Polygon Price: Additional Selling Opportunities Envsaged

Polygon market is dominated by bears

Polygon (MATICUSD) Price Analysis – 18 March

After breaking through the $1.09 barrier, Polygon might be able to advance to the $1.15 and $1.27 difficulty levels. If sellers gain some traction, the market can break through the $1.03 support level and expose itself to the $0.93 and $0.86 levels.

Key Levels:

Resistance levels: $1.09, $1.15, $1.27

Support levels: $1.03, $0.93, $0.86

MATIC/USD Long-term Trend: Bearish

For MATIC/USD, the outlook is negative in the long run. The price of cryptocurrencies has slightly increased as a result of the recent buying trend. This occurred at the $0.72 level after the competitors’ fight.  Two weeks were added to the price before it hit $1.27. Sellers stopped the market from getting bigger yet. Bears were defending the previously mentioned level. On March 14, it tried to bounce off the resistance level at $1.27. As it descended, the coin broke through the level that had been previously stated. It is currently decreasing towards $1.03.

When MATIC is trading below the Hull Suite crypto signals indicator, bears are in charge of the market. After breaking through the $1.09 barrier, Polygon might be able to advance to the $1.15 and $1.27 difficulty levels. If sellers gain some traction, the market can break through the $1.03 support level and expose itself to the $0.93 and $0.86 levels.

MATIC/USD Short-term Trend: Bearish

A polygon’s 4-hour declination is shown. A slight head and shoulder chart pattern was generated by the price action during the previous last week on the 4-hour time frame, close to the $1.27 level. It doesn’t seem like the buyers can get the price above the $1.27. It broke through support at $1.15 and proceeded toward the $1.03 barrier. Right now, the just-mentioned barrier level is its objective.

Given that Polygon is now less expensive than Hull Suite, price decreases are to be expected. The QQE MOD indicator is less than zero, which suggests that there might be more opportunities to sell.

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