MATIC is in danger, he is unlikely to FALL!

Hi all!

Let’s continue our analysis of the most dangerous altcoins that showed greed during the rebound from Bitcoin. Today it’s time for MATIC. It has the biggest reset potential right now. I assume that the market maker created a false growth in this altcoin to show other traders the illusion of the strength of the asset. Of course it’s fake and MATIC is about to break or at least test its bottom at $0.33 and I’ll show you why. Let’s go!

Let’s look at the 1D timeframe MATICUSDT of the WhiteBit exchange. The bottom at $0.33 marked the end of wave 3, as well as throughout the crypto market. Corrective wave 4 rolled back this wave with a zigzag correction. A zigzag correction usually consists of wave A (5 waves), wave B (3 waves) and wave C (5 waves). The graph shows how perfectly the market structure for MATIC matches this theory. You may be wondering why wave 5 did not break the top of wave 3 in wave C. I can explain this because wave 5 can be clipped. This is normal for altcoins.

Now the price is drawing wave 5, and I assume that sub-wave 3 of this wave continues. The minimum target for wave 3 is the $0.61 – 1 Fibonacci extension level, but I think MATIC will reach $0.3 again because the 1.61 Fibonacci is located right here.

Best regards, Ivan