Polygon MATIC Crypto Price Analysis April 7, 2023
BINANCE:MATICUSDT
The MATIC/USDT pair has been consolidating inside a symmetrical triangle pattern, indicating that both buyers and sellers are uncertain about its future direction. The bulls are likely to defend the support line of the triangle, and if the price bounces off it, the pair may continue trading inside the triangle. However, if the price moves above the 20-day EMA, the bulls will attempt to break above the resistance line. Conversely, if the bears break below the support line, it could lead to a potential decline to the 200-day SMA.
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The MATIC/USDT pair has been consolidating inside a symmetrical triangle pattern, indicating that both buyers and sellers are uncertain about its future direction. The bulls are likely to defend the support line of the triangle, and if the price bounces off it, the pair may continue trading inside the triangle. However, if the price moves above the 20-day EMA, the bulls will attempt to break above the resistance line. Conversely, if the bears break below the support line, it could lead to a potential decline to the 200-day SMA.
Let me know what you think!
Follow me for more TA!
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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.