I have to admit... I absolutely hate this chart. It's so ugly. Just like XRP and TRX.
That being said. I'm still quite bullish on Matic. There has not been big news coming out of the company lately, but I'm sure they will announce something massive and DeFi-esque soon.
That chart is getting closer to the end of this massive triangle and soon has to decide weither it should roll over and die or explode upwards. (My guess is the latter).
The lower yellow line has been respected as support 5 times. Last time was yesterday.
The blue horisontal line has also been of big significance @ 167 sats.
My guess is that we break out of the traingle to the upside -> Meeting resistance at the top yellow and top green line (bit of zig-zag in that area) -> retest the top green line and bounce off it -> MOON CITY.
I would not be surprised though if we revisit 167 sats one last time as a fake-out. If what were to happen I would be buying enormous amounts og Matic.
Let me hear what you think!
#DYOR
That being said. I'm still quite bullish on Matic. There has not been big news coming out of the company lately, but I'm sure they will announce something massive and DeFi-esque soon.
That chart is getting closer to the end of this massive triangle and soon has to decide weither it should roll over and die or explode upwards. (My guess is the latter).
The lower yellow line has been respected as support 5 times. Last time was yesterday.
The blue horisontal line has also been of big significance @ 167 sats.
My guess is that we break out of the traingle to the upside -> Meeting resistance at the top yellow and top green line (bit of zig-zag in that area) -> retest the top green line and bounce off it -> MOON CITY.
I would not be surprised though if we revisit 167 sats one last time as a fake-out. If what were to happen I would be buying enormous amounts og Matic.
Let me hear what you think!
#DYOR