Polygon (MATIC) technical analysis: Symmetrical Triangle

MATIC is currently trading in a symmetrical triangle with a clear buildup—creating two distinct lower highs AND higher lows that took several month to form. I foresee a bullish continuation (higher timeframe is in an uptrend) and since the price is trading above the 200MA, I consider a long position.

Wait for the price to break above the triangle (candle close 4h) or wait for a pullback to occur (e.g. bull flag pattern) or a potential re-test) before entering this trade.

This is a golden opportunity!

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Cheers.

Kommentera:

Matic is close to breaking out this triangle!

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