MATIC/USDT forming W pattern WIth MACD bullish divergence
MATIC/USDT
💎 ParadiseSquad, let's turn our attention to MATIC/USDT. Currently, it's consolidating beneath the demand and supply zone on the 1-hour timeframe. Interestingly, it seems to have trapped breakout traders who entered at the breakdown of the demand zone.
💎 If these traders have placed their stop losses above the supply zone, a break above this zone could trigger a bullish move. The MACD is also indicating a bullish divergence, further supporting this potential upward shift.
💎 We're looking for a breakout above the supply zone at 0.6857. If this occurs, we could see targets reaching up to the next supply zones at 0.6982 - 0.7039. However, if it continues to consolidate under this area for an extended period, it may reduce the likelihood of our analysis playing out, and it might be better to stand aside.
💎 The 200 EMA is also close to the supply zone, which could make it challenging to break through the supply zone. However, once it does, we could see a significant upward movement. As always, stay alert and happy trading, ladies and gentlemen!
💎 ParadiseSquad, let's turn our attention to MATIC/USDT. Currently, it's consolidating beneath the demand and supply zone on the 1-hour timeframe. Interestingly, it seems to have trapped breakout traders who entered at the breakdown of the demand zone.
💎 If these traders have placed their stop losses above the supply zone, a break above this zone could trigger a bullish move. The MACD is also indicating a bullish divergence, further supporting this potential upward shift.
💎 We're looking for a breakout above the supply zone at 0.6857. If this occurs, we could see targets reaching up to the next supply zones at 0.6982 - 0.7039. However, if it continues to consolidate under this area for an extended period, it may reduce the likelihood of our analysis playing out, and it might be better to stand aside.
💎 The 200 EMA is also close to the supply zone, which could make it challenging to break through the supply zone. However, once it does, we could see a significant upward movement. As always, stay alert and happy trading, ladies and gentlemen!
Do you Want to start trading like a PRO?
Follow a team of traders with 10+ years of experience?
JOIN FREE👉 t.me/+IaNzEzXsdiBlNDg0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Follow a team of traders with 10+ years of experience?
JOIN FREE👉 t.me/+IaNzEzXsdiBlNDg0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.