Hodl, dear members of LeoFinance!
Today, I would like to comment on the price chart of Polygon because it looks strong, while many major cryptocurrencies are under bearish pressure.
So, in the daily chart (1D), MATIC/USD has received support from the 30-day Moving Average (MA 30) and has just rebounded:
As can be seen from the chart, also, MA 30 is above MA 90 - a clear signal that the bullish trend continues.
If we have a look at the daily chart (1D) from another angle, we can see that the bullish trend remains as well - the price continues its upward journey in the Ascending channel:
The sequence of higher lows and higher highs respectively remains in place - a confirmation of the uptrend.
So, I just want to highlight that although there are cryptos are in a phase of correction, the price chart of MATIC looks strong. That's why I think that if the bullish sentiment returns to the crypto market then MATIC will probably be among the best performers.
To be continued ...
As of the time of writing, one MATIC costs $2,14 on the Coinbase crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15+ years, and as a cryptocurrency analyst for the last 4 and a half years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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