Matic on the Edge: Can Support Hold or Will It Tumble?
Welcome back, crypto enthusiasts! Today's focus? Polygon MATIC, currently hovering around $0.77. And let me tell you, its price action is electrifying at the moment.
On the 4-hour chart, MATIC paints a bearish picture, but beneath the surface, an exciting possibility. The standard deviation levels -2 and -2.5 (roughly $0.75 - $0.71) could become a crucial demand zone. If buyers step in here, we might witness a bullish surge, even pushing MATIC back up to $0.85 - $0.9. Remember, this zone holds extra importance due to lurking sell-side liquidity at $0.72, ready to fuel the upward momentum.
Image displaying the first possible scenario.
However, failure to break above the -2 & -2.5 levels could trigger a deeper dive towards the SD -4 zone, potentially landing MATIC in the $0.63 - $0.61 range.
Image displaying the second scenario if first one fails.
The Takeaway:
MATIC stands at a crossroads. Will demand emerge at the crucial support zones, or will it tumble further? Keep your eyes peeled, folks, this week could be a rollercoaster ride!
Call to Action:
- Share your thoughts on MATIC's future trajectory in the comments!
- Follow me for more insightful crypto market analysis.
My wallet addresses:
Erc-20: 0xC5Df69400E283BF0A754269B3E4f1681F53A784f
Bep-20: 0xC5Df69400E283BF0A754269B3E4f1681F53A784f
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