Polygon Price Forecast: MATIC Fails to Breach Bearish Trendline – Is it the Time to Buy or Sell?

Polygon (MATIC) has struggled these days, even as the broader crypto market recovers. MATIC has been bearish since dipping below $0.57 in late August, hovering around the $0.372 threshold.

It has attempted to break through a critical bearish trendline in the one-day chart, which signals continued downward pressure on its price.

Over the past day, the price of MATIC is down slightly by 1.02%, trading at $0.373. However, despite this bearish trend,some technical analysts believe the coin will rebound soon, projecting bullish targets.

So, what's next for MATIC? Is now the best time to buy? This analysis explores the possible trajectory of Polygon in the coming days.

Analyst Predicts Potential MATIC Rally, Compares Current Chart to Previous Surge

A seasoned analyst known as Moral Disciple shared a bullish outlook for Polygon's MATIC token. Disciple believes MATIC could repeat its rally from last July, where the price jumped from $0.50 to $1.03, a 106% increase.

The analyst pointed out that MATIC has formed a similar chart pattern, suggesting a possible rebound is on the way.Polygon looks extremely dead, but will history repeat itself?" the analyst asked, cautioning that reality may differ.

Many users commented, highlighting that MATIC (now referred to as POL) has underperformed compared to other coins. One user suggested that if MATIC had no value, it would have dropped even further by now. They added that a pump could be likely if MATIC holds its current level.

Analyst Highlight Potential Support for MATIC

An analyst on TradingView pointed out that MATIC is currently testing a triple bottom, which could form a strong support level.

According to the analyst, the price also tests the curved white line on the chart. They believe MATIC may retest this curved line again before moving upward.

The analyst expressed a bullish outlook for MATIC, especially when looking at longer timeframes, such as the weekly chart. They noted that the 4-hour chart also shows signs of a possible upward movement, which strengthens their optimistic view.

These analysts suggest that MATIC will likely rebound despite the bearish sentiment.

Polygon MATIC Remains Below Key Indicators - Is There Hope for a Rebound?

MATIC has been trading below key indicators, signaling a bearish sentiment. The coin is currently positioned below a long-standing bearish trendline, which indicates it's struggling to break out of its downward trajectory.

Additionally, MATIC is below the middle Bollinger Band line. The Moving Average Convergence/Divergence is below the signal line, indicating that sellers are in control.

This market setup shows that MATIC has limited upside potential in the short term.

MATIC is below the 200-day and 50-day Simple Moving Average (SMA) lines, indicating short and long-term bearish sentiment.

Additionally, the SuperTrend indicator flashes a sell" signal, suggesting that the bearish trend could continue. Combined with the other indicators, MATIC is firmly in bearish territory.

For MATIC to see a meaningful rebound, it would need to break above the bearish trendline, which could signal a shift in momentum. Until that happens, the bearish indicators suggest that caution should be exercised, and the coin could see further downside.

Based on the price analysis and expert views, now might not be the best time for short-term traders to buy more MATIC tokens. However, long-term investors may consider gradually accumulating during the dip.

Pepe Unchained: A New Alternative Coin to MATIC

While MATIC struggles to break out, spreading risks with low-cap tokens with higher short-term potential might be smart. Some investors consider presale cryptocurrencies as attractive options for diversifying portfolios.

Pepe Unchained is one of the presale coins making waves in the crypto market. Pepe Unchained ($PEPU) is gaining attention as a potential alternative to Ethereum. Its presale has raised over $19 million and continues to grow.

Pepe Unchained's Advanced Layer-2 Technology

With its faster transactions and substantial staking rewards, Pepe Unchained positions itself as a viable contender for Polygon and other cryptos.

Unlike most meme coins, PEPU introduces a layer-2 blockchain on Ethereum to solve scalability issues such as transaction cost and speed. Given this, some pundits likeJacob Bury believe the value could increase significantly when it launches.

Pepe Unchained aims to fix these problems by offering faster and cheaper transactions through its own Pepe Chain." This could make it an attractive option for investors and traders alike.

The project's technology allows for smoother trading of meme coins like $PEPU, making it a potential rival to Ethereum.

Strong Staking Rewards and Token Distribution

Pepe Unchained also offers attractive staking rewards, with an annual percentage yield (APY) of 111%. Its token distribution appears well spread out: 30% for staking rewards and 20% for presale and marketing.

With almost $20 million already raised and strong community support, $PEPU could be on the path to delivering substantial returns for early investors.

PEPU currently trades at $0.0103, lower than most crypto assets. However, the price will increase soon, so now might be the best time to purchase them.

Will Pepe Unchained become the next Pepe coin, or will it surpass its peers? Only time will tell. Visit the official website to learn more and invest. But remember to always do your research before committing funds.

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