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MATIC’s fuel might not be over yet|Trade setup for 30% upmove

Long
BINANCE:MATICUSD   MATIC Network / US Dollar (calculated by TradingView)
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Quick glance: As of now, MATIC jumped higher by approximately 21%. After a fiercely volatile selloff in the past few days, we are witnessing a trend reversal as MATIC made a decisive upswing with huge volumes.


Market in the last 24hrs
The last 24 hours were intensely volatile. After the decline to $0.62, the past 24 hours witnessed a major turnaround. It shot up more than 21%.

Today’s Trend analysis
MATIC has been until huge selling pressure lately. However, this does not undermine the potential of the coin with its several impactful project partnerships going on currently. If MATIC is able to breach the immediate resistance level with good volumes, we would have a nice trade setup with reward : risk ~~ 2:1

Price volatility remained extremely high at approximately 27.4%, with the day's range between $0.668 — $0.851.

Price at the time of publishing: $0.834
MATIC's market cap: $5.33 Billion



  • Out of 11 Oscillator indicators, 7 are neutral, 3 are bearish and 1 is bullish .

  • Out of 15 Moving average indicators, 1 is 'NEUTRAL', 4 are bearish and 10 are bullish .

  • Indicator summary is giving a ‘BUY’ signal on MATICUSD .

Volumes have bumped up over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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Comments

need more setups just like this
+1 Reply
Great analysis guys! Outta likes, be back soon
+1 Reply
Mudrex ShawnMCR
@ShawnMCR, thanks for your kind words Shawn :)
Reply
Nice chart
+1 Reply
Nice setup dude
+1 Reply
proper TA with great summary I like it
+1 Reply
Mudrex ProjectSyndicate
@ProjectSyndicate, thanks ProjectSyndicate :)
Reply
Wonderful,thank you for sharing
+1 Reply
Thanks for sharing my dear friend
Reply
Feel free to share your thoughts, views and ideas on MATIC here
Reply