MATIC - The probability of forming a range trend is higher

MATIC continued its downward trend during the past week. The break of a support in the area of the previous floor, i.e. the price of $0.76, led to the formation of a new bearish wave in the daily time. But because other supports are at lower levels, the failure of this area has not yet been confirmed. Therefore, we can expect a range trend from MATIC this week. We can check this case more precisely in 4 hours time. In the 4-hour period, a double bottom pattern has formed in the range of $0.75, which, if the pattern is confirmed, the price can grow to the resistance of $0.78-0.79. On the other hand, due to the formation of a lower floor in the daily time, this resistance can work, and reduce the price again. Therefore, the probability of forming a range trend is higher.