Upside Potential for Polygon/Matic
Diupdate
Formation of a cup and handle and holding the green diagonal support.
Bullish movement confirmed if it breaks UP out of the yellow channel and cuts through $0.88 - Maximum POTENTIAL upside target is $1.10
Bullish movement invalidated if its green diagonal support doesn't hold, breaks BELOW the yellow channel, and if it doesn't hold the orange local support- Maximum POTENTIAL downside target is $0.60
RSI across the 30 minute - 4 hour timeframe is below 25 so I'm quite bullish
Bullish movement confirmed if it breaks UP out of the yellow channel and cuts through $0.88 - Maximum POTENTIAL upside target is $1.10
Bullish movement invalidated if its green diagonal support doesn't hold, breaks BELOW the yellow channel, and if it doesn't hold the orange local support- Maximum POTENTIAL downside target is $0.60
RSI across the 30 minute - 4 hour timeframe is below 25 so I'm quite bullish
Catatan
It appears to have developed into an ascending triangle formation. RSI on broader timeframes between 1hr - 6hrs is still way below 50. I say there's a good chance we might blow past my range. I'll be doubling down on this the moment $0.88 is flipped into support. We could be dancing above $1.00 in less than 24 hours if all goes according to plan.Catatan
To add to the bullish bias, Polygon has now been listed on Gemini. More volume to be expected. I reckon $5+ this bull run would not be surprising.sources:
twitter.com/0xPolygon/status/1387774768120844289
gemini.com/blog/gemini-supports-new-defi-metaverse-data-storage-and-infrastructure-tokens
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