MATIC has formed a classic Stage 1 base (accumulation) for the past 6 months and one of very few coins in this market structure. Think we'll likely see a breakout to stage 2 shortly, which is when dips to the 21/50 day are for buying. Plenty of room on RSI for a big move here.
The catalyst that I think could launch MATIC to ATHs is the release of zkEVM mainnet in the next couple months. Watch for another base to form prior to that announcement.
The past 2-3 weeks saw the most beaten down names outperform, but these have a ton of overhead supply to digest and will base as MATIC has already done. Those that bottomed in June and have been basing well off the lows are the coins that will likely outperform over the coming months
The catalyst that I think could launch MATIC to ATHs is the release of zkEVM mainnet in the next couple months. Watch for another base to form prior to that announcement.
The past 2-3 weeks saw the most beaten down names outperform, but these have a ton of overhead supply to digest and will base as MATIC has already done. Those that bottomed in June and have been basing well off the lows are the coins that will likely outperform over the coming months
Comment:
Looks like we got our big volume, stage 1 breakout. Time for the MATIC bull to takeover #zkEVM