Despite Bearish Market Polygon (MATIC) Still Testing Resistance Of Triangle As Support For Next Move

Despite Bearish Market Polygon (MATIC) Still Testing Resistance Of Triangle As Support For Next Move

By moon333 | moon333 | 11 Jan 2022


 

Hi dear friends, hope you are well and welcome to the new update on Polygon (MATIC).

A wedge and triangle:
On a weekly time frame Matic has broken out an ascending triangle and now it is testing the previous resistance of the triangle as support, moreover, it is also testing support of a huge rising wedge pattern. There is also a support of exponential moving average 21 below the priceline. Therefore, there is a very high probability for price action to start a bullish reversal move from here. This expected move can be at least upto the resistance of the wedge which is approximately at $3.30.

yseTDQLW

 

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Link for Binance exchange, to trade crypto:

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moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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