Polygon: Your Altcoin ChoicePolygon has been bearish since early December 2024, same with most of the Altcoins market. This bearish period is coming to an end and I can say this based on two simple signals. A bullish divergence with the RSI and a falling wedge pattern.
The falling wedge pattern on its own can be doubtful because it can always extend. In fact, any signal in isolation can produce more harm than good. That is why I always look at a combination of signals to support my bias.
There is also a small volume breakout yesterday. This is a weak signal but when combined with the RSI bullish divergence and marketwide action, what the rest of the market is doing, it becomes a strong early signal.
➖ MATICUSD Daily RSI Bullish Divergence
Polygon's daily RSI hit bottom in early November 2024. Ever since, it has been producing higher lows. This makes it a very strong bullish divergence. MATICUSD has been moving lower and producing strong lower lows. This is the reversal signal. Polygon will soon grow.
Thanks a lot for your Altcoin Choice.
Namaste.
