Polygon Price May Break Up Towards North

Bulls are defending $0.65 support level

Polygon (MATICUSD) Price Analysis – 27 May

After overcoming the $0.72 barrier, Polygon might be able to reach the $0.86 and $0.91 difficulty levels. If sellers gain some traction, the market can break through the $0.65 support level and expose itself to the $0.59 and $0.55 levels

Key Levels:

Resistance levels: $0.72, $0.86, $0.91

Support levels: $0.65, $0.59, $0.55

MATIC/USD Long-term Trend: Bearish

The long-term outlook for MATIC/USD is dire. The value of cryptocurrencies has decreased as a result of the sell-off that started on March 14. This occurred after the contestants’ match, at the $1.27 mark.  After a two-week cost reduction, $0.72 is the final total. More market falls are coming to an end thanks to consumers. Bulls held onto the level that was highlighted recently. It is fluctuating between the support and resistance levels of $0.65 and $0.72. The current range phase is to blame for the low volatility.

When MATIC is trading above the Hull Suite crypto signals indicator, bulls are in charge of the market. After overcoming the $0.72 barrier, Polygon might be able to reach the $0.86 and $0.91 difficulty levels. If sellers gain some traction, the market can break through the $0.65 support level and expose itself to the $0.59 and $0.55 levels.

MATIC/USD Short-term Trend: Bearish

A polygon’s 4-hour declination is shown. On the 4-hour time scale, the price action from the previous week around the $0.65 level produced a tiny double-bottom chart pattern. It appears that there is a $0.86 price cap for buyers. A range phase resulted from the trend increasing toward the $0.91 ceiling despite sellers’ resistance.

Given that Hull Suite is now less expensive than Polygon, a price rise makes logical. When the QQE MOD indicator is more than zero, a buying opportunity might be discerned.

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