Polygon(MATIC): Breakdown In Process!! Good To Short?

19 Jan 2024

This one caught our attention as well, with a full-scale breakdown happening right now in the local trend zone.

We are seeking a breakdown here to take full control of the trend where daily closes and secure that zone. It might be a really good opportunity here, for sure!

Swallow Team

20 Jan 2024

Nota

While yesterday's daily closed below major zones, we are seeing new daily to show some strength and a potential bounce from current zones.

We are still looking for a full-scale breakdown, so we need to wait and look for a cleaner breakdown (with confirmations).

21 Jan 2024

Nota

We did not have a full-scale breakdown where two daily candles showed us some strength, and now it seems to be pushing from that 100 EMA. We are monitoring closely for any potential weakness to kick in. If we do not see a clean movement here, we might be stuck near the current zones for some time. (If we see breakout, we will go for upper resistance; if we see breakdown, we will see lower zones to be claimed.)

22 Jan 2024

Nota

And after being rejected from 100 EMA, the price has been going for another attempt to break that lower trend and 200 EMA. There is huge potential here for sure for further movement to lower zones