MATIC - Buy the dip
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Whilst MATIC is currently in a downswing, it is still well within an ascending parallel channel (blue). The various EMAs confirm the bullish setup.
Right now, MATIC is hitting a support zone (green horizontal rectangle). It might well hold. If it doesn't, MATIC will likely fall to the bottom border of the ascending parallel channel at around $1.65. If that holds and the prices bounces off it to break the downtrend resistance line, that is a great opportunity to buy into the upswing. PT $3.15 (100% FIB extension).
So for now my advice is wait and see, but be ready to pounce and make some good $$$.
Right now, MATIC is hitting a support zone (green horizontal rectangle). It might well hold. If it doesn't, MATIC will likely fall to the bottom border of the ascending parallel channel at around $1.65. If that holds and the prices bounces off it to break the downtrend resistance line, that is a great opportunity to buy into the upswing. PT $3.15 (100% FIB extension).
So for now my advice is wait and see, but be ready to pounce and make some good $$$.
Commentaire
CORRECTION: TP is $2.76. $3.15 is a possibility but only in case of an extended rally (personally I wouldn't risk it).
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