WILL $MATIC BOTTOM AT $0.37 BEFORE THE BULL RUN STARTS?
Polygon- A fundamentally strong ecosystem that has been bridging the gap between Web 2 and Web 3 by onboarding new users through various partnerships. MMATIC is the native currency in the ecosystem.
The answer to the question in the title is most probably. With this said, lets dive into the analysis below:
The current macroeconomy is bearish which limits the growth potential for majority of the asset classes including the Crypto market. This limitation results in fundamentally strong coins/ tokens to stagnate or decline in price. This enables us to position ourselves accordingly for the next bull run. Now we take a look at how we can position ourselves using technical analysis (Pure Price Action).
My confluences for expecting lower prices for MMATIC:
- The macroeconomy is looking bearish for the coming months.
- There is a clear Fair Value Gap between $0.60- $0.68 which will very likely be filled before any rally.
- There is Sell Side Liquidity below current price denoted by the $ sign that are attractive for smart money to raid.
- There is a Bullish Order Block that has not been tested as yet.
I will be looking to take full profit from any Short position I enter upon reaching that Bullish OB around $0.40. Long positions are set to be opened below $0.40 (preferably $0.37).
This is Not Financial Advice, this is for educational purposes only. With this said, Happy Trading Pals.
The answer to the question in the title is most probably. With this said, lets dive into the analysis below:
The current macroeconomy is bearish which limits the growth potential for majority of the asset classes including the Crypto market. This limitation results in fundamentally strong coins/ tokens to stagnate or decline in price. This enables us to position ourselves accordingly for the next bull run. Now we take a look at how we can position ourselves using technical analysis (Pure Price Action).
My confluences for expecting lower prices for MMATIC:
- The macroeconomy is looking bearish for the coming months.
- There is a clear Fair Value Gap between $0.60- $0.68 which will very likely be filled before any rally.
- There is Sell Side Liquidity below current price denoted by the $ sign that are attractive for smart money to raid.
- There is a Bullish Order Block that has not been tested as yet.
I will be looking to take full profit from any Short position I enter upon reaching that Bullish OB around $0.40. Long positions are set to be opened below $0.40 (preferably $0.37).
This is Not Financial Advice, this is for educational purposes only. With this said, Happy Trading Pals.
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