Short
Is Polygon MATIC doomed?
BINANCE:MATICUSDT
Polygon is making efforts to initiate a recovery that could reach the breakdown level at $0.94. However, strong defensive measures from the bears are expected at this level. If the price turns down from $0.94, it would indicate that the bears have transformed this level into a resistance zone. They will likely attempt to further solidify their position by pulling the MATIC/USDT pair below $0.81, potentially leading to a decline towards $0.69.
Conversely, if buyers successfully drive the price above $0.94, it would signify robust buying at lower levels. The pair may initially rise towards the 50-day SMA ($1.03) and subsequently attempt a rally towards the resistance line.
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Polygon is making efforts to initiate a recovery that could reach the breakdown level at $0.94. However, strong defensive measures from the bears are expected at this level. If the price turns down from $0.94, it would indicate that the bears have transformed this level into a resistance zone. They will likely attempt to further solidify their position by pulling the MATIC/USDT pair below $0.81, potentially leading to a decline towards $0.69.
Conversely, if buyers successfully drive the price above $0.94, it would signify robust buying at lower levels. The pair may initially rise towards the 50-day SMA ($1.03) and subsequently attempt a rally towards the resistance line.
Let me know what you think!
Follow me for more TA!
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.