7/25/2021 10:00:20 PM GMT
MATIC price finding the June 22 low at $0.92 to be a formidable opponent to higher prices.
The rising wedge pattern on the intra-day chart imposing a bearish alternative for short-term Polygon intentions.
Impulsiveness died on July 22, with the four-day Rate of Change (ROC) at just 2%.
MATIC price climbed the cryptocurrency market leadership board on July 21 with a 29% gain. The bounce followed a test of the 200-day simple moving average (SMA) and an oversold reading on the daily Relative Strength Index (RSI). However, Polygon has not capitalized on the rebound, offering a 2% return over the last four days as it stumbles with the resistance inherent in the June 22 low of $0.92. Overall, a bullish MATIC outlook prevails, but the rising wedge on the intra-day chart projects some weakness.
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7/14/2021 11:59:30 PM GMT
VeChain price structure has morphed from a bear flag pattern to a head-and-shoulders pattern, similar to a month ago.
VET is nearing a bearish Death Cross pattern as the 50-day simple moving average (SMA) convergences with the 200-day SMA.
Daily volume has continued to edge lower, showing less engagement with the cryptocurrency, despite lower prices.
VeChain price triggered a head-and-shoulders topping pattern yesterday, confirming the fragility of the price structure plotted since the June 22 low. The mild VET rebound today does not disrupt the bearish outlook, and all the evidence continues to point to at least a break of the June 22 low of $0.059.