Cryptolean Chainlink MATIC Update
Polygon MATIC declined sharply to $1.01, the key daily support.
A bullish reversal from $1.01 is likely and will result in a bullish move to re-test $1.07 and the key daily resistance zone of $1.14-$1.20.
A bearish break-out of $1.01 will push #MATIC price in the daily range zone and will increase probability of a deeper correction towards the next support at $0.89.
Intraday Chart
The MATICUSDT 4-Hour chart is bearish and teasing the resistance at $1.07.
A bearish rejection of $1.07 will lead to $1.01 and lower to the key support zone of $0.86-$0.92, where I will be closely watching the MATIC price action, as the bullish rejection of this zone is possible.
A bullish break-out of $1.07 will lead to a re-test of $1.13 and, possibly, $1.19, however the price action may be slow and choppy.
Support once read!
Thank you.
A bullish reversal from $1.01 is likely and will result in a bullish move to re-test $1.07 and the key daily resistance zone of $1.14-$1.20.
A bearish break-out of $1.01 will push #MATIC price in the daily range zone and will increase probability of a deeper correction towards the next support at $0.89.
Intraday Chart
The MATICUSDT 4-Hour chart is bearish and teasing the resistance at $1.07.
A bearish rejection of $1.07 will lead to $1.01 and lower to the key support zone of $0.86-$0.92, where I will be closely watching the MATIC price action, as the bullish rejection of this zone is possible.
A bullish break-out of $1.07 will lead to a re-test of $1.13 and, possibly, $1.19, however the price action may be slow and choppy.
Support once read!
Thank you.
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Cryptolean community: www.youtube.com/@cryptolean
