Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Polygon [MATIC] has been moving sideways for the past seven days MATIC could fall to $0.7692 or lower but a breakout above the $0.8154 range would invalidate this bias Polygon [MATIC] has been trading […]
fell below $16.83K, only to recover slightly with a mildly bullish BTC. If BTC declines over the Christmas weekend and also the following week, MATIC could fall to $0.7692 or lower.The press time sideways structure of MATIC was similar to the previous one between early and mid-December. The only difference was that the first had higher volatility than the second. With BTC trading sideways at the time of writing, MATIC could continue to trade in a range or break out below it.
Nevertheless, the RSI was far below equilibrium and could be interpreted as an advantage for the sellers. Therefore, MATIC could fall as low as $0.7692. $0.7575 or $0.7392. These levels can serve as a short-selling target, with a stop loss slightly above $0.8154.
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