MATIC Fundamentals + Bull Flag Play - PT $1.50

14 May 2021

Recently, energy has been cited as a concern for cryptocurrencies (IMO just FUD, but it only matters what people think), and Proof of Stake networks like ADA are in the spotlight for being eco-friendly. MATIC is just as eco friendly, being proof of stake, while supporting smart contracts along with a bit of ETH's network effect as a result of being a sidechain (AAVE, 1inch). MATIC could benefit from this out of the blue concern for the environment with respect to cryptocurrencies, as well as being a nice preview of ETH2.

Additionally, a nice clean bull flag has practically confirmed on MATIC with a price target of $1.53. MATICETH has been moving up in surges recently, and this could be another leg up.

14 May 2021

Not

Halfway to price target - hit TD 8 and is taking a short break.

15 May 2021

Not

Went exactly as planned, and more! The minimum price target of $1.53 was easily broken after a retest on a TD 9 and shot to 1.80. $1.82 is the next resistance, and past that is $2.12. I am still bullish on MATIC's potential.