Quick look at MATIC
Updated
Here's a quick look at the two-day Magic chart. As we can see, the price has been oscillating within the bigger rising channel since June 2022, and if the price breaks below the channel, we should expect a move down to the red support zone.
For now, the price has to hold above the green support zone to avoid further downside. If the does break below the green support zone, a move to at least the bottom of the channel is expected - 0.9$ area.
Remember that the DXY is currently rallying, and if that continues, the total crypto market will bleed, and so will MATIC.
My opinion is that MATIC will probably come down to 0.3$-0.5$ before the end of the macro downtrend. - Trade safe!
Also, keep an eye ETH / BTC pair ;)
-------------------------------------------
Key Dates to Watch in March:
10 Mar: US Non-farm Payrolls
10 Mar: Mt. Gox Distribution
14 Mar: #CPI Data Release
15 Mar: #PPI Data Release
21/22 Mar: #FOMC Meeting
30 Mar: GDP Report
-------------------------------------------
What's a Fair Value Gap?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
For now, the price has to hold above the green support zone to avoid further downside. If the does break below the green support zone, a move to at least the bottom of the channel is expected - 0.9$ area.
Remember that the DXY is currently rallying, and if that continues, the total crypto market will bleed, and so will MATIC.
My opinion is that MATIC will probably come down to 0.3$-0.5$ before the end of the macro downtrend. - Trade safe!
Also, keep an eye ETH / BTC pair ;)
-------------------------------------------
Key Dates to Watch in March:
10 Mar: US Non-farm Payrolls
10 Mar: Mt. Gox Distribution
14 Mar: #CPI Data Release
15 Mar: #PPI Data Release
21/22 Mar: #FOMC Meeting
30 Mar: GDP Report
-------------------------------------------
What's a Fair Value Gap?:
A fair value gap is the difference between a financial instrument's theoretical value and market value, such as a derivative or security. It can indicate a misprizing opportunity for traders to profit by buying or selling at the misprized level. In other words, there is a gap in the price in which some open orders still need to be filled. The price will return to fill the orders.
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Note
Looks like 0.9$ is next:Note
Experience our top-tier setups with our Premium Group for only 129$ Lifetime membership!
🎖Telegram: t.me/MBM_786kr🎖
🎖Telegram: t.me/MBM_786kr🎖
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.