So Guys - today I am going to show you a small technical analysis for MATIC / Polygon Background information about the coin: research.binance.com/en/projects/matic-network Important: I have to mention that I am already invested in the coin - this could cause a conflict of interest.
Here is the analysis: The Coin has been in a sideways phase since June. Between 14 June and 04 September, a so-called Cup With Handle Formation has formed (yellow). The BreakOut has been sold off on 05 September under high volume. Since the "Fake Break Out", the price has again dipped into the sideways phase and is currently forming a so-called Volatility Contraction Pattern (green), which could lead to prepare a sustainable breakout.
A reversal candle was formed on October 23. A strong close above this candle would cause me to open a first additional position at 1.70. My stop loss would be set at about 1.33.
Important: This analysis is purely for educational purposes and is NOT an investment recommendation. You have your own brain - use it ! Good luck