Proceed with caution. MATIC seems to have closed below the lower support trendline on the hourly scale. Watch out for a re-test of this support, but we could be on our way to $1.75 - $1.85.
I expect to see at least another bounce between 1.50 and 1.60 before a larger move is made. It looks like we broke out of a triangle and are moving sideways on the 1H chart.
I think the lowest we will see for a good while is in the $1.30 - $1.35 range, but we might jump back to $1.72 and encounter some resistance.
Based on the high ADX and -DI indicators on the 4H...
We seem to be experiencing higher highs and higher lows over the course of the last couple of days, and the support around the $1.87 - $1.88 has held fairly consistently. We may continue that upward trend in parallel channel, but will be break through the $1.96 - $1.98 resistance?
