An intriguing development has emerged for Polygon (MATIC). An analyst points toward a notable buy signal showcased on the MATIC weekly chart via the TD Sequential indicator.
Read CRYPTONEWSLAND onThis signal is being interpreted as a precursor to a potential upswing in Polygon’s trajectory, spanning over the course of one to four weeks. This revelation comes amidst MATIC’s recent sideways trading pattern, which has seen the digital asset struggling to breach the $0.768 resistance level.
Such stagnation mirrors the broader sentiment surrounding Ethereum, especially amid uncertainties stemming from the Spot ETH ETF. The market’s hesitancy to signal a decisive recovery has contributed to prolonged lateral movement in MATIC, a trend observed since mid-April.
Analyzing MATIC’s price performance throughout the last six weeks exposes a recurring fluctuation between the $0.768 and $0.64 horizontal thresholds. This seesawing motion highlights an absence of decisive influence from either buyers or sellers. Yet, delving deeper into the daily chart discloses a pivotal observation: MATIC’s consolidation is taking place above the supportive trendline of a symmetrical triangle pattern.
Traditionally, such chart patterns suggest a phase of accumulation, wherein the prevailing trend gathers momentum before embarking on a bullish trajectory. This sentiment is echoed by market observers who anticipate a potential uptrend for Polygon, buoyed by the promising signals detected on the weekly chart. Should this analysis hold true, MATIC could potentially break past its overhead resistance, marking a significant trend reversal.
Delve into #BlockDAGKeynote2, revealing an innovative roadmap and a stunning 30,000 X return potential. Track…
Ripple scored a major court win in California, yet the judge’s ruling on $XRP as…
BlastUP, a leading launchpad on the #Blastblockchain, has just closed its presale with a stunning…
Discover the #MoonBagprice marvel in the crypto sphere! Amidst a bearish outlook for #MATIC and…
Discover how #BlockDAG's X10 miner has skyrocketed to $54.4M in presales, overshadowing #Polkadot’s dip and…
The #cryptomarket is on the verge of a significant upswing. Experts predict a #BullRun and…