Polygon (MATIC) Coin Price Prediction as of 20 December 2024

00:04:45
https://www.youtube.com/watch?v=LbFsrUaOFO8

Summary

TLDRThe video discusses the persistent decline in the value of Polygon (formerly known as Matic), which has recently rebranded to "Pole." Despite the name change, the value continues to drop, currently resting at 48 cents. The discussion highlights past price predictions and analyses current support levels, emphasizing that the 52 cent mark is crucial. If the price remains below 52 cents, further decline is expected towards 42 cents or even 36 cents, mirroring bearish market conditions. It is advised that buying at this stage might not be wise, as it could be akin to "catching a falling knife." Instead, confirmations of an uptrend, such as breaking and holding above 52 cents, should guide investment decisions. The presenter stresses patience and caution, suggesting waiting till conditions confirm a potential rise towards $1.

Takeaways

  • 📉 Polygon (Matic), now called Pole, is crashing, sitting at 48 cents.
  • 🔎 The significant support level of 52 cents has been breached.
  • 📈 For an upward trend, Polygon must conquer and stay above 52 cents.
  • 📝 Predictions were made about support areas like 42 and 36 cents.
  • ⚠️ Caution advised against buying now, akin to 'catching a falling knife.'
  • 🔧 Technical analysis stressed for market decisions.
  • 📊 Discusses prior dips and the double top formation.
  • 🚫 Warns of further declines if 52 cents isn't maintained.
  • 🚀 Discusses need for confirmation before assuming an uptrend.
  • 📍 Emphasizes importance of patience and strategic entry points.

Timeline

  • 00:00:00 - 00:04:45

    The video discusses the recent crash of Polygon (formerly known as Matic), currently sitting at $0.48. The speaker had previously predicted this downturn, emphasizing key support areas, initially at $0.52, which the price has now fallen below. The discussion covers past analyses, noting a dip below $0.60 previously, forming a double-top pattern leading to the $0.52 support, which has now been breached. For Polygon to potentially start an upward trend, it needs to exceed $0.52; failure to do so suggests continuation of the downtrend, targeting $0.42 first, with further potential drops. The advice given emphasizes caution, suggesting not to buy without confirmation of a trend reversal, as the market remains uncertain and potentially bearish, which could lead to further price declines.

Mind Map

Video Q&A

  • What is the current value of Polygon (Matic)?

    As of the discussion in the video, Polygon (Matic) is sitting at 48 cents.

  • What support levels has Polygon (Matic) breached recently?

    Polygon (Matic) has dipped below the 52 cent support level.

  • What is the significance of the 52 cent mark for Polygon (Matic)?

    The 52 cent mark is critical for Polygon (Matic) as moving above and maintaining this level for two days can indicate the start of an upward trend.

  • What was Polygon (Matic) formerly known as?

    Polygon (Matic) was formerly known as Matic.

  • What are the potential decline targets if Polygon (Matic) continues to fall?

    If Polygon (Matic) continues to fall, targets could be 42 cents and possibly further down to 36 cents.

  • What does the video suggest about buying Polygon (Matic) now?

    The video advises against buying Polygon (Matic) now, as it might be a "suicidal move" to catch a falling asset.

