Current situation
MATIC is currently trading around $0.4140 and is forming an ascending triangle on the 2-hour time frame. This pattern often indicates a possible breakout or decline depending on how the price action evolves.
Schedule information
An ascending triangle is characterized by a series of higher lows converging toward a horizontal resistance level. MATIC is now at a critical point where the price can either break above the resistance or fall below the ascending support line.
Key Scenarios
Bullish Scenario: If MATIC breaks horizontal resistance with strong volume, it could lead to a continuation of the bullish trend, potentially pushing the price higher.
Bearish Scenario: If MATIC fails to break above resistance and instead breaks below the rising support line, it could signal a bearish trend, leading to further declines.
Conclusion
MATIC is at a critical point, and traders should closely monitor price action for a breakout or decline from the current ascending triangle. The direction in which MATIC moves will likely set the tone for its short-term trend.
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