Polygon Price Can Break Through $0.94 Level If Buyers Gain Traction

Buyers’ Momentum Increases

Polygon (MATICUSD) Price Analysis – 13 November

Before attempting to cross the resistance levels of $0.98 and $1.0, Polygon must first overcome the $0.94 barrier. If sellers gain some traction, the market can break through the $0.87 support level and expose itself to the $0.76 and $0.70 levels

Key Levels:

Resistance levels: $0.94, $0.98, $1.0

Support levels: $0.87, $0.76, $0.70

MATIC/USD Long-term Trend: Bullish

For MATIC/USD, the long-term prognosis is favorable. Cryptocurrency found support at $0.49. For about two weeks, it oscillated between $0.49 and $0.59.  The negative momentum caused the price to drop to a low of the $0.49 barrier level, following which the negative trend started to reverse. Buyers guarded the $0.49 support level, preventing a further decline. MATIC broke up $0.70, and $0.87 levels. It is currently facing a resistance level of $0.94.

Bulls are in control of the market when 9-EMA periods are above 21-EMA and MATIC trading above exponential moving averages. Before attempting to cross the resistance levels of $0.98 and $1.0, Polygon must first overcome the $0.94 barrier. If sellers gain some traction, the market can break through the $0.87 support level and expose itself to the $0.76 and $0.70 levels.

MATIC/USD Short-term Trend: Bullish

The 4-hour inclination of a polygon is displayed. The price movement on the 4-hour time frame resulted in a double bottom chart pattern at $0.49 from the prior week. It appears that retailers are unable to reduce the price below $0.49. Buyer demand is driving up the price, which is getting close to the $0.94 mark. Due to the previously mentioned level of discord between buyers and sellers, the price is currently inclining.

At the moment, Polygon’s price is above both EMAs. The dropping 9-period EMA is crossing the climbing 21-day EMA. The relative strength index’s period 14 signal line is pointing upward at level 73, suggesting a buy.

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