MATIC/USDT 4HInterval Chart
The last one in today's list is the MATIC chart in the USDT pair, like its predecessor on a four-hour interval. First, we will use blue lines to mark the upward trend channel in which we could observe an attempt to break the price down, but as it turned out, it was a false break after which the price returned to the channel and started dynamic growth, creating an upward trend line along which moves.
Moving on, we can move on to marking the resistance points. And here, as the first one, we have a strong resistance zone from $1.01 to $1.09, which is the place of the last price hill, and the current place of struggle, when the price breaks out of this zone, it may result in a quick move towards the resistance at $1.34.
Looking the other way, we will determine support areas and here we can determine the first support at $0.93, then the second support at $0.83, and then the third at $0.77.
After turning on the EMA Cross 10 and 30 indicator, we can see how they continue to indicate that the current uptrend is continuing.
Please look at the RSI indicator, because despite the increases, there is room for a potential further upward movement, while when you look at the STOCH indicator, you can see a movement above the upper limit, which often leads to a reduction in growth or a correction.
Moving on, we can move on to marking the resistance points. And here, as the first one, we have a strong resistance zone from $1.01 to $1.09, which is the place of the last price hill, and the current place of struggle, when the price breaks out of this zone, it may result in a quick move towards the resistance at $1.34.
Looking the other way, we will determine support areas and here we can determine the first support at $0.93, then the second support at $0.83, and then the third at $0.77.
After turning on the EMA Cross 10 and 30 indicator, we can see how they continue to indicate that the current uptrend is continuing.
Please look at the RSI indicator, because despite the increases, there is room for a potential further upward movement, while when you look at the STOCH indicator, you can see a movement above the upper limit, which often leads to a reduction in growth or a correction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.