Matic Chart Review and Update ?

in matic •  2 months ago 

MATIC chart update

Matic 8H Chart


Matic Chart Published By Philosof at Tradingview

Educational post. MATIC has super narrow channel. Many coins have similar charts now. Those who bought wait for higher price to sell, while those who sold, won't buy back until price drop down at least to 164 (better ~150).

When volatility starts, if price grow up, sellers will buy back in fomo. If price go down buyers will sell off in fear. Once price reach nearest SR level, buy/sell orders trigger and price bounce back to level of break out/down. If amount of orders will not overweigh those in fomo/fear, price will continue moving in started direction.

So when such a narrow channel forms, we may expect strong impulse move in one of directions, with high chances of breakout through nearest support or resistance zone.

Support: 168 - 164 - 154 - 149
Resistance: 175 - 185 - 191 - 196



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