MaryJ_1

MATIC in Falling Wedge Awaiting Breakout

MATIC has been roughly following a descending triangle pattern since May 23 with the price low of $0.74. Additionally, in the last few weeks, MATIC has been following a falling wedge pattern with declining volume. In a falling wedge, price tends to break above the upper trend line before the lines converge (but not always). I expect the price of MATIC to meet the base of the descending triangle at $0.74 before breaking above the falling wedge trendline for a significant price increase. If MATIC breaks the bottom support, I expect a price decline to about $0.54.
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