Polygon Price Experiencing a Ranging Movement

Bull may take over Polygon market soon

Polygon (MATICUSD) Price Analysis – 20 May

Polygon might be able to achieve the $0.86 and $0.91 difficulty levels after getting over the $0.72 obstacle. The market may breach the $0.65 support level and expose itself to the $0.59 and $0.55 levels if sellers pick up some momentum.

Key Levels:

Resistance levels: $0.72, $0.86, $0.91

Support levels: $0.65, $0.59, $0.55

MATIC/USD Long-term Trend: Bearish

For MATIC/USD, the long-term picture is bleak. The sell-off that began on March 14 has caused a decline in the value of cryptocurrencies. This happened at the $1.27 mark, following the contestants’ match.  Following a two-week cost reduction, the total comes to $0.72. Consumers are putting an end to more market declines. Bulls maintained the level that was recently emphasized. It is ranging within $0.72 resistance level and $0.65 support level. Due to the present range phase, the volatility is low.

Bulls control the market when MATIC is trading above the Hull Suite crypto signals indicator. Polygon might be able to achieve the $0.86 and $0.91 difficulty levels after getting over the $0.72 obstacle. The market may breach the $0.65 support level and expose itself to the $0.59 and $0.55 levels if sellers pick up some momentum. Join best forex signals telegram.

MATIC/USD Short-term Trend: Bearish

The 4-hour declination of a polygon is displayed. The price action from the previous week around the $0.65 level resulted in a small double-bottom chart pattern on the 4-hour time scale. Looks like buyers are subject to a $0.86 price cap. Although sellers were resisting the movement, it was rising in the direction of the $0.91 ceiling, which led to a range phase.

 

A price increase makes sense because Hull Suite is now less expensive than Polygon. It may be possible to identify a purchasing opportunity when the QQE MOD indicator is greater than zero.

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