Updated
MATIC MOVING WITHIN ASCENDING CHANNEL.
This Analysis goes out to the request of erozsits
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We see MATIC have quite a large move to the upside, compared to most alts.
It is currently up 228% from its last bottom on June 2022.
At the time of writing, it is forming bullish market structure, breaking out of its wedge pattern on Oct 16, and successfully restested as support.
While It is moving within an ascending channel, there may be overhead resistance at the daily (1.03).
This may fall in line with the top of the channel.
Next line of resistance is the weekly at 1.10.
Please see the bars pattern I have included in the chart.
Trade Safe Friends <3333
Thank you very sending that request :)))
We see MATIC have quite a large move to the upside, compared to most alts.
It is currently up 228% from its last bottom on June 2022.
At the time of writing, it is forming bullish market structure, breaking out of its wedge pattern on Oct 16, and successfully restested as support.
While It is moving within an ascending channel, there may be overhead resistance at the daily (1.03).
This may fall in line with the top of the channel.
Next line of resistance is the weekly at 1.10.
Please see the bars pattern I have included in the chart.
Trade Safe Friends <3333
Note
Just a little update for everyone,MATIC broke out of the ascending channel, and the weekly level with significant volume.
What does this mean? bullish continuation.
What is the level to look for? The 1.618 Fibonacci Extention Level, which is also the Daily Level
Note
I should also share my EW count:Note
MATIC made a very nice move to the upside this weekHowever, has reached the 5th EW (according to my count), hitting the 1.618 fib extension level, it's daily high-term level
AND the 0.618 fibonacci retracement level from its ATH.
Confirmation, confirmation, confirmation!
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Note
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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.