1. MATIC has had a really good uptrend, but not the best performance out of many large caps as it has struggled breaking past key levels. The recent top was put in at the exact level where the pre FTX collapse highs were on November 7, 2022.
2. MATIC's flush from accepting under the yearly open led it to previous highs support at $0.65. Very steep correction for this coin, and I am unsure of the performance in the mid term or long term, as MATIC has not been an incredible performer.
3. The range we've been building has been good, as it provides a clear path for either direction.
4. Polygon has also started a major rebranding of MATIC to POL, and have been announcing some other technological advancements for the project.
5. For a long position, look for a reclaim of the $0.75 level as MATIC could begin to climb back up from this drop. Good levels here are $0.798 and $0.863.
6. For a short position, look for a breakdown of $0.67, the monthly open stands at $0.6672m use this to confirm a close below to begin moving lower. This will lead to another move down into the $0.63 and $0.593.
