📊 Analysis:
Market Observation: Layer 2 coins, including MATIC, have shown notable performance recently.
Current Situation: MATIC is trading near resistance without a proper breakout.
Strategy: Plan for a long position upon a breakout above the upper resistance level.
Entry Point: Enter a long spot position when the price breaks above the upper resistance level at $1.25.
Take Profit: Target the next area of resistance between $1.50 - $1.60.
Stop Loss: Set a stop loss just below the breakout level, at around $1.20, to manage risk.
🌐 Note: Monitor the breakout closely and ensure it's supported by sufficient volume and confirmation before entering the trade. Adjust your strategy based on market conditions and price action.
Market Observation: Layer 2 coins, including MATIC, have shown notable performance recently.
Current Situation: MATIC is trading near resistance without a proper breakout.
Strategy: Plan for a long position upon a breakout above the upper resistance level.
Entry Point: Enter a long spot position when the price breaks above the upper resistance level at $1.25.
Take Profit: Target the next area of resistance between $1.50 - $1.60.
Stop Loss: Set a stop loss just below the breakout level, at around $1.20, to manage risk.
🌐 Note: Monitor the breakout closely and ensure it's supported by sufficient volume and confirmation before entering the trade. Adjust your strategy based on market conditions and price action.