{"id":30661,"date":"2022-10-01T06:40:33","date_gmt":"2022-10-01T06:40:33","guid":{"rendered":"http:\/\/egrowonline.com\/?p=30661"},"modified":"2022-10-01T06:40:33","modified_gmt":"2022-10-01T06:40:33","slug":"how-to-trade-this-bullish-pattern-emerged-in-polygon-coin-chart","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=30661","title":{"rendered":"How To Trade This Bullish Pattern Emerged In Polygon Coin Chart"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-123143\">\n<div class=\"marketThumbs\">\n<img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"matic\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/07\/14143840\/polygon-MATIC.jpg\" \/><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/07\/14143840\/polygon-MATIC.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"matic\" \/><\/div>\n<p class=\"MarketsUp f-14 d-block\">Published 12 hours ago <\/p>\n<div class=\"Atcs\">\n<p><span data-preserver-spaces=\"true\">Following a direction rally from June to August, the <a target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/heres-why-matic-buyers-hold-trend-control-despite-todays-sell-off\/\" rel=\"noopener\">Polygon Coin price<\/a> reverted from the $1-$1.02 barrier. Since then, the altcoin has been in a downward spiral forming new lower highs and lower lows. Connecting this swing, the daily technical chart showcased the formation of a flag pattern.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Key points\u00a0<\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">The MATIC\/USDT will extend its downfall until the prices remain under the downsloping trendline.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The multiple barriers at $0.75 validate it as a strong supply zone.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The intraday trading volume in the MATIC is $748.3 Million, indicating a 24.5% gain.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" alt=\"Polygon Coin Chart\" width=\"1942\" height=\"1106\" src=\"https:\/\/s3.tradingview.com\/snapshots\/8\/8QNYKF6K.png\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/8\/8QNYKF6K.png\" alt=\"Polygon Coin Chart\" width=\"1942\" height=\"1106\" \/>Source- \u2013<\/span><span data-preserver-spaces=\"true\">Tradingview<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A flag pattern is a bullish continuation pattern that offers a long entry opportunity for a minor correction. Under the patterns influence, the Polycoin coin price retracement 50% of the previous rally and plunged to a low of $0.69.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On September 22nd, the polygon coin price rebounded from the support trendline and triggered a new bull cycle within this falling wedge. The <a target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/altcoins\/\" rel=\"noopener\">altcoin<\/a> shows 10.5% growth within a fortnight and has repeatedly retested the $0.75 resistance.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The higher price rejection candle at his resistance indicates the sellers vigorously defend this level. However, if the buyers managed to breach this resistance, the coin price would rise 6 to 8% to hit the downsloping trendline.<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">Until the altcoin is below this trendline, the Polygon coin price will remain trapped in a correction phase and could witness more losses.<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">However, per the technical setup, the bullish pattern should eventually encourage buyers to break the resistance trendline. Doing so will replenish the bullish momentum and drive the prices to $0.875, followed by $1.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Technical Indicators<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\"><strong>Bollinger band indicator:<\/strong> the coin price trading below the neutral line indicates the sellers are currently controlling the price. Moreover, this midline at $0.75 is an added barrier against buyers.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><strong>MACD indicator:<\/strong> a bullish crossover between the <a target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/macd-moving-average-convergence-divergnece\/\" rel=\"noopener\">fast and slow line<\/a> gives an additional confirmation for a $0.75 breakout.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Polygon Coin Price Intraday Levels<\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">Spot rate: $0.78<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Trend: Bullish <\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Volatility: Medium<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Resistance levels- $0.75 and $0.875<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Support levels- $0.726 and $0.7<\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA123143\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nFrom the past 5 years I working in Journalism. I follow the Blockchain &amp; Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&amp;d=mm&amp;r=g\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" \/> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD123143\">\n<p> The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p> <a target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\" rel=\"noopener\">Close Story<\/a>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/coingape.com\/markets\/how-to-trade-this-bullish-pattern-emerged-in-polygon-coin-chart\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Published 12 hours ago Following a direction rally from June to August, the Polygon Coin price reverted from the $1-$1.02 barrier. Since then, the altcoin has been in a downward spiral forming new lower highs and lower lows. Connecting this swing, the daily technical chart showcased the formation of a flag pattern. Key points\u00a0 The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[359,2580,268,11352,178,1219,626],"class_list":["post-30661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-bullish","tag-chart","tag-coin","tag-emerged","tag-pattern","tag-polygon","tag-trade"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/10\/polygon-MATIC.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30661"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30661\/revisions"}],"predecessor-version":[{"id":30663,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30661\/revisions\/30663"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/30662"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30661"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}