MATIC's spot CVD has been trending downward since October 24th, with the altcoin's price falling from $0.65 to $0.609. The Open Interest (OI) has also seen a decline worth $5 million. However, there is a possibility of a reversal in the next few days after a breakout past the highs of a two-month-old range. The market structure has been bullish, but recent price movements indicate short-term bearish intent. A retest of the $0.59-$0.6 range could provide a buying opportunity with a target of $0.65 or higher.
MATIC’s spot CVD has trended downward since 24 October. The altcoin’s price also fell from $0.65 to $0.609, and the Open Interest saw a decline worth $5 million.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.This shift could be reversed over the next few days after a retest of a higher timeframe level of significancesaw a breakout past the highs of a range that was almost two months old.
This region had confluence with the range high at $0.589. Therefore, a retest of the $0.59-$0.6 would offer an ideal buying opportunity targeting $0.65 or higher. The On-Balance Volume saw an uptick over the past week to reflect increased buying pressure. On the other hand, the Relative Strength Index agreed with the market structure of MATIC and dipped beneath neutral 50. This was an early hint that momentum began to shift in bearish favor.The spot Cumulative Volume Delta has trended downward since 24 October. MATIC prices also fell from $0.65 to $0.609, and the Open Interest saw a decline worth $5 million. The falling OI and prices showcased short-term bearish sentiment.
Combined with the spot CVD, it was reasonable to expect a deeper retracement. This could take the price back to the $0.57-$0.59 breaker block over the weekend.Akashnath is a Chemical Engineering graduate deeply fascinated by Technical Analysis and the crypto markets and enjoys studying price movements and trying to find patterns.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Interest rates, volatility spark renewed interest in annuitiesInvestor Economics’s Carlos Cardone says newer annuity products may be on par with pension plans
Lire la suite »
Can MATIC’s consolidated gains extend beyond $0.60?Crypto market entered a price range into the weekend. For MATIC, the formation happened above a confluence of liquidity/breaker block - $0.60
Lire la suite »
Firearms instructor treated at mental health facility is person of interest in Maine shooting: copsLEWISTON, Maine (AP) — The man identified as a person of interest in a mass killing in Maine is a firearms instructor trained by the military and was recently committed to a mental health facility, according to a state police bulletin.
Lire la suite »
Firearms instructor treated at mental health facility is person of interest in Maine shooting: copsLEWISTON, Maine (AP) — The man identified as a person of interest in a mass killing in Maine is a firearms instructor trained by the military and was recently committed to a mental health facility, according to a state police bulletin.
Lire la suite »
Firearms instructor treated at mental health facility is person of interest in Maine shooting: copsLEWISTON, Maine (AP) — The man identified as a person of interest in a mass killing in Maine is a firearms instructor trained by the military and was recently committed to a mental health facility, according to a state police bulletin.
Lire la suite »
Firearms instructor treated at mental health facility is person of interest in Maine shooting: copsThe man identified as a person of interest in a mass killing in Maine is a firearms instructor trained by the military and was recently committed to a mental health facility, according to a state police bulletin.
Lire la suite »