✴️ Looking Into Polygon's Correction To A New Higher High
Polygon's correction, MATICUSDT, has been going now for more than three months.
The total drop amounts to 48% from Febs peak price to May's low.
The current price is trading below the 0.786 Fib. retracement level support...
A very strong correction by all standards but MATICUSDT continues trading within a higher low (compared to its late Dec. 2022 low).
Hidden bullish divergence on the RSI.
Very low bear volume on the last low with the session,12-May, closing green.
Looking at Litecoin and Lido, for comparison, we can start to speculate that the correction low is more likely than not to be in.
The low volume is quite telling.
The entire correction phase, 90 days, produced very little volume compared to the bullish wave, 49 days...
These are bullish signals.
A higher low can lead to a higher high... Patience is key, but what comes next will be twice what we saw in late January... It is about to get good.
Namaste.
The total drop amounts to 48% from Febs peak price to May's low.
The current price is trading below the 0.786 Fib. retracement level support...
A very strong correction by all standards but MATICUSDT continues trading within a higher low (compared to its late Dec. 2022 low).
Hidden bullish divergence on the RSI.
Very low bear volume on the last low with the session,12-May, closing green.
Looking at Litecoin and Lido, for comparison, we can start to speculate that the correction low is more likely than not to be in.
The low volume is quite telling.
The entire correction phase, 90 days, produced very little volume compared to the bullish wave, 49 days...
These are bullish signals.
A higher low can lead to a higher high... Patience is key, but what comes next will be twice what we saw in late January... It is about to get good.
Namaste.
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