Long
MATIC setting up for a break out!!!
MATIC has been in a downward 🐻 channel for 2 weeks since the huge spike 🚀. It may have found the bottom over 24 hours ago (3/25) with RSI making a bullish divergence (red line) along with price bouncing off the 200 EMA (orange) and support line of this downward channel.
RSI also seems to be breaking out of the downward trend line (green line).
In the mean time, MATIC price is currently in a uptrend channel on the hourly chart. If price breaks the 🐻 channel trend line at ~0.35-0.36 resistant zone (orange box, which it may initially bounce off), we may see more upside to the 3.8 to 4.0 zone.
Cheers and happy trading!!!
RSI also seems to be breaking out of the downward trend line (green line).
In the mean time, MATIC price is currently in a uptrend channel on the hourly chart. If price breaks the 🐻 channel trend line at ~0.35-0.36 resistant zone (orange box, which it may initially bounce off), we may see more upside to the 3.8 to 4.0 zone.
Cheers and happy trading!!!
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