Polygon (MATIC) Market Analysis — May 2025
MATIC is currently trading at $0.237 and sitting right at a critical support zone. The structure is still holding, but pressure is building.
Current Situation
MATIC made an attempt to rally to $0.27 but failed to hold and is now trending back down.
Key support at $0.23 was tested today with a slight wick below but no confirmed breakdown yet.
Price action is forming a potential Cup and Handle pattern (bullish) and a double bottom around $0.23-$0.24 (also bullish if it holds).
Entry Zone (Buy Range)
$0.23 - $0.24
As long as price holds above $0.23 on a daily closing basis, this is a potential accumulation zone.
Targets
Initial Target: $0.25
Primary Bullish Target: $0.30 (Psychological resistance + Cup & Handle breakout target)
Extended Target (if breakout is strong): $0.35
Stop Loss
Below $0.23 (Confirmed if 2 daily candles close below $0.23)
If this happens, expect a possible sharp drop toward $0.15.
Strategy Notes
Holding $0.23 is crucial for the bullish scenario to play out.
A break and close below this would invalidate the setup and signal a deeper drop.
Watch volume and daily closes carefully before scaling in.