MATIC : Looking for a 2X Profits Probability?!
I dont have much to say about Polygon. It surely is and must be considered as one of the highly rated potential projects.
Fundamental wise it surely did show its strength through out the bear market specially by having a well articulated mainstream media coverage while it collaborate with heavy names in different sectors around the world mostly from the developed nations.
How about the Technical Aspect?
Well, this question surely is dependent on the overall crypto market sentiment. Specially if it is going to be the starting of an alt season[by which we still couldn't confirm the bull market in settled manner] #MATIC will be one of the best performers in the market. But what if Bitcoin fails to achieve and continue its strength and go in search of a new lower low. Then it will be a good accumulation opportunity to grab more to our pockets.
For now lets try to hear the chart's heart beat looking a little bit closer. In this post I will just raise three main reasons for saying #Matic is showing a bullish alert at least for the long term.
1/ PATTERN FORMATION : The formation of a major triangle consisting of minor neutral triangles is formed. And it just broke out by the past week and trying to continue the momentum in the North direction. Last week's candle also close above a major resistance area at around $0.93 [0.23 fib level] breaking out from the traingle strongly passing the EMA levels.
2/ Guppy Moving Average: This indicator is showing that a bullish sentiment in the market is already here on the 1D chart and the shorter period EMA's are trying to pass past the longer period EMA's which will be considered bullish as far as they are moving below the current price.
3/ RSI: RSI line is looking in a bullish setup and is in a healthy movement in addition to the fact that it crosses the RSI based MA which is a bullish sign by itself.
This analysis is mainly consider to view from a Mid to Long Term investment opportunity and more or less for hodling for some time.
Accumulation Area : $0.9 - $1.1
Target Area : $2.9+
[NOTE : There might be a downward reversal/pullback movement but since this long position is for a longer term timing it would be better to just forget it and check it in a time of half to full year time.]
Mean while, I will give updates on the shorter term sentiments about #Matic.
If you agree with this analysis drop a like and share it to someone whom you think will benefit from it. Otherwise please do consider to drop your comments if you have any disagreement on the idea and lets flow the knowledge and benefit mutually.
Stay safe blessed. Stay Tuned too.
Fundamental wise it surely did show its strength through out the bear market specially by having a well articulated mainstream media coverage while it collaborate with heavy names in different sectors around the world mostly from the developed nations.
How about the Technical Aspect?
Well, this question surely is dependent on the overall crypto market sentiment. Specially if it is going to be the starting of an alt season[by which we still couldn't confirm the bull market in settled manner] #MATIC will be one of the best performers in the market. But what if Bitcoin fails to achieve and continue its strength and go in search of a new lower low. Then it will be a good accumulation opportunity to grab more to our pockets.
For now lets try to hear the chart's heart beat looking a little bit closer. In this post I will just raise three main reasons for saying #Matic is showing a bullish alert at least for the long term.
1/ PATTERN FORMATION : The formation of a major triangle consisting of minor neutral triangles is formed. And it just broke out by the past week and trying to continue the momentum in the North direction. Last week's candle also close above a major resistance area at around $0.93 [0.23 fib level] breaking out from the traingle strongly passing the EMA levels.
2/ Guppy Moving Average: This indicator is showing that a bullish sentiment in the market is already here on the 1D chart and the shorter period EMA's are trying to pass past the longer period EMA's which will be considered bullish as far as they are moving below the current price.
3/ RSI: RSI line is looking in a bullish setup and is in a healthy movement in addition to the fact that it crosses the RSI based MA which is a bullish sign by itself.
This analysis is mainly consider to view from a Mid to Long Term investment opportunity and more or less for hodling for some time.
Accumulation Area : $0.9 - $1.1
Target Area : $2.9+
[NOTE : There might be a downward reversal/pullback movement but since this long position is for a longer term timing it would be better to just forget it and check it in a time of half to full year time.]
Mean while, I will give updates on the shorter term sentiments about #Matic.
If you agree with this analysis drop a like and share it to someone whom you think will benefit from it. Otherwise please do consider to drop your comments if you have any disagreement on the idea and lets flow the knowledge and benefit mutually.
Stay safe blessed. Stay Tuned too.
Related publications
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.