Sellers’ pressure may break down $0.10 line
POL (prev.MATIC) Price Analysis – 29 December
If POL can overcome the $0.11 resistance level, it might rise to the $0.14 and $0.16 levels. However, if the $0.10 support level fails, the price could fall to the $0.10 and $0.09 levels.
Key Levels:
Resistance levels: $0.11, $0.14, $0.16
Support levels: $0.10, $0.10, $0.09
POL (ex-MATIC) Long-term Trend: Bearish
POL (formerly MATIC) is a cryptocurrency that is currently showing low negative momentum. Its price increased to $0.24 on October 10 and then began to decline. When the price reached a certain high, there was a test at $0.16 two days later. Consumer financial conditions are improving at a slower rate now. Sellers have been active from the start. The price dropped from its peak near the $0.14 level as the sellers became more aggressive. The sellers are now trying to push the price down toward the $0.10 level after it broke above the $0.11 level.
When POL is trading below the Hull Suite crypto signals indicator, the sellers are in control of the market. If POL can overcome the $0.11 resistance level, it might rise to the $0.14 and $0.16 levels. However, if the $0.10 support level fails, the price could fall to the $0.10 and $0.09 levels.
POL (ex-MATIC) – Term Trend: Bearish
POL indicates a decline in four-hour chart. The price movements over the past two weeks near the $0.24 level created a fairly bearish engulfing candle pattern on the 4-hour chart. The situation is improving. The bearish pressure is reducing as the bulls gathering momentum. Even with the bulls’ resistance, the trend has broken through the dynamic support, indicating a strong bearish phase.
A price reduction is reasonable because Hull Suite is now more expensive than POL (formerly MATIC). The contract can be executed if the QQE MOD signal is below zero.
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