An increase in price envisaged
Polygon (POL) Price Analysis – 19 August
After breaking through the $0.35 barrier, Polygon Ecosystem Token might be able to go on to the $0.30 and $0.25 difficulty levels. If buyers are able to gain some momentum, the market may be able to break through the $0.43 resistance level and expose itself to the $0.47 and $0.52 levels.
Key Levels:
Resistance levels: $0.43, $0.47, $0.52
Support levels: $0.35, $0.30, $0.25
POL/USD Long-term Trend: Bearish
For POL/USD, the long-term picture is dismal. The selloff that started on June 7 has reduced the value of cryptocurrencies. This occurred after the contestants’ match, at the $1.27 mark. After a three-week cost reduction, the total comes to $0.35. More market falls are coming to an end thanks to consumers. Bears stuck to the level that was highlighted recently. The $0.35 support level is presently being tested by the currency.
When POL is trading below the Hull Suite crypto signals indicator, bears are in control of the market. After breaking through the $0.35 barrier, Polygon Ecosystem Token might be able to go on to the $0.30 and $0.25 difficulty levels. If buyers are able to gain some momentum, the market may be able to break through the $0.43 resistance level and expose itself to the $0.47 and $0.52 levels.
POL/USD Short-term Trend: Bullish
A polygon’s 4-hour inclination is shown. The price action that took place last week around the $0.35 level resulted in the formation of a modest double bottom chart pattern on the 4-hour time scale. The decreasing trend appears to be about to reverse. The trend is rising in the direction of $0.43, which would signal the conclusion of the negative phase, despite the resistance of sellers.
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