Hello and welcome to my  technical analysis of the MATIC/USDT trading pair.  Currently,

MATIC is trading at $1.27

Based on the chart analysis, it appears that the ascending trendline has broken down, indicating a  bearish trend in the short term. 

Moreover, the high time frame (HTF) ascending trendline support has turned into resistance, and $1.30 is the current  resistance level.

Thus, it would be wise to wait for confirmation before opening any trade. 

If the price falls below the recent low of $1.193, then we can expect the price to drop further to around $1

However, if the price breaks upward at $1.35, then we can expect a  bullish trend .  It is essential to keep an eye on the  support and resistance levels, with the support levels at $1.07 and $0.90 and the resistance levels at $1.35 and $1.52  Additionally, the  RSI is not in the overbought area. A good entry point would be when the  RSI hits below 30

In conclusion, it is important to make trading decisions based on confirmation and not blindly.

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Regards:- 

CryptoPatel

#cryptotrading #Binance #Matic #Polygon #Maticusdt