Upside Potential for Polygon/Matic

29 apr 2021

Formation of a cup and handle and holding the green diagonal support.

Bullish movement confirmed if it breaks UP out of the yellow channel and cuts through $0.88 - Maximum POTENTIAL upside target is $1.10

Bullish movement invalidated if its green diagonal support doesn't hold, breaks BELOW the yellow channel, and if it doesn't hold the orange local support- Maximum POTENTIAL downside target is $0.60

RSI across the 30 minute - 4 hour timeframe is below 25 so I'm quite bullish

29 apr 2021

Nota

It appears to have developed into an ascending triangle formation. RSI on broader timeframes between 1hr - 6hrs is still way below 50. I say there's a good chance we might blow past my range. I'll be doubling down on this the moment $0.88 is flipped into support. We could be dancing above $1.00 in less than 24 hours if all goes according to plan.

29 apr 2021

Nota

To add to the bullish bias, Polygon has now been listed on Gemini. More volume to be expected. I reckon $5+ this bull run would not be surprising.

sources:
twitter.com/0xPolygon/status/1387774768120844289
gemini.com/blog/gemini-supports-new-defi-metaverse-data-storage-and-infrastructure-tokens