$MATIC has not been correlated to other popular chains lately like $AVAX, $CRO, $BNB.
$QUICK is one of the more popular DEXs on Polygon and has a low market cap (undervalued). If $MATIC pumps anything like $BNB did back when $CAKE went to Mars, I would expect $QUICK to pump similarly (but as hard) as $CAKE did.
Looking at the chart, $QUICK is at a critical point (the apex of a massive pennant). It broke out at the end of October and fell back into the apex of the pennant on Nov 19, flipping the top line of the pennant from support to resistance, which quickly flipped back into support the following day. Basically bears and bulls have destroyed each other (and me) with traps.
Right now $QUICK is approaching weekly support. I would expect a swing failure with a wick coming down to about $333.5, touching the outer/lower support channel for the large pennant. I also wouldn't be surprised to see the wick down to the green clouds at about $328. Intuitively, these levels would be major stop-loss levels which is exactly why I expect swing failures. It would absolutely scare the shit out of everyone to wick down to $328, which is when smart money starts scooping it up. At this point, the whole market would be positioned for the next leg up.
At this point, I am neutral. $QUICK gives me anxiety.
Please respond with your own TA so I can see what you're thinking!
$QUICK is one of the more popular DEXs on Polygon and has a low market cap (undervalued). If $MATIC pumps anything like $BNB did back when $CAKE went to Mars, I would expect $QUICK to pump similarly (but as hard) as $CAKE did.
Looking at the chart, $QUICK is at a critical point (the apex of a massive pennant). It broke out at the end of October and fell back into the apex of the pennant on Nov 19, flipping the top line of the pennant from support to resistance, which quickly flipped back into support the following day. Basically bears and bulls have destroyed each other (and me) with traps.
Right now $QUICK is approaching weekly support. I would expect a swing failure with a wick coming down to about $333.5, touching the outer/lower support channel for the large pennant. I also wouldn't be surprised to see the wick down to the green clouds at about $328. Intuitively, these levels would be major stop-loss levels which is exactly why I expect swing failures. It would absolutely scare the shit out of everyone to wick down to $328, which is when smart money starts scooping it up. At this point, the whole market would be positioned for the next leg up.
At this point, I am neutral. $QUICK gives me anxiety.
Please respond with your own TA so I can see what you're thinking!