Triangle's upper boundary
MATIC is currently trading within a tight range, establishing consistent highs and lows. The price is forming a large triangle pattern, indicating a period of consolidation. It is nearing the apex, suggesting that a significant move may be imminent. The upper boundary of the triangle acts as a crucial resistance level. Price action near this level should be closely monitored for potential breakout signals.
The lower boundary of the triangle provides strong support. Any movement towards this level could be an opportunity to assess the strength of the support.
A breakout above the triangle's upper boundary could lead to a significant upward move. Conversely, a breakdown below the lower boundary might result in a downward trend.
The lower boundary of the triangle provides strong support. Any movement towards this level could be an opportunity to assess the strength of the support.
A breakout above the triangle's upper boundary could lead to a significant upward move. Conversely, a breakdown below the lower boundary might result in a downward trend.
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