Optimistic yet realistic price path to $15.50 for MATIC by EOY
My idea is based on the assumption that the price of MATIC is on an ascending channel and will hit the top of that channel by the end of the year. Having plotted some significant lines of resistance and support alongside a fib retracement that goes from the ATH to the ATL (Nov 2020) I am attempting to show a realistic blow-off top scenario to $15.50 for MATIC by the EOY.
It took about 80 days from the day we started this channel to the ATH (Feb 27th to May 18th). If we assume another 80 days from our recent low (Sep 29th) to the blow-off top then we could see $15.50 by December 18th.
It took about 80 days from the day we started this channel to the ATH (Feb 27th to May 18th). If we assume another 80 days from our recent low (Sep 29th) to the blow-off top then we could see $15.50 by December 18th.