MATICUSDT Analysis May 26, 2022

We are Bearish on Polygon Network, MATICUSD , since early April, 2022. The Horizontal Resistance Line at ($1.600) could not hold support very long, the Horizontal Support Line at ($1.060) was shattered, and the price drop continued all the way down to ($0.600). The 200-Day Moving Average couldn't be reclaimed, the Daily Downtrend Line has also been broken, and we are kind of hanging around this softer Support Line at ($0.660). We are down over 75% since the All Time High in December of 2021. The Daily Downtrend Line, unfortunately (or fortunately ;)) has a triangle formation at the ($0.266) Support Area in late 2022 (not visible on this chart). We've researched many projects in the past couple weeks and almost all of them have this triangle formation in November and December of 2022. Will the next Bull market start in early 2023...? Not Financial Advice...Trade with Confidence and Control.

** In the wake of the Terra collapse, Polygon has teamed up with Terra-based NFT ecosystem OnePlanet to provide funding and technical support for projects migrating to Polygon...