#MATIC/USDT : A Detailed Look at Support and Resistance Amid Bear Market
The MATIC/USDT chart presents a promising scalping opportunity. Currently priced at $0.500, MATIC is forming an ascending triangle pattern, indicating a potential breakout.
Technical Indicators:
Price Action: MATIC has been trading in an ascending triangle, indicating potential breakout.
SMA 200: The price is approaching the SMA 200, which could act as resistance.
Support & Resistance: Key support at $0.50 and resistance at $0.5187.Volume: Increased volume activity around these levels, indicating potential for significant price movement.
The increased volume and the ascending triangle pattern suggest that MATIC could experience significant upward movement if it breaks through the resistance level. The $0.50 level acts as strong support, providing a stable base for potential upward moves. This makes MATIC a strong candidate for scalping strategies, focusing on short-term gains as it approaches key resistance levels.
Disclaimer: This is not financial advice. Always conduct your own research before trading.
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