MATIC/USDT: On Buying area, Direct rise expected

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

MATIC/USDT: On Buying area, Direct rise expected

Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets MATIC suffered about negative global market situation.
- However we are focus on a key buying area now on this coin and we expect a fast and quick recovery regarding technical elements provided by the interpretation of the Elliott waves.


Market configuration

- Graphical Elements :
Graphical Resistance = 1,13 & 2,90
Graphical Support = 0,41 & 0,042

- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market at 1,13 = Bearish
RSI indicator (below) is bouncing off key support, a break above 50% + bearish trend line will propulse the bullish momentum = Bullish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target C (B) has been already reached = 0,65
Fibonacci resistance of the wave in progress = 1,13
Fibonacci support of the wave (c) (B) (max extension) = 0,41 (auto-similar move)
Fibonacci Bullish Target = 1,99


Conclusion

Preferred case => Regarding the mid-term element, MATIC is offering the perfect entry area for a mid-term portfolio configuration in order to anticipate a bullish exit towards 1,13 and 1,99 as long as 0,41 remains support - In extension a larger rise towards the previous top at 1,99 can't be ignored

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View still valid - max excess at 0,32

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