- MATIC price rallied 125% since July 1; FXStreet analysts were able to find an entry capturing 68% of the rally for an 85% increase in profit.
- Polygon price has extended targets in the $1.25 region, but a possible retracement into $0.64 remains on the table.
- Invalidation of the uptrend scenario remains a breach below $0.54 until further notice.
MATIC price recent upswing is one of the best forecasted trade setups made this year. Here’s a full recap of what just took place.
The potential bullrun was spotted on June 27th
"The shallow pullback provides bears a fair chance to close their orders and join the bulls. If the technicals are genuine, a second breach through $0.61 could trigger a bullish spike towards $1 in the coming days. Ultimately, denial could be the catalyst to provoke an additional rally."
MATIC/USDT 4-Hour Chart 6/27/22 Original Bullish Thesis
The call was made on July 6th
“If market conditions are genuinely bullish, an additional retest of the trend line will not be necessary. A second attempt from the bulls to breach the $0.540 level should be the catalyst to induce a bull rally targeting $1.00.”
MATIC/USDT 4-Hour Chart. 7/06/22 Bullish Setup Thesis
Highlighted in bold, the risk was stated:
“Being an early bull is justifiable as the invalidation level is clear. Invalidation of the bullish trend is now a breach below the ascending trend line at $0.48.”
One week later the MATIC price rallied 30% and traders enjoyed a profit of 4x their risk.
Matic/USDT 8-Hour Chart June 14 Bullish Setup Follow Up Thesis
A follow up thesis was issued, emphasizing pulling risk off the table
"Invalidation of the uptrend targeting $1.00 can be moved into profit from $0.48 to $0.54."
Within three days time, MATIC price ascended into the upper trend target to reach a high at $0.9849, a penny short of the prophesied one dollar target.
MATIC/USDT 8-Hour Chart. 7/21/22
Subscribers who partook in the original move witnessed an 85% increase in price. For every one dollar risked, $13 dollars of profit was made.
MATIC/USDT 7/21/22 Full Recap
The bulls who joined later on June 14 saw a 60% increase in price before significant bearish signals entered the market at the upper $0.95 region on July 17. For every one dollar risked, nearly $8 dollars of profit was actualized. Overall this 13-1 reward-to-risk setup has been one of the best forecasts this Crypto Season.
MATIC/USDT 8-Hour Chart. 7/21/22
MATIC price has extended targets in the $1.25 zone.
New technichals suggest a break above $1.02 could be the catalyst to induce an additoional 40% rally. For this reason Traders shouild keep close eye on the Polygon in the coming dsys. Invalidation of the uptrend is still at $0.54
MATIC/USDT 1-Day Chart
In the following video, FXStreet analysts deep dive into the technicals and fundamentals of top Altcoins, analyzing key levels in the market
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