MATIC seems to have reached support
BINANCE:MATICUSDT
After trading near the resistance line of the symmetrical triangle pattern, Polygon turned down and reached the support line. The flattening 20-day EMA ($1.13) and RSI below 50 suggest that the bulls may be losing their advantage.
If the price breaks below the support line, the short-term advantage may tilt in favor of the bears, and the MATIC/USDT pair could collapse to the 200-day SMA (
1). A break and close above the resistance line would signal strength and could potentially lead to a rally to $1.30.
Let me know what you think!
Follow me for more TA!
After trading near the resistance line of the symmetrical triangle pattern, Polygon turned down and reached the support line. The flattening 20-day EMA ($1.13) and RSI below 50 suggest that the bulls may be losing their advantage.
If the price breaks below the support line, the short-term advantage may tilt in favor of the bears, and the MATIC/USDT pair could collapse to the 200-day SMA (
1). A break and close above the resistance line would signal strength and could potentially lead to a rally to $1.30.Let me know what you think!
Follow me for more TA!
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