MATIC/USDT appears to be carving out a classic ADAM and EVE bottom, signaling a potential reversal. Price movement is advancing towards a prime buyback region, aiming to finalize the EVE component of the pattern.
We should consider the immediate Buy Zone as a favorable entry point. On the flip side, a significant demand area lies beneath, poised to serve as robust support in the event of a decline below our delineated buyback threshold.
The Neckline of this formation merits close attention due to expected heightened volatility upon breakout. A successful breach here could catalyze sharp price movements, with both intermediate and ultimate targets depicted on the accompanying chart.
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Matic have potential of re-testing the local resistance before further drop towards he important demand area.
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We raised the buy back zone a bit up than what we have earlier, the setup target still remain same.
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Very good reaction from our important demand area, this is a good buy opportunity