1. Price forecast (short-term and medium-term)
• Short-term outlook: The chart shows price consolidation around $0.43. RSI is around 43, indicating a weak bearish trend. Trading volumes are falling, indicating a likely slowdown in the current movement.
• Medium-term outlook: EMA 20, 50, 100 and 200 are intersecting and sloping downwards, indicating a continuation of the downtrend in the medium term. If the price fails to hold above $0.45, further decline to $0.40 and below is possible.
2. Support and resistance levels
• Support levels:
o $0.43 (current support, coincides with the lower border of the Ichimoku cloud)
o $0.40 (important psychological support)
o $0.37 (next key support level)
• Resistance levels:
o $0.45 (nearest resistance level, coincides with EMA 50)
o $0.47 (key resistance level, coincides with the upper border of the Ichimoku cloud)
o $0.50 (EMA 100, important resistance level)
3. Entry, exit, stop loss points for LONG positions
• Entry point: 🟢A LONG position can be considered when the price confidently consolidates above $0.45, preferably with confirmation of volume.
• Exit point: The target will be the level of $0.47, with strong dynamics, $0.50 can be considered.
• Stoploss: It is recommended to place the stoploss below the $0.43 level, around $0.42.
4. Entry, exit, stop loss points for SHORT positions
• Entry point: 🛑A SHORT position can be opened when the $0.43 level is broken downwards with confirmation of the volume and consolidation below $0.43.
• Exit point: The target will be the level of $0.40, with strong dynamics we can consider $0.37.
• Stop loss: It is recommended to set the stop loss above the $0.45 level, around $0.46.
5. LONG and SHORT scenarios with probability assessment
• 🟢LONG scenario: The probability of a successful scenario increases with consolidation above $0.45 with volume confirmation. In this case, the target may be the $0.47 level, and then $0.50. The probability of success is about 55%.
• 🛑SHORT scenario: If the price breaks through the $0.43 level and consolidates below it, a scenario of continuation of the downward trend to $0.40 and $0.37 is likely. The probability of success is about 60%.
⚠️ Overall conclusion: The current situation on the MATIC market indicates a predominance of bearish sentiment. LONG positions need strong support at $0.45 with increasing volume. SHORT positions have a higher probability of success when $0.43 is broken with targets at $0.40 and below. 🖌 Subscribe to stay up to date with the latest news! 🔔💰➡️🌀@INVESTIDEAUA INVESTIDEAUA
