Calm movement of the price to the target without unpleasant surprises in the form of sharp corrections. This is exactly what the last 4 trading weeks on the MATIC market looked like. In the previous analysis, we wrote that we expect a price increase with the first target of $1.8. So far, this scenario remains relevant. However, there is a great threat of collapse of the <a href="https://www.cryptoknowmics.com/news/harvest-finances-defi-is-now-available-through-polygon-matic/">cryptocurrency market</a>, which will lead to the MATIC market.

<img src="https://s3.tradingview.com/snapshots/t/TfPVNg5i.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/TfPVNg5i/">https://www.tradingview.com/x/TfPVNg5i/</a>

At the moment, the BTC price is preparing to update the historical high. BTC buyers did not meet any resistance in the key range of $60,000-$63,000. And this fact may hide an unpleasant surprise just above the historical high of Bitcoin. How the MATIC market will behave is difficult to predict primarily due to trading volumes. Although buyers managed to raise the price by 20% in 2 weeks, the market is trading at low volumes. This means that all the achievements of buyers in a few weeks can be crossed out by one daily candle down.

Also on the weekly chart, we see that to choose a medium-term scenario on the MATIC market, it is necessary that the price comes out of the consolidation triangle. As the main trend line of buyers from March 2021 is under their control, the probability of a continuation of the growth wave is slightly higher. This will be confirmed by the MATIC price fixing above the $1.8 mark.
<h2>MATIC Technical Analysis On The Daily Timeframe</h2>
<img src="https://s3.tradingview.com/snapshots/g/gQHerwwc.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/gQHerwwc/">https://www.tradingview.com/x/gQHerwwc/</a>

Analyzing the daily chart, you can see the abnormal trading volumes that took place on 15 October. Thanks to these volumes, buyers were able to update the local high. However, it was not possible to provoke an aggressive growth wave in the MATIC <a href="https://www.cryptoknowmics.com/news/matic-technical-analysis-price-chart-broke-the-range-between-1-36-and-1-22-on-the-upper-side-with-a-new-rise/">market</a> with these volumes. At that time, a local correction of the growth wave on 21 September began. To successfully continue this growth wave, buyers need to keep the range of $2.24. The loss of this range could mean the formation of a new fall wave in the global correction of MATIC from May 2021. In this case, the first target of sellers will be at $0.87.
<h2>The MATICBTC Price Is Still Under The Control Of Sellers</h2>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/i/IFrbOrlt.png" alt="Matic" width="1386" height="790" />

<a href="https://www.tradingview.com/x/IFrbOrlt/">https://www.tradingview.com/x/IFrbOrlt/</a>

Analyzing the MATICBTC chart, it becomes clear why the famous release of trading volumes on 15 October did not stimulate a new growth wave. The fact is that even with the help of these volumes, buyers failed to take control of sellers over the global trend line. This means that a large number of sellers remain in the MATICBTC market. In this case, you should be prepared for another fall wave in the MATICBTC market by about 30%-40%. Therefore, you should buy MATIC either after the breakdown of the global upward trend line or after another impulse.

MATIC Technical Analysis: At The Crossroads Of Two Scenarios

In the technical analysis, so far, this scenario remains relevant. However, there is a great threat of collapse of the cryptocurrency market, which will lead to the MATIC market.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

MATIC Technical Analysis: At The Crossroads Of Two Scenarios

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