Buyers are exerting more pressure
POL (prev.MATIC) Price Analysis – 11 August
POL (prev.MATIC) may be able to advance to the $0.26 and $0.34 difficulty levels after overcoming the $0.24 barrier. The market might be able to breach the $0.22 support level and expose itself to the $0.19 and $0.16 levels if sellers can create some momentum.
Key Levels:
Resistance levels: $0.24, $0.26, $0.34
Support levels: $0.22, $0.19, $0.16
POL (ex-MATIC) Long-term Trend: Bullish
POL, a prev.MATIC, is optimistic. The value of the currency bottomed on August 02 at $0.19 before starting to incline. Something happened once the price incline hit the specified level. A test of $0.26 was conducted two days after the price increase. Financial upturns are becoming less frequent for consumers. The bulls were the focus of the first floor. The currency recovered from its bottom close to the $0.19 barrier level when buyers applied more pressure. After breaking through the $0.22 barrier, bulls are now trying to break through the $0.24 barrier.
When POL is trading above the Hull Suite crypto signals indicator, bulls are in control of the market. After breaking through the $0.24 barrier, POL (prev.MATIC) could be able to move on to the $0.26 and $0.34 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: Bullish
It shows a POL’s four-hour inclination. The price movement over the past two weeks around the $0.19 level resulted in the formation of a fairly bullish engulfing candle pattern on the 4-hour time frame. It was rising. Bulls are outperforming bears in the market. Despite the bears’ resistance, the trend broke through the dynamic resistance structure, signaling an aggressive bullish phase.
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