MATIC/USDT 4HInterval Resistance and Support
Hello everyone, let's look at the MATIC to USDT chart on a 4-hour timeframe. As you can see, the price is moving in the local uptrend channel.
Let's start with the support line and as you can see the first support in the near future is the zone from $1.12 to $1.11, if the support is broken then the next support is $1.09 and $1.05.
Now let's move on to the resistance line, as you can see the first resistance is $1.13, if you manage to break it, then we have a resistance zone from $1.15 to $1.16, then support at $1.17 and $1.19.
Looking at the CHOP indicator, we see that the energy is growing strongly, the MACD indicates a local downtrend, while the RSI has a significant rebound, which creates room for the next increase.
Let's start with the support line and as you can see the first support in the near future is the zone from $1.12 to $1.11, if the support is broken then the next support is $1.09 and $1.05.
Now let's move on to the resistance line, as you can see the first resistance is $1.13, if you manage to break it, then we have a resistance zone from $1.15 to $1.16, then support at $1.17 and $1.19.
Looking at the CHOP indicator, we see that the energy is growing strongly, the MACD indicates a local downtrend, while the RSI has a significant rebound, which creates room for the next increase.