🟣MATIC/USDT🟣

✔️ #Polygon $MATIC , which created a local peak at $1.29 with its rise last month, has been in a correction process and falling trend like the general crypto markets for a while. When we examine the MATIC chart over the 4-hour period, we see that the price has decreased by 33% from the local peak to $0.86 levels and has found support at these levels for now.

✔️ When we examine the RSI indicator, we see that the RSI value is currently at a level that can act as resistance and if this level is broken, the price can test the falling trend resistance on the 4-hour chart. Another piece of data that I find more valuable than many other types of analysis for crypto markets is the liquidation heat maps: When we examine MATIC's monthly liquidation heat map, we see that the price leaves a lot of short liquidations, especially at the $1.09 and $1.29 levels, and in this chart, short liquidations are more than long liquidations. We see. This appears as another positive data.

✔️ Although there are many reasons to look bullish on MATIC, MATIC chart is less bearish compared to other Altcoins of similar structure and the moving averages on the 4-hour chart are above the MATIC price (so they cannot act as support) call me against MATIC leaves it in one area. However, if the price breaks the falling trend and continues its rise after retesting this trend, I can get bullish thoughts on MATIC.

✔️ Especially the charts #TOTAL2 and #TOTAL3 will be guiding for us to predict the direction of the MATIC and Altcoin market in the coming days. I still think that the markets are in an intermediate region and I cannot make definitive judgments about which direction the markets will go in the coming days. At such times, analysis of TOTAL charts is much more important for our investments than at other times!

❗️ What I write here is my own opinion and is not investment advice. #dyor