Analysis of Matic’s wave structure reveals the formation of a medium-term symmetrical triangle (marked with black lines).
Moving in what I believe is a downtrend channel (until it changes course), it is showing preference for travel through the middle 50% of the channel where most of its price action is concentrated, with an established a Point of Control at 0.02117 at the time of writing.
The red dotted lines marked on the chart are possible targets previously deduced for our Matic to Retrace analysis. These remain in status quo as does our target for Matic’s short-term setup which is still in play.
Matic’s retracement to the possible marked targets should present us with a good opportunity for strong winnings, pending positive indicator signals. As always, our eyes are wide open. :::)
Watch this play out on YouTube:
(The targets/patterns on this chart is only theory and not a signal of any kind.)
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Trading View link: https://www.tradingview.com/chart/MATICUSDT/ZpLRxoR2-Matic-s-Triangle-Formation/