MATIC inside rising wedge
Updated
#MATIC/USDT
MMATIC rejected from upper line of rising wedge pattern and heading down toward lower line that will be around $0.51.
🐻 break down from lower line of this wedge will drop price more to support zone around $0.35.
🐮 but holding the lower line that is the same with descending trend line and break out from upper line will increase price to higher trend line and resistance zone around $0.85.
MMATIC rejected from upper line of rising wedge pattern and heading down toward lower line that will be around $0.51.
🐻 break down from lower line of this wedge will drop price more to support zone around $0.35.
🐮 but holding the lower line that is the same with descending trend line and break out from upper line will increase price to higher trend line and resistance zone around $0.85.
Trade closed: target reached
#MATIC/USDT#update
MMATIC hold the lower line of wedge as support and pumped to broke out from upper line of wedge, and now faced a resistance zone.
🐮 possibly price will have a pullback to support zone around $0.6 and then will continue its rally to resistance zone between $0.8 and $0.9
🐻 break down from support zone will invalid bullish scenario and price can drop to descending trend line.
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.