MATIC/USDT

I am currently considering MATIC as I believe there may be an opportunity for an upward movement in price, although it may take some time. MATIC has broken its downtrend on both the 4-hour and daily charts, and although the trend is subjective, it is evident that the price is not currently trending downwards. The price action is also showing higher lows and attempting to break the second micro downtrend, indicating that buyers are stepping up to take control. Additionally, the price is finding support at market fib levels.

By using Gann Fans for the local uptrend, it appears that the price is moving towards the 1/1 line, but the current uptrend is not very strong as the price is trailing beneath the 1/1 line. However, there are signs of buying pressure from the red candles at support and the long bottoming wick. On the other hand, by using Gann Fans from the local downtrend, it appears that the price is breaking through the 1/1 line, which is a bullish sign and indicates strength. This suggests that the square of the downtrend is being lost, meaning that more time is needed for the price to fall lower as it climbs higher, a sign of buying pressure.

Finally, using Fib Speed Fans, it seems that the price is trending somewhat sideways but gaining momentum. It is important to note that losing the purple marked area would indicate that the price is starting to trend downwards and lose momentum, which is not ideal. Similarly, falling and closing below the red zone would require a reassessment of trades as going long may no longer be a viable option at that price level.

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