What’S up, everyone welcome to crypto maximalist today we’re taking a look at polygon and its recent price action and make sure to watch the video till the end for a price prediction for the short and the long term as well. First things: first, please smash the like subscribe and hit the bell icon youtube is not pushing crypto content out currently, and our subscribers aren’t getting notifications so make sure to join our free telegram to stay up to date with all of our videos, as they are posted Links in the description, it really helps if you hit the like we’re posting four videos per day, so come back every day for daily updates and analysis and make sure to comment down below for your chance to win a hardware wallet in our new month. For the giveaway we’d also like to thank you all so so much for your support. We’Ve just hit 10k subscribers so make sure to subscribe. If you haven’t already, this is not financial advice.
Welcome to crypto maximalist! Let’S begin, [ Music ]! What’S up guys so, just before we begin, we’ve had many reports, our subscribers aren’t seeing our content, and this is most likely because you haven’t hit the real subscribe button, which is the bell icon with all notifications turned on, give it a tap now turn on all Notifications and you’ll most likely see most of our videos being posted. Also, if you want to support the channel, make sure to tap that like it really really helps us out we’re posting four videos per day so make sure to check back every single day for daily updates, so we’re just taking a really quick look at polygon here. We are going on a trip for the next few days, so we are going to keep this really short and sweet, but as you can see, you know things looking really good for polygon aren’t they we’ve obviously broken out of a lot of key resistances.
Here we’ve been stuck in this falling wedge for a long last time. We basically you know we faked out to the downside, didn’t we got ridiculously oversold. This was just a crazy impulsive move to the downside and you can see. We’Ve got a very, very nice bounce here. This was off the 618 fibonacci retracement by the way, so really really cool to see, and obviously, as you can see, we actually got a really really good.
Pickup off the lows came all the way up tested resistance, flipped. It into support came up again broke through the 20 flipped it into support. We tried to test the 50 but got rejected, and you know since then, we’ve been you know consolidating between the 50 and the 20. Haven’T we so looking really really bullish for continuation? You can see that we have been consolidating really really nicely here in this kind of in these sorts of levels here around one dollar, and this does look like it’s poised for a breakout at any time, really, obviously, with bitcoin having a retracement like it’s been having.
We have been, you know, pausing the pump that we have been having over the past few days, but i mean this is essentially a v-shaped recovery. Isn’T it you can see quite clearly we came down. We got really really impulsively overextended to the downside, and i mean considering all the bullish divergences that we’ve been seeing here. You know there’s a massive bullish divergence on our histogram here, for example – and you know since then, we’ve had a really nice move to the upside. Haven’T we so currently, you know we’re looking for that retracement with bitcoin as well, hopefully to retest some of these support levels and we’re currently holding the 20th support, really really bullish.
You can see it here and you know we’re probably looking for potentially retracing to around that you know the one dollar level’s really strong support, we would say – or maybe even coming back down to that 90 to 93 um cent level as a decent support. You know potentially before having a nice little continuation, because we do think you know bitcoins having a retracement right now, because it’s looking for a nice little bit of support and a nice little back test before continuation and if we do break out of that big. You know that big um range that we have been stuck in for bitcoin between around 42 43k and that 29k area. We are gon na see absolute fireworks for altcoins. Aren’T we and you know matic, looks like it’s about to explode right now, consolidating the way that it is so you know things looking really really good.
Obviously, there’s a lot of people saying you know: things are boring right now, everything’s going sideways, but you know we’re showing a lot of signs of life. Aren’T we we’re? You know back testing key levels of support. This was a six one. Eight, you can see we’re.
Actually, you know coming up we’re breaking through this resistance. We broke through this resistance and you know we’re consolidating for another leg: up, aren’t we and when you break out of a descending wedge like this, your technical target is where you formed it, which would be our all-time high here around 270 So we’re looking like we’re on on the road potentially to coming back up to this in the next few months and then obviously we do think by the end of the ball run. We do think polygons, probably going to be coming up to around that 10 mark. It’S going to be a very, very strong psychological level, acting like a magnet drawing the price towards it, and you know that’s only going to be around a 10x from the current price, so very, very achievable. Considering the market cap limitations as well.
So taking a quick look at the weekly, then just to start rounding things off, you can see quite clearly that we have actually um. We have actually been. You know coming down to some key levels here, but basically you know finding our 618 retracement has a perfect little level of support and we’ve reclaimed the 20 on the weekly time frame, the 20 moving average. This is really really bullish for continuation and we wouldn’t be surprised to see polygon potentially back test this again. That would be around that 93 94 level that we said before at around this level.
Here, perfect, you know, there’s a good amount of confluence of the support here on the 20 moving average and also this previous swing low. So if we did back test this and then start to move up, things would be looking really good weren’t they so short-term price predictions. Then just rounding things off. You can see that essentially, you know would be um we’re currently kind of chopping. It up.
We’Ve come up and made some some form of range here. We could potentially perform some kind of a sending triangle – something like this, but you know if bitcoin does have a nice little retracement. We could be looking at coming down to some of these levels here. Maybe at around 92 93 cents and back testing before that next leg up, you know, but do anticipate that retracement, because obviously whatever bitcoin does polygon will also do. But you know if we do get that back test at some of these levels.
Potentially, here do anticipate that we could be potentially looking at coming up and you know tackling some of these next levels up which would be around this 120 125 level and then maybe later on, that 140 and that 170 level, because you know we’re looking at tackling Some of these levels, as we re reverse out because we have been in a downtrend, but you know we’re breaking out of this now we’re looking at all kinds of levels of resist resistance being broken right now, and you know things keep on in the in the Direction that we’re heading we’re going to be reversing out of here in no time for polygons. So that’s our update today, guys we’d like to thank everyone for watching. If you have any comments, questions or suggestions, please let us know down in the comment section below. Please make sure to like subscribe and hit the bell icon, so you can keep up to date with all of our videos, remember, to comment down below and be subscribed to enter into our brand new monthly giveaway for a hardware wallet if you’d like to support the Channel more directly, please sign up to our patreon via the link in the description below or sign up to youtube membership by hitting the join button right next to the sub below this video, where you can get access to our private discord, we’re offering coin calls one-to-one Access to us personally, insight into our personal portfolio daily research of crypto assets, with massive potential and access to our brand new 100x portfolio with so many benefits you might as well check it out below. Don’T forget to get two free stocks with weibo by signing up and then depositing 100 using our link in the description below you can quite literally deposit the hundred dollars get your two free stocks and then withdraw the money.
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