Polygon (MATIC) is forming an inverted head and shoulder pattern
The pattern predicts a 62% climb by measuring the distance between the lowest point of the head to the neckline and adding resistance at $ 1.66
In bearish conditions, the bears can lower the price below the horizontal resistance at $ 1.66, which indicates weak buying pressure
If buyers can not regain their resistance, it will lead to further price reductions. With the price falling below $ 1.40 on September 3, the uptrend scenario is canceled
(have a nice day)
The pattern predicts a 62% climb by measuring the distance between the lowest point of the head to the neckline and adding resistance at $ 1.66
In bearish conditions, the bears can lower the price below the horizontal resistance at $ 1.66, which indicates weak buying pressure
If buyers can not regain their resistance, it will lead to further price reductions. With the price falling below $ 1.40 on September 3, the uptrend scenario is canceled
(have a nice day)