Hi everyone,
We are in the
MATIC
weekly chart and as you can see,
MATIC
has fluctuated in a beautiful Symmetrical Triangle since registering a new ATH. Also, during recent weeks,
MATIC
has been engaged in consolidation, which has caused it to register some lower highs in this triangle and convince us that it will soon exit from the upper side of this triangle.
In the lower part of the chart, we can see that
MATIC
has formed a strong support area in the range of 50 cents. Currently, the 100WMA resistance is considered as the only factor preventing
MATIC
from exiting this triangle. If
MATIC
can cross the 100WMA barrier, it will simultaneously exit this boring triangle and start a new uptrend.
But if
MATIC
cannot cross the 100WMA barrier for any reason, then we will see it fall back to the bottom of the triangle and record some higher lows. Anyway we will wait for the next events of the crypto market and confirmation of the trend.
As always this is not a financial advice & please do your own research.
"Like" & "Follow" if you want to see more of these ideas.
Goodluck
We are in the
In the lower part of the chart, we can see that
But if
As always this is not a financial advice & please do your own research.
"Like" & "Follow" if you want to see more of these ideas.
Goodluck