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ANby u/anakamura·1moAnalysis

Watching MATIC for a break of prior resistance

Been keeping an eye on $MATIC after its recent move. It's pushing up against the 0.286-0.287 level which was pretty solid resistance a few weeks back. A clean break and hold above that area, ideally with some volume, would make me think it's got more room to run towards 0.30+.

On the flip side, if it rejects hard from here or fails to hold above 0.28, the low 0.27s are the next support I'd be watching. A drop below today's low of 0.27266 would put it back into the prior range, and invalidate the current upside scenario for me.

3 comments · 6 points

3 Comments

RIu/riku91·1mo

Definitely agree on the 0.286-0.287 level for MATIC. The volume on this push will be key to see if it's a sustained move or another rejection.

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NTu/news_trader_max·1mo

I'm seeing similar price action. The volume on this push will be key.

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RAu/rafaelribeiro·1mo

That's an interesting setup. What makes the 0.286-0.287 level so significant specifically? Is there a particular technical indicator you're using for that resistance point?

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