Polygon Price: Bearish Movement Below $0.86 Level Is Possible

Sellers are dominating Polygon market

Polygon (MATICUSD) Price Analysis – 08 April

Polygon might be able to move on to the $0.94 and $0.96 difficulty levels after conquering the $0.91 barrier. The market may breach the $0.86 support level and expose itself to the $0.72 and $0.65 levels if sellers gather some momentum.

Key Levels:

Resistance levels: $0.91, $0.94, $0.96

Support levels: $0.86, $0.72, $0.65

MATIC/USD Long-term Trend: Bearish

The long-term forecast for MATIC/USD is dismal. The recent buying trend has resulted in a surge in the price of cryptocurrencies. This happened at the $0.72 point following the bout between the rivals.  After two weeks of price hikes, the total came to $1.27. Suppliers prevented further market expansion. Bears guarded the level that was just indicated. It turned around and decreased to the $0.86 support level on 05 April. The coin is now receding.

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Bears control the market when MATIC is trading below the Hull Suite crypto signals indicator. Polygon might be able to move on to the $0.94 and $0.96 difficulty levels after conquering the $0.91 barrier. The market may breach the $0.86 support level and expose itself to the $0.72 and $0.65 levels if sellers gather some momentum.

MATIC/USD Short-term Trend: Bearish

The 4-hour declination of a polygon is displayed. The price action during the previous week around the $1.27 level resulted in a minor head and shoulder chart pattern on the 4-hour time scale. It appears that the buyers can only obtain a $1.27 price. It moved down toward the $0.96 barrier and down toward the $0.86 support level. It is now exhibiting bearish reversal signals.

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A price drop makes sense, considering Polygon is now less costly than Hull Suite. There may be additional possibilities to sell when the QQE MOD indicator is less than zero.

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