Technical Weakness on Rising Wedge by Bulls

Matic has been leading the charge during this entire bear market. It has put in this nice rising wedge pattern since June 2022. Recently, we saw it make the move to the monthly tenkan around 1.60 but the bulls could not reach the top of the rising wedge pattern which is technical weakness. We have now tested the bottom of the wedge and I can see the potential for it to break down from here. Any daily close under the bottom of the wedge is a sign of the coming move down to retest the .61 zone at the least. Keep eyes open.