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📉 Coin Pair: #MATIC/USDT $MATIC
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On the 4-hour chart, the MATIC/USDT trading pair has formed a descending channel pattern. This pattern, marked by lower highs and lower lows, creates a downward-sloping channel. However, a bullish divergence in the Relative Strength Index (RSI) suggests potential bullish momentum. While the price has been making lower lows, the RSI has been making higher lows.
Additionally, the price has recently broken above the support line of this descending channel. Such a breakout is a strong bullish signal, indicating a possible trend reversal. Considering these technical indicators—the descending channel pattern, bullish divergence in the RSI, and breakout above the support line—the MATIC/USDT pair is likely poised for a bullish move.
ENTRY - 0.6318 or Market Price
Signal Type - LONG
Take Profit Targets:
1. 0.6644
2. 0.6856
3. 0.7130
4. 0.7290
Stop Loss - 0.6000
Leverage - 4x
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