🔍Today, our focus is on MATIC, which finds itself on a significant support level in the 4-hour timeframe, presenting a vital opportunity for its progress path.
☢️Following the Iran-Israel conflict news, the entire market experienced sharp declines, leading to a more rational market condition. The previous sharp wave corrected to the 0.382 Fibonacci level, and currently, with the breach of $0.6449, we could anticipate another downward movement.
📊Red candle volumes continue to surpass green candles, confirming the downtrend. Additionally, the SMA25 indicator approaching the price could potentially drive it downwards, serving as validation for the continuation of the trend. If SMA25 fails to exert downward pressure, the market may enter a range until SMA99 aligns with the price.
📉The short trigger lies at $0.6449, coinciding with the support breach, validating the Fibonacci continuation level as a good entry point. Simultaneously, if the RSI closes below 34.25, it further confirms the entry, providing additional confidence.
📈For long positions, a trigger at $0.7491 could be suitable, requiring at least one price reaction to establish a higher low. In such a scenario, the price has returned from the 0.382 level but failed to breach the main support, indicating seller exhaustion.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
☢️Following the Iran-Israel conflict news, the entire market experienced sharp declines, leading to a more rational market condition. The previous sharp wave corrected to the 0.382 Fibonacci level, and currently, with the breach of $0.6449, we could anticipate another downward movement.
📊Red candle volumes continue to surpass green candles, confirming the downtrend. Additionally, the SMA25 indicator approaching the price could potentially drive it downwards, serving as validation for the continuation of the trend. If SMA25 fails to exert downward pressure, the market may enter a range until SMA99 aligns with the price.
📉The short trigger lies at $0.6449, coinciding with the support breach, validating the Fibonacci continuation level as a good entry point. Simultaneously, if the RSI closes below 34.25, it further confirms the entry, providing additional confidence.
📈For long positions, a trigger at $0.7491 could be suitable, requiring at least one price reaction to establish a higher low. In such a scenario, the price has returned from the 0.382 level but failed to breach the main support, indicating seller exhaustion.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2