MATIC is a beast. Up over 600% since mid May
MATIC is an interesting coin.
You can see from the common patterns it's formed, it appears to be quite a predictable coin. Bull flags have ended with breakouts. Bear flags have ended with a fall. Currently trading at 0.03c or 393 sats. We have very limited data and nothing in the current ranges to build levels from, so FIBs are probably best bet, or you can follow the chart patterns it continues to form, between parabolic periods.
As a comparison purely between circulation and price of other coins. I like considering things from supply and demand point of view.
Coin / Circulation / Current price
Ravencoin - 3,580,425,000 - $0.05
NEM - 8,999,999,999 - $0.08
Stellar - 19,264,708,627 - $0.13
Cardano - 25,927,070,538 - $0.83
At this point, no logical thinking trader would FOMO into this thing. When MATIC, reverses it should be quite a lengthy pull back. But I like that the movements seem to follow predicable 'as expected' common chart patterns' and will look for a lot more opportunities to score wins with this coin in the future.
- Backed by Coinbase Ventures
- Since early May, it's up over 600%
- Fairly high circulation of 2,160,114,068
- Highest BTC paired volume on Binance by a long shot
You can see from the common patterns it's formed, it appears to be quite a predictable coin. Bull flags have ended with breakouts. Bear flags have ended with a fall. Currently trading at 0.03c or 393 sats. We have very limited data and nothing in the current ranges to build levels from, so FIBs are probably best bet, or you can follow the chart patterns it continues to form, between parabolic periods.
As a comparison purely between circulation and price of other coins. I like considering things from supply and demand point of view.
Coin / Circulation / Current price
Ravencoin - 3,580,425,000 - $0.05
NEM - 8,999,999,999 - $0.08
Stellar - 19,264,708,627 - $0.13
Cardano - 25,927,070,538 - $0.83
At this point, no logical thinking trader would FOMO into this thing. When MATIC, reverses it should be quite a lengthy pull back. But I like that the movements seem to follow predicable 'as expected' common chart patterns' and will look for a lot more opportunities to score wins with this coin in the future.
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