Matic Catching up!

1 de out. de 2021

I was in the process of writing about why Matic was lagging the field when it started to shift on all the key points it was yet to satisfy for me.
As of now looking very healthy, will be watching the pull back which is likely from the global trend and key resistance (previous daily demand area) at 1.2

Watching for it to break that global trend.
Currently very over bought on H4 RSI and likely needs to consolidate on RSI. Price can still increase while RSI consolidates
MACD just crossed 0 producing a buy signal
OBV is finally catching up, trending positive (was previously -1 degree) trade in the direction of the OBV

Watch BTC, it is currently testing the top of OBV channel and previous hard wall of 45k, I feel Matic can keep moving up if BTC doesn't get a strong rejection here, double top on higher time frame or similar

1 de out. de 2021

Nota

If there is a pull back from global trend it will likely reset around 1.64, previous swing high + weekly open.

Global trend and previous daily demand also sit on the 50% fib retrace, pull back not unlikely, strong support if the resistance breaks

2 de out. de 2021

Nota

Update: If Matic does run, expect to see strong resistance at around 1.30-1.35 and further resistance up to 1.48 range. Previous demand area support, trend from previous ATH, multiple weekly opens, and 38.2 fib retrace. Lots of trading styles likely captured to produce strong resistance. Once we're through that should run well if investors don't take profit early. Something of the story for me with matic recently!