{"id":384935,"date":"2024-04-17T12:30:37","date_gmt":"2024-04-17T07:00:37","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=384935"},"modified":"2024-04-17T12:08:26","modified_gmt":"2024-04-17T06:38:26","slug":"matic-corrects-25-in-7-days-why-0-73-is-an-important-level-now","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/matic-corrects-25-in-7-days-why-0-73-is-an-important-level-now\/","title":{"rendered":"MATIC&#8217;s $0.85 price target &#8211; Here&#8217;s ONE level that stands in its way"},"content":{"rendered":"<ul>\n<li><em>High liquidity at $0.73 could stop the price from appreciating further.<\/em><\/li>\n<li><em>The token&#8217;s next target could be $0.85 if bulls can clear the hurdle.<\/em><\/li>\n<\/ul>\n<p><a href=\"http:\/\/ambcrypto.com\/category\/polygon-news\/\" target=\"_blank\" rel=\"noopener\">Polygon [MATIC]<\/a>\u00a0might have shown signs of seller exhaustion but surpassing $0.73 might be implausible in the short term. This was the signal AMBCrypto got after checking the liquidation heatmap.<\/p>\n<p>Colors on the heatmap range from purple to yellow. Purples represent a low number of predicted liquidations. Yellow indicates high liquidation levels.<\/p>\n<p>According to data analyzed from Coinglass, there was a high level of liquidity around $0.73. At this level, open positions valued at $235,280 could be wiped out.<\/p>\n<figure id=\"attachment_384940\" aria-describedby=\"caption-attachment-384940\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap.png\"><img decoding=\"async\" class=\"size-full wp-image-384940\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap.png\" alt=\"Polygon (MATIC) resistance at $0.73\" width=\"2560\" height=\"1877\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap-300x220.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap-1024x751.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap-768x563.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap-1536x1126.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap-2048x1502.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/matic-polygon-heatmap-1200x880.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-384940\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<h4>Will MATIC escape?<\/h4>\n<p>But that wasn&#8217;t the only thing. The same zone might serve as resistance for the token. Therefore, if MATIC appreciates, a close above $0.73 could be a hard nut to crack.<\/p>\n<p>At press time, the Polygon native token changed hands at $0.68. This value was a 25.56% <a href=\"http:\/\/ambcrypto.com\/matic-is-down-but-is-polygons-nft-sector-the-key-to-saving-it\/\" target=\"_blank\" rel=\"noopener\">correction<\/a> in the last seven days.<\/p>\n<p>However, the Market Value to Realized Value (MVRV) ratio indicated a possible rebound for MATIC.<\/p>\n<p>As of this writing, the 30-day MVRV ratio was -18.37%. This reading implied that most holders of the token will be realizing losses if they sell at the current price.<\/p>\n<p>On the other side of the spectrum, the MVRV ratio <a href=\"https:\/\/app.santiment.net\/charts\/iKl6EZTk__sCl\" target=\"_blank\" rel=\"noopener\">indicated<\/a> that MATIC was undervalued. In recent times, when Polygon hits this region, a bounce happens.<\/p>\n<p>Should buying pressure appear at this point, the price could surpass $0.70 in the short term.<\/p>\n<p>As mentioned earlier, the token might face resistance at $0.73. However, if bulls intensify dominance, the resistance could be clear, and Polygon&#8217;s next target could be around $0.85.<\/p>\n<figure id=\"attachment_384947\" aria-describedby=\"caption-attachment-384947\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio.png\"><img decoding=\"async\" class=\"size-full wp-image-384947\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio.png\" alt=\"Polygon in an undervalued state\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-price-and-mvrv-ratio-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-384947\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>Besides the on-chain perspective, it is important to view the price potential from a technical lens. This was what AMBCrypto did.<\/p>\n<p>According to the 4-hour chart, MATIC had attempted to flip $0.75 on the 13th of April. But the token was forced back. A similar attempt appeared on the 15th but bears ensured that the token did not clear the path.<\/p>\n<h4>Price to swing sideways<\/h4>\n<p>At press time, bulls had formed support at $0.67. As long as this defense remains there, the value of the token might not drop below the point.<\/p>\n<p>Furthermore, the Relative Strength Index (RSI) turned downwards, indicating a bearish momentum. With the trend displayed, Polygon&#8217;s price might not hit $0.70 soon.<\/p>\n<p>However, if the RSI hits the oversold region, the cryptocurrency might recover. For the short-term price targets, the Fibonacci retracement showed that MATIC might swing between $0.62 and $0.67.<\/p>\n<figure id=\"attachment_384952\" aria-describedby=\"caption-attachment-384952\" style=\"width: 1154px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis.png\"><img decoding=\"async\" class=\"size-full wp-image-384952\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis.png\" alt=\"Polygon shows resistance \" width=\"1154\" height=\"691\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis.png 1154w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis-300x180.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis-1024x613.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis-768x460.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis-1000x600.png 1000w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis-590x354.png 590w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/polygon-matic-price-analysis-400x240.png 400w\" sizes=\"(max-width: 1154px) 100vw, 1154px\" \/><\/a><figcaption id=\"caption-attachment-384952\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"http:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\" target=\"_blank\" rel=\"noopener\">Polygon&#8217;s [MATIC] Price Prediction<\/a> 2024-2025<\/p>\n<hr \/>\n<p>In addition, the Awesome Oscillator (AO) flashed green histogram bars, suggesting that the increasing downward momentum could be nullified.<\/p>\n<p>If this is the case, the price of MATIC might head in the $0.71 direction where the 0.236 Fibonacci level was positioned.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MATIC&#8217;s positions worth almost $250,000 may be liquidated, which can force the price back.<\/p>\n","protected":false},"author":72,"featured_media":384963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,6382,4,20],"tags":[6427],"class_list":["post-384935","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-polygon-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MATIC&#039;s $0.85 price target - Here&#039;s ONE level that stands in its way - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Polygon [MATIC]\u00a0might have shown signs of seller exhaustion but surpassing $0.73 might be implausible in the short term. 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