Polygon Price: Could It Be a Bearish Reversal?

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Polygon price retesting $0.76 level

Polygon (MATICUSD) Price Analysis – 17 July

The market may move past the $0.76 support level and be exposed to the $0.70 and $0.64 levels if sellers are successful in unifying their forces. Polygon must first get through the $0.82 resistance level before attempting to cross the $0.87 and $0.94 resistance levels.

Key Levels:

Resistance levels: $0.82, $0.87, $0.94

Support levels: $0.76, $0.70, $0.64

MATIC/USD Long-term Trend: Bullish

The outlook for MATIC/USD over the long run is favorable. The price action played as it was predicted two weeks ago. The formation of a double bottom chart pattern at the support level of $0.56 indicates an increase in the bulls’ momentum. The price increases by breaking up the former resistance level of $0.64, $0.70, and $0.76 levels. The resistance level of $0.82 was tested last week. It is currently pulling back retesting the support level of $0.76.

MATIC is trading above both the 9- and 21-period exponential moving averages at close range, buying is advised. The market may move past the $0.76 support level and be exposed to the $0.70 and $0.64 levels if sellers are successful in unifying their forces. Polygon must first get through the $0.82 resistance level before attempting to cross the $0.87 and $0.94 resistance levels.

MATIC/USD Short-term Trend: Bearish

Polygon is on a bearish movement on a 4-hour time horizon. Bulls started dominating the Polygon market when the double bottom chart pattern appear at the support level of $0.56. The price increased and the resistance level of $0.87 was tested. That was our target last two weeks. The price pulled back and it is trying to break down the support level of $0.76.

The price of Polygon is trading below the two EMAs. The 9-period EMA has crossed the 21-day EMA downside. The relative strength index’s period 14 signal line is pointing downward at level 47, signaling a sell.

You can purchase Lucky Block here.  Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *