Follow us on:


This Layer 2 Is PUMPING!

This Layer 2 Is PUMPING!
This Layer 2 Is PUMPING!

Polygon’s Matic has been making impressive moves in recent weeks, testing retracement areas on the weekly timeframe while finding support on the daily timeframe with SMAs and EMAs, particularly on the 4-hour timeframe.

Trade Entry and Analysis

Following a successful trade entry on November 29 with an 11.3% push to the upside, the price action analysis for Matic reveals an impulsive move structure, suggesting the potential for another impulsive push to the upside. This is evident in the 4-hour timeframe wave pattern analysis, where Wave 1, Wave 2, and ongoing Wave 3 are identified, along with the possible targets for the current wave.

Daily Chart Overview

The daily chart shows a retracement, with the stochastic indicator suggesting a potential correction to the downside. Matic has lost the 50 EMA and is testing the 50 SMA, which are crucial levels for bulls and bears.

Long-Term Outlook and Trading Strategy

The weekly close position analysis shows potential struggles between bulls and bears, and the stochastic on the daily chart indicates room for a downside correction. There is speculation about a possible retest of the bear market low. To navigate this volatile market, cautious trading is essential, with tight stop-loss and prudent risk management. The success of Discord members and the overall positive sentiment provide encouragement.

Conclusion and Call to Action

Despite the potential for a correction, the outlook for Matic remains optimistic, and Discord members’ success is acknowledged. Staying informed, trading safely, and engaging with the content are encouraged for continued success in the cryptocurrency market.

Leave a comment

Your email address will not be published. Required fields are marked *