 1.0419 | |
| Stochastique (14,3,5): | 70.53 | |
| TEMA (21): | 0.000327 | |
| Williams %R (14): | -17.91 | |
| Chande Momentum Oscillator (20): | 0.000022 | |
| Repulse (5,40,3): | 5.1776 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -1.7159 | |
| Courbe Coppock: | 9.06 |
| MA7: | 0.000362 | |
| MA20: | 0.000352 | |
| MA50: | 0.000338 | |
| MA100: | 0.000342 | |
| MAexp7: | 0.000355 | |
| MAexp20: | 0.000373 | |
| MAexp50: | 0.000444 | |
| MAexp100: | 0.000456 | |
| Price / MA7: | +1.10% | |
| Price / MA20: | +3.98% | |
| Price / MA50: | +8.28% | |
| Price / MA100: | +7.02% | |
| Price / MAexp7: | +3.10% | |
| Price / MAexp20: | -1.88% | |
| Price / MAexp50: | -17.57% | |
| Price / MAexp100: | -19.74% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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