MATIC/USDT: Anticipating Bull Journey After a Corrective Phase ?In this technical analysis, we will examine the MATIC/USDT trading pair's recent price action and chart patterns.
1. Resistance Area - 0.8000-0.8150:
MATIC/USDT has been facing a significant resistance area around 0.8000-0.8150. Multiple attempts to break above this zone have resulted in pullbacks. Traders should closely monitor this level as a successful breakout could trigger a bullish rally. .
2. Expected Corrective Phase and Potential Buying Zone - 0.5500-0.6000:
Based on our analysis, we anticipate a corrective phase for MATIC/USDT in the near term. This retracement could find support around the 0.5500-0.6000 region, a crucial buying zone.
Traders looking to enter long positions may find this level attractive as it aligns with historical support and offers a favorable risk-to-reward ratio.
3. Continuation of Higher Lows Patterns and Liquidity Sweep:
Despite the resistance, MATIC/USDT has been forming higher lows, indicating potential bullish momentum. However, before resuming its upward trajectory, the price might perform a liquidity sweep towards the 0.5500-0.6000 support zone.
Such a move is a common occurrence in crypto markets and should not be mistaken for a trend reversal.
Conclusion:
In conclusion, MATIC/USDT presents an intriguing trading opportunity for followers of our Trading View ideas. The resistance area of 0.8000-0.8150 and the expected corrective phase towards 0.5500-0.6000 make for crucial decision points. Traders should exercise patience, wait for confirmation signals, and manage risk effectively for potential gains towards 0.9000 and beyond.
