Polygon Price: Bullish Reversal Movement Is Possible at $0.59 Level

Sellers are dominating Polygon market

Polygon (MATICUSD) Price Analysis – 15 April

After breaking through the $0.86 barrier, Polygon might be able to advance to the $0.91 and $0.94 difficulty levels. If sellers gain some traction, the market can break through the $0.72 support level and expose itself to the $0.65 and $0.59 levels.

Key Levels:

Resistance levels: $0.86, $0.91, $0.94

Support levels: $0.72, $0.65, $0.59

MATIC/USD Long-term Trend: Bearish

The MATIC/USD long-term outlook is bearish. The price of cryptocurrencies has increased as a result of the recent buying trend. This occurred at the $0.72 mark after the match between the competitors.  Following a fortnight of price increases, the sum amounted to $1.27. Suppliers stopped the market from growing further. The level that was just indicated was guarded by bears. On April 5, it reversed course and dropped to the $0.59 support level. The coin is currently pulling back.

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When MATIC is trading below the Hull Suite crypto signals indicator, bears are in charge of the market. After breaking through the $0.86 barrier, Polygon might be able to advance to the $0.91 and $0.94 difficulty levels. If sellers gain some traction, the market can break through the $0.72 support level and expose itself to the $0.65 and $0.59 levels.

MATIC/USD Short-term Trend: Bearish

A polygon’s 4-hour declination is shown. On the 4 hours, the price action of the previous week around the $1.27 level produced a small head and shoulder chart pattern. The purchasers seem to be limited to a $1.27 price. It declined in the direction of the $0.96 ceiling and the $0.86 support level. Right now, there are bullish reversal indicators on it.

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A price reduction makes sense because Polygon is now more affordable than Hull Suite. When the QQE MOD indicator is more than zero, there can be an opportunity to buy.

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