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.

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.

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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