Close Menu
  • Home
  • Crypto News
  • Tech News
  • Gadgets
  • NFT’s
  • Luxury Goods
  • Gold News
  • Cat Videos
What's Hot

Cute Dog funny video #pets #dog #cute #animals

May 13, 2025

iOS 18.5 Features: Smarter Parental Controls and More

May 13, 2025

Tether Gold (XAUT) Listed on Maxbit

May 13, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA
Facebook X (Twitter) Instagram
KittyBNK
  • Home
  • Crypto News
  • Tech News
  • Gadgets
  • NFT’s
  • Luxury Goods
  • Gold News
  • Cat Videos
KittyBNK
Home » Supply Rich EMA Puts MATIC Under Stress!
Crypto News

Supply Rich EMA Puts MATIC Under Stress!

November 3, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Supply Rich EMA Puts MATIC Under Stress!
Share
Facebook Twitter LinkedIn Pinterest Email

Following the channel pattern breakout, the MATIC price finds a boost in the trend momentum with a double bottom reversal. Overcoming the dynamic 50-day EMA, the Polygon price trend displayed a 30% hike in the last two weeks. 

With a strong reversal rally, the MATIC price trend aims to reclaim higher levels in 2023. Moreover, the increases with increased breakout chances, the MATIC price prediction hints at crossing $1 in 2023.  

Rising with the overall market recovery, the MATIC price finds a boom in trading volume to support a bullish relief trend. Taking a double bottom reversal from the $0.50 psychological mark, the Polygon price trend buyers surpass the dynamic 50-day EMA. 

Despite some underperformance in 2023, the recovery rally puts Polygon on a positive track to end the year on a bullish note. Considering the uptrend sustains momentum, the reversal rally can surpass the overhead 200-day EMA.

Currently, the MATIC price trend surpasses the $0.60 zone to move sideways due to extensive supply at the 200-day EMA. As of now, the altcoin trades at $0.67 with an intraday growth of 1.53% and lower price rejection, teasing a breakout shortly. 

Technical indicators:

MACD indicator: Due to the recent consolidation, the MACD and signal lines are losing a bullish gap and teasing a negative crossover. Further, the bullish histograms are on a decline, teasing a short pullback trend.

EMA indicator: The 50-day EMA rises to tease a golden crossover. However, the opposing 200-day EMA warns of a pullback. 

Will MATIC Price Sustain Above $0.60?

With the double bottom reversal rally challenging the 200-day EMA, the MATIC price enters a lateral trend. Moreover, a short-term pullback in the entire market puts a dent in the altcoins market recovery rally. 

In case the Polygon price exceeds the 200-day EMA, the uptrend can reach the $0.75 mark. 

On the opposite side, a reversal from $0.65 will drop the MATIC price to $0.55, if the buyers fail to hold dominance at $0.60.


Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Tether Gold (XAUT) Listed on Maxbit

May 13, 2025

Is Ethereum Dead And Gone? 

May 13, 2025

XRP Price Prediction For May 13

May 13, 2025

XRP Briefly Overtakes Tether to Become 3rd Largest Cryptocurrency

May 13, 2025
Add A Comment
Leave A Reply Cancel Reply

What's New Here!

High-growth crypto showdown for 2024

January 12, 2024

Why You Can’t Miss the OMERTA Game Airdrop

September 27, 2024

Ritz-Carlton releases images of its second superyacht and it looks stunning

May 20, 2024

Ultimate Profit Strategy: These 4 Cryptocurrencies Could Grow Exponentially This Year

February 11, 2024

This Could be Why Bitcoin (BTC) Price is Chopping around $42,500

December 29, 2023
Facebook X (Twitter) Instagram Telegram
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • DMCA
© 2025 kittybnk.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.