Polygon Price May Bounce Up at $0.65 Level

Bulls are preventing further price deccrease

Polygon (MATICUSD) Price Analysis – 03 June

Polygon might be able to make it to 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 gather 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 outlook is bleak. Because of the sell-off that began on March 14, the value of cryptocurrencies has dropped. This happened at the $1.27 mark, following the contestants’ match. The ultimate sum after a two-week cost decrease is $0.72. Customers are putting an end to more market declines. Bulls maintained the level that was recently emphasized. It is oscillating between $0.65 and $0.72, which are the levels of support and resistance. The reason behind the low volatility is the present range phase.

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Bulls control the market when MATIC is trading above the Hull Suite crypto signals indicator. Polygon might be able to make it to 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 gather some momentum.

 

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 created a small double bottom chart pattern on the 4-hour time scale. It looks like buyers are subject to a $0.86 price cap. Despite sellers’ resistance, the trend increased toward the $0.91 ceiling, resulting in a range phase.

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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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