MATIC looks tired.
- Distinct Wave 5 could be ending
- Overbought Stoch RSI 8h
- Broken down from long-term ascending parallel channel
We see a 12% drop in the coming days. To the 0.6300 area.
But positive trend is still there, so this could have another leg up after.
Decreased Network Activity:
Despite an increase in active addresses, MATIC's price has declined, indicating that heightened network activity isn't translating into price support.
Increased Selling Pressure:
A rise in open interest indicates that traders are increasing exposure to MATIC, but if this is driven by short positions, it could lead to increased selling pressure and a subsequent price decline.
A good strategy is repetitive, and even boring.
Keep it simple and efficient.
