{"id":179182,"date":"2023-10-23T08:15:02","date_gmt":"2023-10-23T02:45:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179182"},"modified":"2023-10-23T08:15:02","modified_gmt":"2023-10-23T02:45:02","slug":"matic-is-a-buying-opportunity-presenting-itself-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/matic-is-a-buying-opportunity-presenting-itself-crypto-news\/","title":{"rendered":"MATIC: Is a buying opportunity presenting itself? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">MATIC exhibited a short-term pullback from the $0.58 hurdle.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">There were more buy-limit orders below $0.54, which could affect the pullback.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/MATIC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Polygon [MATIC]<\/span><\/a><span style=\"font-weight: 400\"> hit a familiar roadblock at $0.58 and tipped sellers to seek market re-entry. At press time, MATIC\u2019s short-term retracement was headed to a crucial and previous range-high at $0.54.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Read <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Polygon\u2019s [MATIC] Price Prediction<\/span><\/a><span style=\"font-weight: 400\"> 2023-24<\/span><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">A recent bearish <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/polygon-sees-a-bearish-breakout-will-matic-hit-a-new-year-low\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">inclination<\/span><\/a><span style=\"font-weight: 400\"> towards MATIC and the potential formation of new lows was invalidated after <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin\u2019s [BTC]<\/span><\/a><span style=\"font-weight: 400\"> sharp recovery.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">BTC\u2019s move above $30k saw MATIC rally +15%, jumping from the range-low of $0.50 to a sticky overhead hurdle of $0.58. Will the pullback at press time provide buyers a chance for market re-entry?\u00a0<\/span><\/p>\n<h4>Can the pullback benefit bulls?<\/h4>\n<div id=\"attachment_352843\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATICUSDT_2023-10-22_14-03-41.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-352843\" class=\"size-full wp-image-352843\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATICUSDT_2023-10-22_14-03-41.png\" alt=\"MATIC\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-352843\" class=\"wp-caption-text\">Source: MATIC\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Since September, the sticky roadblock and H12 bearish order block of $0.571 \u2013 $0.588 (red) prevent MATIC from extra value appreciation. A fake move in early October near $0.60 was quickly reverted, dropping the altcoin to the previous range-high ($0.545) and range-low ($0.50).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The pullback could ease at the confluence of a breaker block and range high at $0.545. If so, a likely rebound could lead to a potential 4.8% gain if MATIC retests the overhead hurdle at $0.58. Such a move could make the range-high a great buying opportunity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A crack below the range-high will invalidate the bullish bias and force bulls to attempt another re-entry at the range-low ($0.50).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the RSI was in the overbought zone but exhibited a retreat. It meant that buying pressure eased in the past few hours before press time. Similarly, demand dropped slightly, as shown by the downtick on the OBV.\u00a0<\/span><\/p>\n<h4>Massive buying interest existed below $0.56<\/h4>\n<div id=\"attachment_352845\" style=\"width: 1919px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-352845\" class=\"size-full wp-image-352845\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"MATIC\" width=\"1909\" height=\"760\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart.png 1909w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart-300x119.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart-1024x408.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart-768x306.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart-1536x612.png 1536w\" data-lazy-sizes=\"(max-width: 1909px) 100vw, 1909px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-352845\" class=\"size-full wp-image-352845\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MATIC-Mobchart.png\" alt=\"MATIC\" width=\"1909\" height=\"760\" \/><\/a><\/p>\n<p id=\"caption-attachment-352845\" class=\"wp-caption-text\">Source: MobChart<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-sol-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 MATICs worth today<\/span><\/a><span style=\"font-weight: 400\">?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">According to the order book analysis platform Mobchart, there were considerable buy limit orders at $0.55, $0.54, $0.52, and $0.50. The increased buying interest could ease further pullback.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the sell side, $0.60 had massive sell limit orders. It could make a move beyond $0.60 challenging in the short term. It could act as an ideal take-profit in case of a rebound from the previous range-high. But a drop below the range-high ($0.54) will invalidate the long set-up.\u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. MATIC exhibited a short-term pullback from the $0.58 hurdle.\u00a0 There were more buy-limit orders below $0.54, which could affect the pullback.\u00a0 Polygon [MATIC] hit a familiar roadblock at $0.58 and tipped sellers to seek [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":179183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-179182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=179182"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179182\/revisions"}],"predecessor-version":[{"id":179189,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179182\/revisions\/179189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179183"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}