1D chart: At present, MATIC takes support and resistance at 1.3121 as the key price. After MATIC fell below the inverse cup and handle pattern (below 1.3121) in April last year, the lowest price reached 0.3157. After that, the price appeared higher low and higher high, and there was a situation of breaking through the resistance of 1.3121. Pay attention to whether MATIC is effectively supported by the support trend line below. If the support trend line is broken, a bear flag pattern will appear. - 4 hr chart: In the 4 hr chart, MATIC has shown a triangle convergence pattern and has broken the resistance trend line. Pay attention to the previous high of 1.2507 and the stop loss price of 1.0239. If there is a breakthrough of the previous high of 1.2507, there is a chance to challenge the resistance of 1.3121 again. -
Nota
After MATIC fell below the trend line, the price reached the Fibonacci sequence support of 0.382 (1.0594). Pay attention to whether MATIC will have a bottom pattern here. If the price falls below 1.0594, there is a chance to reach 1.0239 (stop loss price).
Nota
MATIC has reached the stop loss(1.0239), and if it breaks below the support trend line, a large bear flag pattern will appear. Pay attention to several support prices: 0.8856~0.9421 0.7943 0.7014~0.7467 0.6274 0.5534 0.3137 - It can be seen from the 1D chart that MATIC stepped back on the Fibonacci sequence of 0.5 and 0.618 during the decline. If there is a bear flag pattern, the target price can be set as the Fibonacci sequence 1.5 (0.6274) and 1.618 (0.5534). -
Nota
After MATIC broke below the trendline support and formed a bear flag pattern, a diamond pattern appeared. The diamond pattern means that the price is consolidating. If it falls below the trend line support below, you can pay attention to: 0.9403 0.8947 0.8806~0.8856 0.8665 0.8209 0.7922 - If it falls below the diamond pattern, MATIC has the opportunity to reach the support price of the above-mentioned 1D bear flag pattern.
Nota
After MATIC fell below the diamond pattern, the price rebounded around the strong support of 0.9421, and the highest price reached 1.0173. As this price is above the1.0159, the diamond pattern is invalidated. - But that didn't break MATIC bearish trend. In the 4hr chart, if the closing price of MATIC is below 0.9421, the inverse cup handle pattern is established, and the above mentioned price still have a chance to be reached. -
Nota
After falling below 0.9421, the inverse cup handle pattern is established, and the target price is: 0.9015 0.8880 0.8744 0.8307
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