MATICUSD One more correction left before going parabolic!

It has been a little over 2 months since our last analysis on Polygon (MATICUSD), which eventually hit our 0.7000 target (see chart below) and has now broken above the 1W MA100 (green trend-line) for the first time since March 13 2023:


As you can see on this 1W time-frame, we are about to get a Bullish Cross between the 1W MA50 (blue trend-line) and the 1W MA100. That will be the first in MATIC history but we do not expect it to create the conditions for an immediate rally. Based on the same long Accumulation Phase of the previous Cycle, the rally started after the price broke below the 1W MA50 one last time.

Once that happens, we will turn bullish on MATIC again for the long term and target the 2.0 Fibonacci extension at 5.000.

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