Polygon Price May Bounce Up at $0.82 Level 

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Polygon price may increase above $0.87 Level

Polygon (MATICUSD) Price Analysis – 15 May

The $0.95 and $1.01 resistance levels are also reachable if Polygon surpasses the $0.87 resistance level. If sellers are successful in pooling more force, the price may move past the $0.82 support level and be exposed to the $0.76 and $0.70 levels

Key Levels:

Resistance levels: $0.87, $0.95, $1.01

Support levels: $0.82, $0.76, $0.70

MATIC/USD Long-term Trend: Bearish

MATIC/USD is bearish in the long-term outlook. The previous support level of $1.01 was shattered because sellers are putting more pressure on prices than buyers. Three weeks ago, the price ranged from $1.01 to $0.95 levels. Bullish pressure was unable to overcome the $1.01 resistance level, which is still in place. More bearish pressure caused the price to drop at the $0.82 level of support at the moment. The $0.82 support level is now rejecting the price decrease.

MATIC is currently trading below both the 9- and 21-period exponential moving averages at close contact, it is likely that the bulls are gaining strength. The $0.95 and $1.01 resistance levels are also reachable if Polygon surpasses the $0.87 resistance level. If sellers are successful in pooling more force, the price may move past the $0.82 support level and be exposed to the $0.76 and $0.70 levels.

MATIC/USD Short-term Trend: Bullish

Polygon is on the bullish movement on a 4-hour time-frame. For the past four weeks, bears have controlled the MATIC market. On April 26, the $1.01 resistance level blocked the price gain. As the price dropped more, it got closer and closer to $0.87. The first objective was to surpass $0.94, and it was accomplished. Prices are currently bouncing up at the $0.82 threshold on the MATIC market.

Currently, the price of Polygon is higher than the two EMAs. The 9-period EMA has been passed below by the 21-day EMA. The relative strength index’s period 14 signal line is pointing upward at level 55, signaling a buy.

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