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Buyers are increasing in Polygon market
Polygon (MATICUSD) Price Analysis – 06 May
Polygon might be able to get to the $0.91 and $0.93 difficulty levels after surpassing the $0.86 barrier. The market may breach the $0.72 support level and expose itself to the $0.65 and $0.59 levels if sellers acquire some momentum.
Key Levels:
Resistance levels: $0.86, $0.91, $0.93
Support levels: $0.72, $0.65, $0.59
MATIC/USD Long-term Trend: Bullish
MATIC/USD long-term picture is bullish. The sell-off that began on March 14 has caused a decrease in the value of cryptocurrencies. This happened at the $1.27 mark following the contestants’ match. After a two-week cost reduction, the total is $0.72. Consumers are preventing additional market declines. Bulls defended the level that was recently emphasized. It is breaking up in the direction of the $0.86 resistance level as it is presently in a bullish period.
Bulls control the market when MATIC is trading above the Hull Suite crypto signals indicator. Polygon might be able to get to the $0.91 and $0.93 difficulty levels after surpassing the $0.86 barrier. The market may breach the $0.72 support level and expose itself to the $0.65 and $0.59 levels if sellers acquire some momentum.
MATIC/USD Short-term Trend: Bullish
The 4-hour inclination of a polygon is displayed. The price action from the previous week around the $0.65 level created a moderate double-bottom chart pattern on the 4-hour time scale. It appears that buyers are subject to a $0.86 price cap. It is increasing toward the $0.86 resistance level and the $0.91 ceiling. There are bullish indicators on it at the moment.
An increase in pricing makes sense, considering that Hull Suite is currently less expensive than Polygon. It is possible to identify a buying opportunity when the QQE MOD indicator is more than zero level.
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