Matic ; Falling wedge pattern
On 16 March, MATIC’s price squeeze ended as it broke out of the falling wedge, forecasting a 36% ascent to $1.95. Making this breakout interesting and adding a tailwind is the daily demand zone, extending from $1.15 to $1.36. Since the breakout, the crypto has rallied by 28% and at press time, was hovering above the $1.60-support level.
Going forward, MATIC’s price could undergo a minor retracement that retests the $1.64 barrier before embarking on its uptrend. The bulls are likely to retest the target at $1.95, but in some cases, the rally might extend to the $2-psychological level. Such a move would push the total gains from 36% to 48%.
Going forward, MATIC’s price could undergo a minor retracement that retests the $1.64 barrier before embarking on its uptrend. The bulls are likely to retest the target at $1.95, but in some cases, the rally might extend to the $2-psychological level. Such a move would push the total gains from 36% to 48%.
Penafian
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