Polygon #MATIC Update (Jul-06)
Indeed, MATIC has fallen too sharply in May and now it is looking for a way to recover. As evidenced by the strong buying back on June 19 and helped MATIC rise sharply from $0.3 to $0.6, this buying force is quite unusual and it shows the overwhelming strength of the money flow.
Currently, MATIC continues to face a big problem that it has to hold the $0.50 zone. It has just conquered this zone and only if it does not lose this zone will it continue to have a similar rally on June 19 and break out of the current Broadening Falling Wedge pattern to move towards the $0.75 zone. Breaking through the $0.75 zone at this point is very difficult and let's wait for a further target.
However things will get very bad if it loses $0.5 zone back, it might crash because of the pressure of profit taking on LONG positions of the last June rally and it will fall very hard with The target could be the $0.20 zone in just a few days.
Currently, MATIC continues to face a big problem that it has to hold the $0.50 zone. It has just conquered this zone and only if it does not lose this zone will it continue to have a similar rally on June 19 and break out of the current Broadening Falling Wedge pattern to move towards the $0.75 zone. Breaking through the $0.75 zone at this point is very difficult and let's wait for a further target.
However things will get very bad if it loses $0.5 zone back, it might crash because of the pressure of profit taking on LONG positions of the last June rally and it will fall very hard with The target could be the $0.20 zone in just a few days.
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