Polygon (MATICUSD): EXTREME Potential Long-Term Opportunity

19 Oca

Matic presents a similar narrative to PolkaDot DOTUSDT . Since the low, marking our Wave (2), we find ourselves engaged in an overarching Wave (3). Currently, we're contemplating a completed Wave 1 scenario, and the path ahead entails a Flat correction for Wave 2.

This Wave 2 correction is anticipated to pivot between 50% and 78.6%. A breach beyond the 78.6% level could lead to a decline towards the $0.50 mark. If this level is breached, further downward movement may unfold, painting a bearish scenario.

Nevertheless, a positive turn within this range could pave the way for an upward journey towards $2.50. :stock_up:

We possible could never see this opportunity and price ever again. So load up your bags!

4 Şub

İşlem aktif

We're eyeing a particularly interesting chart: Polygon BINANCE:MATICUSD.

On the daily chart, we're observing a very discernible cycle. While we've certainly seen very impulsive upward and downward movements in our last bull market, we've been convinced since the summer of 2022 that we completed a downward correction and have since developed a Wave (1) and (2) with an overshooting B, now finding ourselves in the overarching Wave (3). This should, at a minimum of $2.

🔎 Zooming into the 4-hour chart, we've hit our 50% retracement limit order for the subordinate Wave 2 at $0.74, witnessing a very nice correction to this limit order. On closer inspection, we have an Expanded Flat with Wave B at 138%, which is the maximum for an overshooting Wave B. Thus, this scenario seems to be accurate.

📉 However, there's always a chance that we might dip again, possibly retesting the 50% or even the 61.8% levels. Yet, we should ideally not drop below our 78.6% mark, which is our $0.60 level. Falling below this would make it highly unlikely that we're still dealing with a Wave 2, and should we fall under the 78.6%, we must consider the possibility of a decline to the origin point X, $0.49.

28 Şub

Not

Polygon (MATICUSD): BINANCE:MATICUSD

The entire cryptocurrency market is currently experiencing a parabolic upward trend. This includes MATIC, which continues to see upward momentum. It seems that Bitcoin is driving this trend, and we anticipate that at some point, Bitcoin's strength will need to stabilize in terms of dominance, allowing altcoins to perform. It's not entirely clear when this will occur. Currently, we are 47% in profit since our entry into Matic, moving towards the level of $1.08, which is our Wave (b). Surpassing this will bring us to our first significant challenge, the red zone, on a broader scale. However, we are in the midst of Wave 3 in red, which has a substantial upside potential. We expect that Polygon has a lot of space to grow, with a minimum target of $2.50. This would represent a 240% increase from our entry price.