MATIC looks tired
https://www.tradingview.com/x/jjifRKSU/
MATIC looks tired.
- Distinct Wave 5 could be ending
- Overbought Stoch RSI 8h
- Broken down from long-term ascending parallel channel
Decreased Network Activity:
Despite an increase in active addresses, MATIC's price has declined, indicating that heightened network activity isn't translating into price support.
Increased Selling Pressure:
A rise in open interest indicates that traders are increasing exposure to MATIC, but if this is driven by short positions, it could lead to increased selling pressure and a subsequent price decline.
A good strategy is repetitive, and even boring.
Keep it simple and efficient.
MATIC looks tired.
- Distinct Wave 5 could be ending
- Overbought Stoch RSI 8h
- Broken down from long-term ascending parallel channel
Decreased Network Activity:
Despite an increase in active addresses, MATIC's price has declined, indicating that heightened network activity isn't translating into price support.
Increased Selling Pressure:
A rise in open interest indicates that traders are increasing exposure to MATIC, but if this is driven by short positions, it could lead to increased selling pressure and a subsequent price decline.
A good strategy is repetitive, and even boring.
Keep it simple and efficient.
Trade active
Forgot to add:
We see a 12% drop in the coming days.
But positive trend is still there, so this could have another leg up after.
Trade closed: target reached
DECEMBER 09
Over the past five days, MATIC has exhibited significant volatility. On December 4, it was trading around $0.648, reaching a high of $0.716 on December 7, before declining to approximately $0.575 as of December 9.
IT BLEW PAST OUR 12% DROP ESTIMATE.
DROPPING OVER 28% SINCE DEC 06.
Looks like MATIC was indeed tired.
Be alert.
Trade green.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.