๐ฅ MATIC Ideal Reversal Point: Bullish Channel
MATIC has been one of the better performing alts over the last couple of weeks. With the most recent bearish move, MATIC is closing in on a perfect reversal area, which is the yellow marked area on chart.
An oversold RSI combined with a strong support might cause MATIC to bounce and resume it's longer-term bullish path. Top resistance of the channel is the bullish target.
However, since we get a lot of macro news this week we might see more bearish price action. In case of the price falling through the support, see the blue lines for bearish targets.
An oversold RSI combined with a strong support might cause MATIC to bounce and resume it's longer-term bullish path. Top resistance of the channel is the bullish target.
However, since we get a lot of macro news this week we might see more bearish price action. In case of the price falling through the support, see the blue lines for bearish targets.
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