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Buyers are trying to overcome sellers at Polygon market
Polygon (MATICUSD) Price Analysis – 29 April
After breaking through the $0.72 barrier, MATIC might be able to reach the $0.86 and $0.91 difficulty levels. If sellers gain some traction, the market can break through the $0.65 support level and expose itself to the $0.59 and $0.44 levels.
Key Levels:
Resistance levels: $0.72, $0.86, $0.91
Support levels: $0.65, $0.59, $0.44
MATIC/USD Long-term Trend: Bearish
For MATIC/USD, the long-term picture is bleak. The price of cryptocurrencies has dropped as a result of the selling trend that started on March 14. This occurred at the $1.27 mark after the match between the contestants. Following a fortnightly reduction in cost, the sum is $0.72. Customers are stopping the market from falling further. The level that was recently highlighted was defended by bulls. It is currently in a consolidation phase and could break up towards the resistance level of $0.86.
When MATIC is trading above the Hull Suite crypto signals indicator, bulls are in charge of the market. After breaking through the $0.72 barrier, Polygon might be able to reach the $0.86 and $0.91 difficulty levels. If sellers gain some traction, the market can break through the $0.65 support level and expose itself to the $0.59 and $0.44 levels.
MATIC/USD Short-term Trend: Bearish
A polygon’s 4-hour declination is shown. On the 4-hour time scale, the price action from the previous week around the $1.27 level produced a moderate head and shoulder chart pattern. It seems that there is a $1.27 price cap for the buyers. It fell in the direction of the $0.96 ceiling and the $0.72 support level. Right now, there are bearish indicators on it.
Given that Hull Suite is now less affordable than Polygon, raising the price makes logical. When the QQE MOD indicator is less than zero, a selling opportunity can be indicated.
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