Polygon MATIC stuck between a rock and a hard place $0.99-$1.11?
BINANCE:MATICUSDT
Polygon's support line of the symmetrical triangle pattern is under threat by the bears.
A successful attempt would signal that there is an excess supply of MATIC tokens relative to demand. In such a case, the MATIC/USDT pair could drop towards the crucial 200-day SMA ($0.99). If this level is breached, the pair may begin a downtrend.
Alternatively, if the price rebounds from the current level and surpasses the 20-day EMA ($1.11), it will suggest that the bearish breakdown was a false signal. The pair may then try to move beyond the triangle's resistance line.
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Polygon's support line of the symmetrical triangle pattern is under threat by the bears.
A successful attempt would signal that there is an excess supply of MATIC tokens relative to demand. In such a case, the MATIC/USDT pair could drop towards the crucial 200-day SMA ($0.99). If this level is breached, the pair may begin a downtrend.
Alternatively, if the price rebounds from the current level and surpasses the 20-day EMA ($1.11), it will suggest that the bearish breakdown was a false signal. The pair may then try to move beyond the triangle's resistance line.
Let me know what you think!
Follow me for more TA!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.