📊 Polygon (MATIC) Market Analysis – Key Levels to Watch
🔹 Token: Polygon (MATIC)
🔹 Trend: Mixed – Watching for key confirmation
🔹 Current Structure: Possible ABC correction or start of a 5-wave uptrend
🟩 Key Support & Invalidations:
📌 Short-term support: $0.208 (Invalidation of bullish yellow count if lost)
📌 Final major support zone (Fibonacci): $0.171 – $0.220
📌 Breakdown below $0.170 invalidates even broader bullish potential
🎯 Upside Targets (if structure holds):
1️⃣ TP1 – $0.366 (100% Fib extension)
2️⃣ TP2 – $0.419
3️⃣ TP3 – $0.454
🛑 Stop Loss Ideas (based on strategy):
⚠️ Conservative SL: $0.208
⚠️ Aggressive SL: $0.171
📈 Technical Outlook:
MATIC is currently in a corrective phase. The short-term yellow count suggests a potential rally if support holds, but it's not a strong bullish setup — more likely a corrective three-wave move.
There's also a white scenario being tracked, with a potential 5-wave impulse starting. But for this to be confirmed, MATIC must break above $0.269, a key swing high and the 78.6% retracement of the prior decline.
Caution is advised, as both the yellow and white counts rely on the current structure holding key support. Failure to do so likely leads to further downside.
📌 Conclusion:
This is a speculative setup. For confirmation of a bullish reversal, MATIC needs to maintain support above $0.208 and eventually break $0.269. Long-term trend confirmation requires a full five-wave impulse and a wave 2 retracement holding higher lows.