MATIC/USD - Facing resistance at $2.5! Still bullish... ð
MATIC pumped... HARD. We had a clean breakout at the end of April and ever since we have been pumping. Today we did *only* a 40% pump.
Not bad eh? However, we're facing some resistance at $2.5. Unlikely to push us lower in the short term considering the high volume, but the indicators do look a bit over extended... however they do not yet show any signs of losing strength.
Once on lower timeframes like 4h we get a bearish divergence, it is good to be careful because the correction can be severe after such a massive pump. I do not recommend buying here, rather taking some profit or waiting for the ascending support line to be retested. That can provide a good entry if we remain bullish.
For now the chart looks bullish, but be on guard!
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Not bad eh? However, we're facing some resistance at $2.5. Unlikely to push us lower in the short term considering the high volume, but the indicators do look a bit over extended... however they do not yet show any signs of losing strength.
Once on lower timeframes like 4h we get a bearish divergence, it is good to be careful because the correction can be severe after such a massive pump. I do not recommend buying here, rather taking some profit or waiting for the ascending support line to be retested. That can provide a good entry if we remain bullish.
For now the chart looks bullish, but be on guard!
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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Likes and follows appreciated! ð
