Polygon Price: Bulls Are Opposing Further Reduction at $0.65 Level

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.

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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.

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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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