Matic, Fetch.ai And Rune Are Trending

MATIC ANALYSIS: SEPTEMBER, 2021

Market Structure:

Matic is an Ethereum-based token that powers the Polygon blockchain network and provides Ethereum scaling solutions. Here’s the market structure of Matic.

Matic is trading at $1.386. The market structure of Matic is mildly bullish as it lost momentum when it broke a structure point on the downside during the crash. It needs to give a daily closing above $1.5 so as to confirm its ongoing bullish trend. Matic has been facing consistent rejections from $1.5 as it made two bearish candles with upside wicks at $1.5 in the past two weeks.

On the hourly chart, the coin has suffered a major resistance between $1.481 and $1.5 as the coin fell to $1.35 in a day. However, it found a demand zone near those levels as it made strong bullish candles from the same. It must break the range on either side to determine its future trend.

matic analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI is below the neutral region. It stands at 47.15 and has the potential to move higher.

The MACD is below the signal line, confirming the loss of momentum of bulls.

matic structure
Source: tradingview

Conclusion:

On the breakout and close above $1.420, $1.45 and $1.5 are the targets on the upside.

On the breakdown and close below $1.346, $1.30 and $1.27 are the targets on the downside.

FETCH.AI ANALYSIS: SEPTEMBER, 2021

Market Structure:

Fetch.AI is delivering AI to the cryptocurrency system which helps in facilitating automatic operations to DeFi platforms. Here’s the market structure of Fetch.ai.

Fetch.ai is trading at $0.8970. The market structure of Fetch.ai is extremely bullish as the coin is showing immense strength. It was one of the few coins that gained during the crash which shows the power of buyers. Moreover, it has been making higher-highs and higher lows on the daily time frame. However, the candles are made of huge wicks on both sides indicating indecision among the buyers and sellers of Fetch.ai. The coin must close above the psychological level of $1 to confirm buyer dominance.

On the hourly chart, the coin has witnessed a number of areas of interest. The demand order block stands between $0.8701 to $0.8877 as multiple markups have been seen from there. On the other hand, the supply order block is clearly seen at $1.007 to $1.019 as five consecutive bearish candles were formed from there. It needs to break out from either side to determine its future trend.

fetch.ai analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI is below the neutral region slightly. It stands at 44.36 and has the potential to move in either direction.

The MACD is below the signal line owing to the huge rejection from $1.

fetch.ai analysis
Source: tradingview

Conclusion:

On the breakout and close above $0.9168, $0.9425 and $1 are the targets on the upside.

On the breakdown and close below $0.8701, $0.8465 and $0.83 are the targets on the downside.

RUNE ANALYSIS: SEPTEMBER, 2021

Market Structure:

Rune is a cryptocurrency that has been designed to provide liquidity to the Thorchain blockchain network. Here’s the market structure of Rune.

Rune is trading at $9.862. The market structure of Rune is mildly bullish as the coin managed to close above the previous structure point on the daily chart. The structure point was formed at $9.238. It needs to sustain above the said level so as to continue its broader trend. The sellers have created a strong supply zone between $11.027 and $11.176 as the coin made a bearish candle with a huge top wick touching the resistance. The rejection was facilitated by above average volumes.

On the hourly chart, the coin has witnessed an excellent demand order block between $9.225 and $9.427 as the coin rallied over 20% in ten hours before facing rejection from the aforementioned levels.

Rune analysis matic
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI has swiftly moved below the neutral region. It stands at 44.02 and has the potential to move lower.

The MACD is below the signal line due to the strong rejection faced at the higher levels.

Rune
Source: tradingview

Conclusion:

On the breakout and close above $10.15, $10.446 and $10.65 are the targets on the upside.

On the breakdown and close below $9.73, $9.5 and $9.2 are the targets on the downside.

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