🔥 MATIC Still In A Down Trend: For How Long?

٣ مارس ٢٠٢٢

Since December, MATIC has been trading in a clear down trend, adhering to the bearish dotted trend line. However, during the last few days there seems to be an uptick in bullish sentiment across the markets. Will it be enough to change the longer-term trend?

The yellow indicated area is going to be of great importance. If we manage to break out bullish, there's a clear path towards $2 and beyond. However, since the markets are still distressed, there's a decent probability that MATIC will reverse and trade bearish again. Keep a close eye on BTC for the general direction of the trend.

Happy trading!