MATIC Price Is Targeting $0.74 Level, Tamadoge Token Presale 90% Sold Out

Bears dominate MATIC market

Polygon (MATICUSD) Price Analysis – September 15

In case the bulls defend the support level of $0.74, MATIC may reverse and continue a bullish trend to $0.90, $1.01 and $1.18 levels. Further decrease in the Polygon price is highly envisaged provided the support level of $0.74 does not hold, $0.64 price level may be reached and penetrated to test the $0.47.

Key Levels:

Resistance levels: $0.90, $1.01, $1.18

Support levels: $0.74, $0.64, $0.47

 

MATIC/USD Long-term Trend: Bearish

MATIC/USD price is on the bearish trend on the Long-term outlook. The double top chart pattern formed at the resistance level of $1.01 is an indication that price will fall. The bulls were in control of the Polygon market many days before bears took over the market; the bullish trend pushed up the price and found resistance at $1.01. The price descending towards $0.74 support level.

Polygon is trading below the 9 periods EMA and 21 periods EMA. In case the bulls defend the support level of $0.74, the price may reverse and continue a bullish trend to $0.90, $1.01 and $1.18 levels. Further decrease in the Polygon price is highly envisaged provided the support level of $0.74 does not hold, $0.64 price level may be reached and penetrated to test the $0.47.

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MATIC/USD Short-term Trend: Bearish, Tamadoge Token Presale 90% Sold Out

Polygon is bearish on the medium-term outlook. Sellers are exerting more pressure on MATIC. The price action on 4 hour chart has formed a Short “M” chart pattern. The price tested the resistance level of $0.90 on September 13. The level holds and the bulls could not push the price above the mentioned level. The price decreases towards $0.74 level.

The Polygon price is trading below the two EMAs with close distance between them which indicates a low bearish trend. The 9-day EMA is below the 21 periods EMA. However, the relative strength index          period 14 is below 42 levels with the signal line pointing down to connote sell signal.

During the TAMA presale, 1 billion tokens will be sold. This number equates to 50% of the entire TAMA supply. The solid tokenomics of TAMA is one of the reasons why the presale has become very popular. Unlike other memecoins with trillions and quadrillions of coins in supply, TAMA’s supply is capped at 2 billion. TAMA has also been securing new partnerships that make the memecoin popular in the crypto community. To make it easier for traders to invest in the memecoin, the Tamadoge team has announced Fiat On-Ramp support allowing users to buy Ether with a card or using local payment methods such as Transak and then convert the ETH into TAMA.

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