MATIC Polygon Downward Price Target

Today I am reviewing the 1D (daily) chart for Polygon (MATIC) on a linear scale.

The price has been dropping with the overall crypto market dropping led by Bitcoin (BTC) and Ethereum (ETH).

I am showing the Fibonacci level of 0.382 around $1.17-$1.18, where the price may also meet the trendline (in red). This would be a 22% drop from current price levels.

Also keep an eye on the RSI ( relative strength index ) as we may have potential to get back to touch the trendline.

What are your opinions on this? I love reading your comments below.

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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk