Matic Network (MATIC) has been in break-out-mode for the past 3 days since the bulls made a move of around 7% followed by a huge 14% breakout, smashing through the EMAs.
MATIC bulls have continued the rally today with a 12% move on increasing volume. This is really significant as it’s also a breakout above the weekly 12-period EMA.
We are now looking at an equilibrium pattern on the weekly which could very easily turn into an uptrend if the bulls keep the momentum going. The RSI on the daily chart is not yet overextended although consolidation will likely be coming soon.
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.