Polygon, SafeMoon & Terra — Asian Wrap 30 June

Polygon’s MATIC price signals bears have re-entered the market. If the profit-taking continues, a cataclysmic fall could occur to breach the $0.31 lows. Polygon’s MATIC price could justify the old traders saying that “early buys quickly die” as the price threatens a breach into the mid $0.40 barrier. 


Safemoon price fails to break out from a descending parallel channel. SFM price has experienced a death cross of the 8- and 21-day simple moving averages. Invalidation of the bearish trend is dependent on a breach above the parallel channel currently positioned at $0.0006050.


Terra’s LUNA price could continue higher. It is not a guarantee, but the probability is valid. Terra’s LUNA price is experiencing a profit-taking consolidation as the bulls have finally created some momentum. The recent breach of $2.00 created a 35% rally into a high at $2.80 during the final days of June.

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