MATIC/USDT A successful breakout the resistance will be bullish!

6月5日

💎 Paradisers, MATIC is indeed displaying intriguing movements that warrant close attention.

💎 Currently, in the accumulation phase, MATIC has shown resilience by bouncing when it reached the demand area around 0.696 to 0.675. This suggests a potential continuation of the upward movement, aiming to confront the resistance of the accumulation phase.

💎 If MATIC successfully breaks above the resistance at 0.77, it could signify a bullish momentum, potentially leading to significant upward movement with the target set at the supply zone around 0.91.

💎 Breaking above the supply zone is essential for reinstating a bullish trend in the mid-term and could pave the way for reaching our target strong resistance area.

💎 However, if MATIC faces rejection at the resistance area, it may retreat to retest the demand zone, or even descend further to the strong support area around 0.631. Historical data indicates that MATIC tends to bounce back upward when reaching this strong support level.

💎 The bullish scenario would be invalidated if the daily candle closes below the strong support area. In such a case, there's a possibility of further downward movement and deeper dips in price.

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