After the $ 0.298 breakout last week, MATIC almost doubled in value, went for a correction. This decline continued its movement in a horizontal field before going deeper. The asset that experienced short fluctuations at certain intervals indicated its consolidated status.
Given the movement of the local summit so far, a new trend path appears. The movement brought about by the consolidated situation states that it is in a narrowing triangle. A top tear in the coming hours will have a chance to bring a trend above this triangle. Also, the model formed in the form of this flag brings the opportunity to jump the MATIC price by 40%.
The asset currently stands at $ 0.39. For this model to work, the first thing to happen is breaking the 0.406 resistance. But there are about 6,000 investors who store 450 million MATICs in their wallets between 0.39 and 0.41 dollars. This high volume, its presence will be enough to cause a rapid drop in price in selling pressure.
P.S: This is not an investment advice
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