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Matic




MATIC Retraces From ATH as Crypto Sells Off-MATIC fell -23% from high as Tesla reverts BTC support -Major support comes in at $0.925 -MACD signaling more downside may come MATIC has had an awesome last month as price rose over 300%. MATIC hit an ATH of $1.22 but shortly after fell as the entire market took a hit. MATIC has risen drastically and now may be the time to be concerned of large potential retracement. The large bold trends represent a broadening wedge that has formed over the last week. The pattern can be either bullish or bearish as a breakout of either trend will produce a large parabolic move. As seen on the chart, MATIC just has a rejection on its top trend line. If price can’t hold minor support of $1.02, expect a pullback to major support of $0.92. During the fast decline price bounced perfectly off the 30MA. This level is met with major support of $0.92 and if these levels break down, expect a retracement to $0.84. In the case bulls gain more strength, the level to break and hold is $1.17. While looking at the MACD we can see a bearish cross is impending. The histogram confirms this as its about to tick red after a long bull streak. The stochastic is heading down nearing the 50 level. If this fails to hold we can confirm more retracement is ahead. 
 MATIC intraday levels Spot rate: $$1.03 Trend: Bullish Volatility: High 
Support: $1.02 Resistance: $1.17
M
by CoinGape