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  • 00:00:01
    so polygon Matic now called pole uh
  • 00:00:05
    changing name didn't help it from
  • 00:00:06
    crashing it's sitting at 48 cents right
  • 00:00:09
    now and we did see it coming I mean I
  • 00:00:12
    shared this with you yesterday as well I
  • 00:00:16
    have been discussing this thing the
  • 00:00:18
    support areas and everything I mentioned
  • 00:00:20
    yesterday if I recall it correctly I
  • 00:00:22
    shared the support area of 52 cents it
  • 00:00:25
    has dipped below it it came back it
  • 00:00:27
    touched and right now is still sitting
  • 00:00:29
    in the DI
  • 00:00:31
    and it has gone almost down to 46 cents
  • 00:00:34
    and if I recall it correctly I think I
  • 00:00:36
    gave the Deliverance of uh 10 cents on
  • 00:00:40
    it so from 52 to 42 cents it has done up
  • 00:00:44
    to 46 cents um not not not not the size
  • 00:00:49
    that I was looking for but um at least
  • 00:00:52
    the journey has started now there's
  • 00:00:55
    there are no surprises whatsoever when
  • 00:00:57
    it comes to polygon maic because I've
  • 00:00:59
    been discussing this thing pretty
  • 00:01:02
    regressively uh if that is the right way
  • 00:01:04
    to say
  • 00:01:06
    it uh and I think I covered it yesterday
  • 00:01:09
    and I've covered it before yesterday as
  • 00:01:11
    well just a second
  • 00:01:13
    poll I've covered it so many
  • 00:01:17
    times just a
  • 00:01:22
    second yeah I covered it on Monday as
  • 00:01:24
    well at that time we talked about as it
  • 00:01:27
    has dipped below 60 cents it has formed
  • 00:01:30
    double top 60 cents was the support area
  • 00:01:34
    and then we talked about next support
  • 00:01:37
    last support at 52 cents and after that
  • 00:01:39
    we talked about the start of show
  • 00:01:42
    so nothing has changed uh we had last
  • 00:01:45
    support at uh 52 cents just because of
  • 00:01:47
    the double tops neckline this was the
  • 00:01:50
    neckline okay just because of that we
  • 00:01:53
    had 52 cents otherwise the support we
  • 00:01:56
    had was at 60 and of course now 52 cents
  • 00:02:00
    is gone now the upward Journey For
  • 00:02:03
    polygon Matic will only start if it goes
  • 00:02:06
    back and conquers 52 cents C starts
  • 00:02:08
    living above it if polygon Matic is not
  • 00:02:11
    able to conquer 52 cents then I have to
  • 00:02:13
    assume that the upper journey is done
  • 00:02:15
    and polygon is actually going to uh
  • 00:02:18
    continue with the downward journey of
  • 00:02:20
    course our first Target is 42 cents
  • 00:02:23
    after that I'll come back and I'll see
  • 00:02:25
    how further we can drop this
  • 00:02:28
    thing yeah first first 42 cents makes
  • 00:02:31
    sense there is a bit of action there of
  • 00:02:34
    course the summer prices the discounted
  • 00:02:36
    prices are around 36 Cents but we will
  • 00:02:39
    get to it when when it's the right time
  • 00:02:43
    right now uh if you are looking for it
  • 00:02:46
    um to go up I think jumping in wouldn't
  • 00:02:48
    make sense because it's a suicidal move
  • 00:02:51
    something is dropping and you're trying
  • 00:02:52
    to catch a falling knife in the market
  • 00:02:54
    it's a very famous phenomena that when a
  • 00:02:58
    knife is falling you don't catch it
  • 00:02:59
    because because it will slice through
  • 00:03:01
    your hand uh not every dip is a dip to
  • 00:03:05
    buy I personally like to buy things with
  • 00:03:08
    confirmations rather than just jumping
  • 00:03:10
    in and right now we're sitting at the
  • 00:03:12
    ear end where things are extremely
  • 00:03:14
    unclear and if there is no Bon next year
  • 00:03:17
    then jumping in means suicide
  • 00:03:20
    because polygon might be sitting at uh
  • 00:03:23
    40 cents or 46 cents or close to 50
  • 00:03:26
    cents but it will end up going to 10
  • 00:03:29
    cents if the Beer Market starts so
  • 00:03:32
    jumping in here is committing suicide I
  • 00:03:35
    don't think it's a good idea always have
  • 00:03:38
    confirmation and for us to have an
  • 00:03:40
    uptrend confirmation it needs to break
  • 00:03:41
    about 52 cents spend uh 2 days there
  • 00:03:45
    after seeing it about 52 cents for 2
  • 00:03:48
    days only after that we can say okay now
  • 00:03:50
    we're back to our journey towards $1
  • 00:03:53
    first 60 then 70 then 80 and then no 90
  • 00:03:57
    then it's direct a dollar I told you 90
  • 00:03:59
    would matter that much but for all that
  • 00:04:03
    52 was our last hope that we have lost
  • 00:04:06
    now if we don't get the 52 it will just
  • 00:04:08
    continue to bleed and that's pretty much
  • 00:04:10
    it with polygon Matic thank you for
  • 00:04:12
    watching the video if you have any
  • 00:04:14
    questions or I have touched on a topic
  • 00:04:16
    and I you expect me to explain a bit
  • 00:04:19
    more I'll try my best to explain that to
  • 00:04:20
    you in the comments leave a comment and
  • 00:04:23
    I'm not going to tell you to like And
  • 00:04:25
    subscribe because if you're not
  • 00:04:26
    interacting with the video or if you're
  • 00:04:28
    not subscribed you not going to to see
  • 00:04:30
    all the 10 videos that I make every day
  • 00:04:32
    you're going to miss out on it and I
  • 00:04:33
    think you are educated enough to
  • 00:04:36
    understand what to subscribe and what
  • 00:04:37
    not to because if you want to miss out
  • 00:04:39
    on it then why not it's for your own
  • 00:04:42
    good and you should know better what is
  • 00:04:43
    good for you
Tags
  • Cryptocurrency
  • Polygon
  • Matic
  • Market Analysis
  • Investment Advice
  • Support Levels
  • Bear Market
  • Rebranding
  • Price Prediction
  • Uptrend Confirmation