A rejection here is bad news beras for Matic

Update on my prior post. Matic did indeed see a squeeze on the pendant formation from earlier. However, without enough strength and upwards momentum, it appears we may have an unsuccessful break through of local resistance point ~0.93 area; This combined with the poor narrative of Tornado Cash vs SEC could mark a failed breakout and a corresponding leg down. Watching $ETH and $BTC moves accordingly.

Kommentera:

Still tagging the resistance - no breakthrough move up with the rest of the market Still believe this is fundamentally bearish in nature - any further unsuccessful tags at res = further confirmation in my opinion

Kommentera:

Matic has successfully broken above past resistance and is currently trying to form new support; Watching for successful/unsuccessful testing of this level to follow; A quick rejection on the next daily could indicate bearish failure (downside to prior support