MATICBULLUSD trade ideas
Polygon (MATIC) x Total volume traded on UniswapAs per the bearish divergence from February 2021 to May 2021, this indicator has early signaled the top.
Now the traded volume is about to exit a bearish channel.
We also have an expansion wedge that is about to be broken along with the 50% retracement.
MATIC is not done yetMATIC is holding support at 0.93 which is the daily 0.236 fib retracement from recent high to low. Touched and help support on 4H lower Bollinger band
Once that yellow trendline is clear, MATIC should see another quick test to $1. Then the show begins... S/R flip of $1 will propel MATIC to $1.18 quickly with my main target of $1.30
Good Luck
MATICUSD ❕ an asset can exit from the downward channelVolumes show interest in price rising.
Price has tested and fixed above the 100MA (4H TF)
The asset has entered a bullish RSI zone (4H TF)
TD Sequential has formed an up reversal signal (4H TF)
I expect that MATIC may start rising if it gets out of the downward channel and fixes above the resistance level.
MATIC Triangle breakdownMATIC is consolidating in a triangle after making lower highs.
Monitor for a breakdown of the triangle support. 1 hour candle close below support and a retest rejection should indicate lower levels.
Short Targets are:
$0.75 (50% retrace from recent low to high)
if further breakdown...
$0.71
$0.65
Good Luck
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