POL market under bears’ control
POL (prev.MATIC) Price Analysis – 09 February
POL may rise to the $0.10 and $0.12 levels if it can overcome the resistance level at $0.9. However, if the $0.08 support level is broken, the price may fall to the $0.07 and $0.06 levels.
Key Levels:
Resistance levels: $0.9, $0.10, $0.12
Support levels: $0.08, $0.07, $0.06
POL (prev.MATIC) Long-term Trend: Bearish
POL (prev. MATIC) is one cryptocurrency that is now showing low negative velocity. Its price fell to $0.10 on January 1st before beginning to increase. Two days after the price hit a predetermined low, there was a test at $0.14. Consumer finances improved more slowly last week. Buyers have been active from the start. From its high of about $0.14, the price decreased as sellers became more assertive. Once the $0.12 barrier has been reached. To retest $0.12, it retreated. Right now, sellers are trying to get the price down to $0.08.
When POL is trading below the Hull Suite crypto signals indicator, sellers are in charge of the market. POL may rise to the $0.10 and $0.12 levels if it can overcome the resistance level at $0.9. However, if the $0.08 support level is broken, the price may fall to the $0.07 and $0.06 levels.
POL (prev.MATIC) Medium –Term Trend: Bearish
The four-hour graphic indicates that POL is declining. On the 4-hour chart, the price fluctuations over the previous two weeks around the $0.12 level resulted in a reasonably strong engulfing candle pattern. The price fell after finding support at $0.10. So yet, nothing has changed. The bullish drive is waning as the bears gain ground. Despite the bulls’ resistance, the trend has breached the dynamic support, indicating a strong bearish phase.
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