Polygon Price: Further Increase in Bears’ Momentum May Reduce Price to $1.12

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

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.


Bears may take over Polygon Market

Polygon (MATICUSD) Price Analysis – 06 February

Polygon can advance past the $1.31 resistance level and be exposed to the $1.40 and $1.49 levels when the bulls’ momentum takes up even more oomph. If sellers are successful in discouraging buyers at the $1.31 resistance level, Polygon may decline and breach the $1.19 support level, which would lower the price to the $1.12 and $1.01 support levels.

Key Levels:

Resistance levels: $1.31, $1.40, $1.49

Support levels: $1.19, $1.12, $1.01

MATIC/USD Long-term Trend: Bullish

MATIC/USD is bullish in the long-term outlook. The triple bottom chart pattern formed at the support level of $0.76 on January 02 is still driven the MATICUSD upside. MATIC market is still dominated by buyers. Buyers’ pressure was sufficient to cause the currency to advance northward. The price passed through the $1.12 and $1.19 resistance levels as buyers gained strength. The resistance level of $1.31 was tested on 04 February. The coin is pulling back at the moment.

The price rose and tested the $1.31 level. MATIC retains its trading above both the 9- and 21-period exponential moving averages at close range which confirms the pulling back of the price. The fast-moving average’s upside has surpassed the slow-moving average’s. The price can advance past the $1.31 resistance level and be exposed to the $1.40 and $1.49 levels when the bulls’ momentum takes up even more oomph. If sellers successfully discourage buyers at the $1.31 resistance level, Polygon may decline and breach the $1.19 support level, which would lower the price to the $1.12 and $1.01 support levels.

MATIC/USD Short-term Trend: Bearish

Polygon is on the bearish movement in a 4-hour time frame. The brief ranging movement that took place last two weeks within the $1.01 and $0.94 levels was brought to an end when the bulls prevailed over the bears. The price started moving upward and reached the $1.31 barrier level last week. It seems the bullish momentum is exhausted and the price is declining gradually.

The Polygon price is trading below the two EMAs as a sign of a bearish market. The 9-day EMA is crossing the 21-period EMA downside. The signal line on the relative strength index period 14 shows a bearish direction at 47 levels.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • 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 *