Lokesh Gupta
08-03-2024
Matic has exhibited an impressive recovery over the month, particularly bouncing off the $0.69 level.
The token underwent a strong breakout after consolidating for over a year, indicating potential for a significant uptrend.
Since being rejected from its long-term all-time high (ATH), the $MATIC price has been trading along a descending trend line.
On the daily chart, #Polygon is within a Descending channel pattern.
An ascending support line has provided stability during bearish pullbacks and supported a strong rebound.
The recent rebound enabled the price to break through upper resistance, signaling the start of a new bullish trend, reminiscent of the 2021 bull run's beginning.
The weekly chart suggests a similar pattern to the 2021 bull run, with the price breaking above a decisive triangle.
According to Coingabbar Price Analysis, Bulls need to maintain levels above $1.15 and close the weekly trade above these levels for continued bullish momentum.
KEY LEVELS :
RESISTANCE LEVEL : $3.0000-$6.0000
SUPPORT LEVEL : $0.5000-$0.0500
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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