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MATICUSDT → Breaking through triangle resistance

2024-02-27 08:29 CRYPTO forecast

💡 Ideas For MATICUSDT 🟣

📈 MATICUSDT → Breaking through triangle resistance

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MATIC is forming an attempt to change the trend. The price is testing the resistance area of the descending triangle. A consolidation above the key level may start a strong distribution

snapshot

MATIC price is still in a bearish trend amid a strong cryptocurrency rally. For the last few days, the coin has been forming a resistance retest and is currently consolidating above 1.0303, a level that now plays a key role. If the bulls consolidate their positions above this level, they will form a potential for further growth of 20-50%. The first target is 1.1990, then 1.5490. On the weekly timeframe we see that the price realizes growth inside the range, the target of which is resistance.

Support levels: 1.03030, 0.9849

Resistance levels: 1.1990, 1.5496

The coin is breaking the resistance, but it is still under the pressure of sellers. If buyers consolidate their positions above 1.0303, form the so-called local bottom, strong growth awaits us in the medium and long term

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