WILL $MATIC BOTTOM AT $0.37 BEFORE THE BULL RUN STARTS?Polygon- A fundamentally strong ecosystem that has been bridging the gap between Web 2 and Web 3 by onboarding new users through various partnerships. $MATIC is the native currency in the ecosystem.
The answer to the question in the title is most probably. With this said, lets dive into the analysis below:
The current macroeconomy is bearish which limits the growth potential for majority of the asset classes including the Crypto market. This limitation results in fundamentally strong coins/ tokens to stagnate or decline in price. This enables us to position ourselves accordingly for the next bull run. Now we take a look at how we can position ourselves using technical analysis (Pure Price Action).
My confluences for expecting lower prices for $MATIC:
- The macroeconomy is looking bearish for the coming months.
- There is a clear Fair Value Gap between $0.60- $0.68 which will very likely be filled before any rally.
- There is Sell Side Liquidity below current price denoted by the $ sign that are attractive for smart money to raid.
- There is a Bullish Order Block that has not been tested as yet.
I will be looking to take full profit from any Short position I enter upon reaching that Bullish OB around $0.40. Long positions are set to be opened below $0.40 (preferably $0.37).
This is Not Financial Advice, this is for educational purposes only. With this said, Happy Trading Pals.
