As it can be seen from the chart, so far matic has respected all the rules of the elliott theory. This can be invalidated if corrective waves 4 prolongs far deep into territory of impulsive wave 1. OBV shows strong buying in the background by smart money on the daily timeframe (creating an exaggerated divergence). EFI is closing in on positive terroritory confirming an imminent move upward. TRIX formed a higher low despite price making a double bottom as part of corrective wave 4.
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Still on track for this. Best is yet to come!
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beautifully above all MAs on daily. Looking very very good.
As we can see fisher and mean reversion have been in uptrend for few weeks.
DMI is in bullish territory, the gaussian channel turned green too.
Matic is an absolute chance at a low risk at the moment.
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Really trying to breakout now. Price is still sitting nicely above main MAs which have all converged. This is suggesting a strong move upward incoming.
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Cup and handle pattern. also price sitting above the 200-ma on the daily chart, very bullish.
@lamekan, I think that Matic doesn't have much resistance to the upside so when it goes up it does with strenght. Marketcap is small too so there is plenty of room to grow. What concerns me as of now is that it is not moving with the rest of the alts (which are dumping today) nor the other IEOs. As long as it doesn't have a sharp correction after in the next days (week) then this should be wave 5.