MATIC wait for a breakout
MATIC Analysis:
MATIC is trading in the triangle and rejected from the downtrend line. The triangle is now heading towards the deciding zone. No trading opportunity at the current market price. Either wait for a breakout of $1.25 and only open a long position if it holds this point or waits for the retest of $0.97-$1.03 support zone. Keep an eye on the triangle and if it breaks down we will see a long downtrend in MATIC and the price may head towards the $0.5-$0.6 area.
MATIC is trading in the triangle and rejected from the downtrend line. The triangle is now heading towards the deciding zone. No trading opportunity at the current market price. Either wait for a breakout of $1.25 and only open a long position if it holds this point or waits for the retest of $0.97-$1.03 support zone. Keep an eye on the triangle and if it breaks down we will see a long downtrend in MATIC and the price may head towards the $0.5-$0.6 area.
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