We honestly love MATIC and ETH ecosystem. Sold our bag recently at $0.8 wanted to come back in and didn't expect the strong bounce at the .786 fib level. Was expecting an immediate retrace to 0.618.
Been watching this chart and noticing an ascending wedge, expecting things to break down to around 0.618 test for support.
Please don't hate us for the bearish view, we love MATIC and we want to come back in, was bullish till the ascending wedge formed.
Our goal is not be superior or righteous, we just want to observe the market, and regularly react with a rational point of view. Btw, we are long Matic, if you are in it for HODL, we are expecting a price target of $4 to $6 by the end of bull cycle.
Traders always want the herd do what they are doing. Charts don't look at fundamentals. As a protocol, Matic is in the sweet spot as a Sidechain for the Ethereum Ecosystem. Faster, cheaper transactions. Charts lie. People lie. But go ahead. All traders think they are smarter than the other guy. So good luck on your rational view. I don't hate. I'm just trying to reach the easily swayed people and stop them from making a HUGE mistake. Just HODL! Matic is cheap as chips.
BecomeACryptoMillionaire
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@thundaarthebarbarian, bro i agree. hodl and profit. i just see charts and it looks like is gonna break down, so if someone is buying, there could be lower prices short term. long term, us buyers will all profit
ImThaJoker
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@thundaarthebarbarian, exactly what matic does for the ethereum ecosystem and NFTS and defi is way ahead of anyone of its competitors. It’s really no telling what the new ATH is going to be after this bull run/cycle. I see a lot of people saying 3$/7$/10$. In all reality with as many projects that has partnered with matic in the past couple months alone this could easily be 10$ and it’s just the beginning.
BecomeACryptoMillionaire
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@ImThaJoker, yes i agree. short term i m looking for a pull back so I can come back in buying
Zerker00
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I'd disagree the pattern is still bullish, i believe the chart is forming a ascending right triangle but we'll see in the American market today