Technical analysis on MATIC 09.05.2022
The weekly acts as the bottom of last leg of ABC correction wave with some nice confluence in that zone. Great trade and rare opportunity. Now just to see if we will get another retest. Losing the level is unlikely because of how low the coin has sold off and touched the .786 retracement which is common for alt coins. IMO More likely this puts in the start of the impulse with possible ATH target. Keep in mind losing the level is still possible.
The weekly acts as the bottom of last leg of ABC correction wave with some nice confluence in that zone. Great trade and rare opportunity. Now just to see if we will get another retest. Losing the level is unlikely because of how low the coin has sold off and touched the .786 retracement which is common for alt coins. IMO More likely this puts in the start of the impulse with possible ATH target. Keep in mind losing the level is still possible.