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(MATICUSD 1W Chart) - Mid-Long-Term Perspective
Support and resistance are weak due to a sharp rise.
Accordingly, careful trading is required.
If the price...
Expecting short term relieve.
First target is 1,2 extension of current range. This is at the red trendline.
If this trendline is breached, a retest of the trendline is likely followed by a next downward move.
This makes part of a bigger corrective move in terms of EW.
Target of 41cents. Starting point of current upward move.
Key reaction zone: red trendline
If ppl really understood great chains from bad ones (like ADA)... this would be pumping...instead... ppl like sweet names and forget the underlying technology; the underlying tech always wins. Just need to be patient....
This is a layer 2 solution for dApps built on Ethereum which allows traders to access, swap, exchange and stake ETH and ERC-20 tokens without the associated congestion and fees that plague the original smart contract platform. chart shows a lot of strength. We have been in a new accumulation zone since May and now it seems the price is now ready to go for new all...
MATIC is still trading inside the triangle making LL. My feeling is it might break towards the downside, if it does so - I have buy limit orders sitting at 23.6 fib level.
I am very bullish on polygon as a project and would be loading up for long-term hodl pf.
Polygon (Matic) To Retest ATH , $4.22 Price Target @ 161.80% Fibs. Matic is looking extremely healthy currently trading just below the key support level at the 38.20% fibs. We are looking extremely healthy for a continuation trend back to the ATH at $2.87. Our target after a retest of the ATH is at the 161.80% Fibs at $4.22 (157% Gain from the current price...
MATIC has broken out of a cup and handle pattern and is currently retesting support. Upon successful retest, a reasonable price target would be $1.98, but it could go up to $2.80. Keep in mind that this could take days or weeks to play out.
Also eyeing MATIC's bullish price action for another long opportunity.
We can see from my previous outlook, price indeed reverse from the falling wedge structure, and bullish impulse up.
Price is hovering around the previous highs, but in a consolidation, which is a good indication for another move after the correction completes.
As always be...
This is follow up video on the idea published.
In the video I talk trough the next important levels to look for. I forgot that 1.8 and 2.4 are also important temporary resistance zones where are are likely to form new weekly and monthly opens in the next weeks....
MATIC looks bullish to break ATH.
The convergence of the below two ideas to take us to ath:
1) expanding wedge
2) head and shoulders
When two ideas converge, there is a little more confidence in the TA. Anyways DYOR . BTC can be volatile and bull doze all gains.
If you like this perspective,please like my idea.
Also, please follow me for...
Matic is seems like it’s respecting the trend line. We could See this bad boy finally making the big move we all expect. I would keep an eye on this one with a great risk and reward is great as Swing trade.
Don’t forget to follow us for swing trades research on Risk and Reward management. Remember is a must to have a ratio reward:risk bigger than 2:1.