MATIC, Huge Broadening-Wedge to Setup Massive Pump Potential!

Hello Community,

Only 2 days remain till the new year of 2023 emerges and the cryptocurrency market is showing important structures to watch out for during this time as there are many altcoins within the market building interesting setups these are conditions worthwhile to look at for traders and investors starting into the new year of 2023. As I analyzed the cryptocurrency market I found picked altcoins with pump potentials and amazing setups developing to unfold this potential. One of the altcoins is Matic and in this case, I am looking at the price structure and what should be considered looking forward to future trading sessions.

When looking at my chart now we can watch there how Matic is building several significant structures and the most stunning one is the main broadening wedge Matic is forming above the crucial ascending trend line serving as support. Within the broadening wedge formation, Matic has a coherent wave-count which is almost completed now with the waves A to D already finished, and now with the completion of the wave, E Matic is approaching this central support cluster marked in green in my chart where several supports are coming together concentrated into one point. This means once wave E has been finished Matic has an intensely high possibility to bounce within this support cluster zone.

Taking all these factors into the consideration now the determining developments will happen once Matic has finished the wave count and bounced within the support cluster with a high possibility and once this happened with Matic finally bouncing above the upper boundary of the broadening wedge formation it will be the setup of completion for the broadening wedge with Matic activating further continuations in the trading sessions and in this case the dynamic support zone marked in blue in my chart will be activated. Once these targets have been reached and Matic manages to increase volatility significantly there is still room for further continuation, it will be an interesting journey ahead.

In this manner, thank you everybody for watching. Let's move forward together.

The information provided is only educational and should not be used to take action in the markets.