MATIC/USDT: Key yearly support tested - Direct rise still valid

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

MATIC/USDT: Key yearly support tested - Direct rise still valid

Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets MATIC suffered about negative global market situation and did a test of the long-term yearly support at 0,41
- However we are focus on a direct rise now on this coin and we expect a fast and quick recovery regarding technical elements provided by the interpretation of the Elliott waves .

Previous analysis : https://www.tradingview.com/chart/MATICUSDT/B0lb8tkh-MATIC-USDT-On-Buying-area-Direct-rise-expected/


Market configuration

- Graphical Elements :
Graphical Resistance = 0,66 & 1,26
Graphical Support = 0,25 & 0,042

- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market at 0,66 = Bearish
RSI indicator (below) is bouncing off key support with divergence = Bullish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target C (B) has been already reached = 0?41
Fibonacci resistance of the wave in progress = 0,66
Fibonacci support of the wave (c) (B) (max extension) = 0,32 (auto-similar move - excess)
Fibonacci Bullish Target = 1,26


Conclusion

Preferred case => Regarding the mid-term element, MATIC is offering the perfect entry area for DCA or short-term recovery as long as 0,32/0,41 remains a support area valid, a break above 0,66 will confirm a rise to 1,26