The question well try to answer in this video is: how far can matic actually push here, and why do we have a target level all the way all the way up at around four point? Eighteen us dollars. So in this video guys we are once again back with polyglotmatic and we will be doing a matic price prediction and technical analysis if you guys enjoy these matic updates and want to see more. Its always super super awesome when you show that by dropping a like and real real quick before we get started here, i just have to give a disclaimer. This video is for entertainment and educational purposes. Only. Nothing in this video is financial advice, but alright, guys lets get started right away here. So lets actually start this video by switching to the four hour time frame. So here every candlestick represents four hours and, as we can see here, we need to look all the way back to around. You can see the top we printed here or we actually need to look all the way back here to around august 27. You can see since then a polygon have been trading in a sort of falling wedge, looking structure right, so we are printing consecutive. You know lower highs, so one high lower high lower high and at the same time we are printing consecutive lower lows. But just recently we did get a beautiful breakout here and since then we have been seeing a strong move here towards the upside with that said, you know if we zoom in right now, you can see that matic is actually approaching.

You know the previous sort of highs. You can see this sort of level we tested multiple times. You can see one time two time pretty much three times here just recently, and this one is at around 1.35 use dollars. So we are getting very close to that level once again and a first step – and this would be a very bullish step – would be to actually smash above this sort of short term resistance level. If we can do that, lets zoom out a bit once again, then you might remember that we had a target from this wedge. So what we did here is that we measure you know how large is the actual pattern. So we take a look at the low here to the high, so this is what we call the 100 measure move. So we measure how large is the folding wedge and then we take this measurement here and measure from the breakout. This would actually take matic. All the way, all the way up here to around 1.60. So if we can break 1.35, i would definitely pay attention to 1.60. That is our target from this falling wedge. Looking structure with that said what about if we can actually manage to smash? Above all of these short term resistance levels, what are some things to pay attention to then? Well, right now we are on the daily time frame, so every candlestick represents one day, and one important thing i do want to mention here on the daily is that if we zoom in to todays candle, you can see that right now, as were speaking, we are Trading above the prior red one, so if matic actually closes the day above around 1.

32, then today we will actually be printing a bullish, candlestick pattern. We will be printing a bullish, engulfing pattern that can indicate continuation to the upside. So that is, you know very nice to see here very nice to see. Another important thing that is about to happen here is that we are about to get a candle close above this zone in between around 1.20 to 1.30, and we will later on in this video, when we take a look at some very important support levels that we Need to pay attention to in the short term. We will return to why this zone is important, but for now, since were seeing such a green day lets focus on the upside scenario and what target levels we need to pay attention to right now and if we look up here, if we manage to break all Of these short term levels, im actually looking up all the way, all the way up to this zone in between around 1.79 to 1.69 as a major resistance zone. Why is this zone important to have your eyes on? Well, if you look a bit left here, we can see that this zone just recently acted as resistance. You can see resistance here september 5th. We saw this one as resistance. Once again, you can see august 23rd here and if you look even more left, one could definitely argue that we saw resistance right here. June 15 resistance once again here, june 7, so multiple multiple times this one have been acting as resistance.

Definitely one worth paying attention to if the matic bulls continue to show strength here and smashes above 1.79, then we have two levels. We have one here at around 2.43 and we have one all the way all the way up here at around 2.83, and this ones of course comes from the sort of tops we printed right here. First of all, we have a local top. We printed may 26, that is the 2.43 level, but if the bulls can manage to smash above 2.43, then we are of course looking up at our all time. High matic printed here may 18.. Now we are soon ready to take a look at why we have a target all the way up at 4.18, as well as our very bullish target here at 6.’, but real quick before doing that, i actually want to switch to something that, at least in my Opinion is more important than our upside scenario, and that is, of course, to take a look at, as you know, in crypto it can go super fast to the upside, but we can also reverse very fast. So it is super important to have your most key support levels fresh in mind, but real quick. Before doing that, i actually want to ask you guys a question, and that is what are you drinking today today, im sipping on some morning: coffee, no milk, no sugar involved, but please guys, let me know down in the comments.

What are you drinking today now lets? Take a look at where is our most key support levels and the first one which we mentioned this earlier in the video. It is this zone right here in between around 1.30 to 1.20 use dollars. This zone have historically both been acting as resistance and support. We can see resistance here. September 23, support one time two time here in the beginning of september. We also saw this one at support. August 31. We saw this one as report august 18.. We look even more left here. Resistance here august 6 resistance, multiple, multiple times here way back in june. This is a level that multiple times historically have been acting both as support and resistance. Definitely look out for this one as a key support area. You know, for example, if we get a continuation here, we might want to go down and retest this one before running again, but lets say if we actually fail to hold this one. What are we looking out for then? Well then, we have this level at around one use dollar. This level is important for multiple reasons. First of all, the one use dollar level is what we trading call a psychological resistance, meaning that traders tend to pay a bit more attention to. You know nice and clean numbers, for example, one dollar two dollars, five dollars and so on and so on. But this one dollar level also have some historic significance.

We look a bit left. You can see this one was sort of major support here. September 21. It acted as support multiple times here in july, and also, if you look way back, you know way back to june here. One could also argue that we saw support at that level, though this one use dollar level, definitely want to look out for, but now guys now we are finally gon na. Take a look at why we have a target level all the way all the way up here and you can see at 4.18, as well as all the way up at around 6.’ and how we actually got these levels is that we use our fibonacci tool uh. If you want to learn more about fibonacci, i have some educational content on that, but what we basically do is that we that we anchor from the all time high we anchor from the all time high to the very low here and as we can see as We can see here our 1.618 fibonacci extension is all the way up at around 4.18, and this is a very common levels for traders to use when something breaks an all time – high, very common levels for traders to use to take profit. So this is why we have a target at 4.18, and you know with that said: if we break 4.18, then we have the 2.618 and this one is all the way up at 6.

‘ uh. So these are our target levels for now, but what we do need to mention here is, of course, that we, we have many levels and before that, that we need to break, and these ones are starting to get really interesting when we break the old all time. High and it is far up to go there, but we are seeing some green numbers today so lets you know, keep the keep the bullish vibes up here, but all right guys thats pretty much it for this video. If you feel like you got any kind of help or value, then please consider dropping a like and if you guys are interested in more dont hesitate to subscribe and hit that notification bell.

https://www.youtube.com/watch?v=5r1s2nWCNJE