MATICUSDT → Breakout figure and an attempt to change the trend
BINANCE:MATICUSDT breaks through the resistance of the key figure and opens a new bullish potential. If the nearest resistance is broken through, the price can form a strong momentum.
Earlier we saw an attempt of strengthening, which smoothly changed from an ascending price channel to a bearish wedge. The latter figure is quite capable of breaking the trend and changing it, for this in our case, the price needs to pass through the resistance of 0.7440.
Recently cryptocurrencies, both bitcoins and altcoins, start to recover, and there are even some fundamental reasons for that.
The moving averages act as resistance, but at the moment the MA-50 is being tested and in case of a breakout the 31% range will open, which is quite an interesting prospect for us.
Support levels: 0.6500
Resistance levels: MA-50, 0.7440
I expect consolidation near resistance, followed by a breakout and bullish momentum. The medium-term target is 0.9700.
Regards, R. Linda!
Earlier we saw an attempt of strengthening, which smoothly changed from an ascending price channel to a bearish wedge. The latter figure is quite capable of breaking the trend and changing it, for this in our case, the price needs to pass through the resistance of 0.7440.
Recently cryptocurrencies, both bitcoins and altcoins, start to recover, and there are even some fundamental reasons for that.
The moving averages act as resistance, but at the moment the MA-50 is being tested and in case of a breakout the 31% range will open, which is quite an interesting prospect for us.
Support levels: 0.6500
Resistance levels: MA-50, 0.7440
I expect consolidation near resistance, followed by a breakout and bullish momentum. The medium-term target is 0.9700.
Regards, R. Linda!
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