POL (prev.MATIC) Price: A Bearish Reversal at $0.28 Zone

Sellers’ pressure is increasing

POL (prev.MATIC) Price Analysis – 22 September

After breaking through the $0.24 barrier, POL (prev.MATIC) may be able to move on to the $0.26 and $0.28 difficulty levels. If sellers can generate some momentum, the market may be able to break through the $0.22 support level and expose itself to the $0.19 and $0.16 levels.

Key Levels:

Resistance levels: $0.24, $0.26, $0.28

Support levels: $0.22, $0.19, $0.16

POL (ex-MATIC) Long-term Trend: Bearish

POL (prev.MATIC) is an example of a negative momentum crypto. The coin’s value dropped to $0.19 on August 2 before starting to increase. Something happened once the price incline hit the specified level. A test was conducted at $0.26 two days after the price increase. Financial upturns are becoming less frequent for consumers. The bulls were on the first floor. The currency recovered from its lowest position close to the $0.19 barrier level when buyers applied more pressure. After testing the $0.28 barrier, bears are now trying to push back the price towards the $0.22 barrier.

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When POL is trading below the Hull Suite crypto signals indicator, bears are in control of the market. After breaking through the $0.24 barrier, POL (prev.MATIC) may be able to move on to the $0.26 and $0.28 difficulty levels. If sellers can generate some momentum, the market may be able to break through the $0.22 support level and expose itself to the $0.19 and $0.16 levels.

 

POL (ex-MATIC) -term Trend: Bearish

It shows a POL’s four-hour declination. The price movement over the past two weeks around the $0.28 level resulted in the formation of a fairly bearish engulfing candle pattern on the 4-hour time frame. It is declining. Bears are outperforming bulls in the market. Despite the bulls’ barrier, the trend broke through the dynamic resistance structure, signaling an aggressive bearish phase.

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