MATIC is setting up after a nice push from the inverse head and shoulders last month. After a nice push out of the upper trendline and previous resistance, it could be ready to make a move up to ATH's. With this bull run in BTC and ETH, we should see the altcoins following in the next days and weeks.
If MATIC can break out of this 1.6-1.7 zone, I think it can make a nice push up, and maybe make a new ATH soon.
On the fundamental side, this is a very strong coin with great potential. It is directly correlated with ETH as they work together and MATIC allows ETH to work with other blockchain networks and can be used to build apps and networks on the MATIC platform and then to be transferred to the ETH network.
The breakout of the inverse H&S was done on big volume, which means it is a legitimate breakout and a very BULLISH sign.
It also retested the original breakout zone which is another VERY bullish sign.
** Looking for a break above 1.6 and then 1.7
$1.8 is first target
If MATIC can break out of this 1.6-1.7 zone, I think it can make a nice push up, and maybe make a new ATH soon.
On the fundamental side, this is a very strong coin with great potential. It is directly correlated with ETH as they work together and MATIC allows ETH to work with other blockchain networks and can be used to build apps and networks on the MATIC platform and then to be transferred to the ETH network.
The breakout of the inverse H&S was done on big volume, which means it is a legitimate breakout and a very BULLISH sign.
It also retested the original breakout zone which is another VERY bullish sign.
** Looking for a break above 1.6 and then 1.7
$1.8 is first target