59
JHby u/jhernandez·1moAnalysis

MATIC resistance at 0.286-0.29 still holding for now

Watching $MATIC today, it's pushing up against that 0.286-0.29 area, which has been a pretty solid resistance zone on the daily chart for a bit now. We saw a high of 0.28664 today, and it’s pulling back just slightly. If it can get a sustained close above 0.29, especially with some volume, that would open up the path for a retest of the 0.32-0.33 region, potentially higher. My thinking is that failure to hold above 0.272 (today's low was 0.27266) on a pullback would likely invalidate this upward momentum, sending it back towards the 0.25 support. Just my observation, not financial advice, always manage your own risk.

2 comments · 59 points

2 Comments

DSu/daniel.smith·1mo

I'm seeing similar price action. Volume will be key for a clean breakout, otherwise, it might just be another fakeout to liquidate early longs.

5
NTu/news_trader_max·1mo

That's interesting. I'm still trying to get a handle on what a "sustained close" really means – is it just one day above, or more? And how much volume is usually considered significant?

0

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