MATIC - new ATH, preparing for price discovery mode
MATIC is one of best performing cryptos in recent time.
Chart looks great, new ATH is reached, HH and HL since summer.
Only thing that bothers me is the volume. If you compare volume from previous breakouts and upwards moves, current volume is too small.
Breakout without volume confirmation can result in false breakout. Hope it is not the case here.
If MATIC manages to stay above previous ATH level, consolidates for some time (without falling sharply down) further price discovery mode is probable!
Take a look at previous MATIC analysis where I also mention this potential "volume problem":
Chart looks great, new ATH is reached, HH and HL since summer.
Only thing that bothers me is the volume. If you compare volume from previous breakouts and upwards moves, current volume is too small.
Breakout without volume confirmation can result in false breakout. Hope it is not the case here.
If MATIC manages to stay above previous ATH level, consolidates for some time (without falling sharply down) further price discovery mode is probable!
Take a look at previous MATIC analysis where I also mention this potential "volume problem":
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