Polygon Price May Continue a Bearish Movement Below $0.96 Level

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Sellers will soon dominate Polygon market

Polygon (MATICUSD) Price Analysis – 01 April

After breaking through the $1.03 barrier, Polygon might be able to advance to the $1.09 and $1.15 difficulty levels. If sellers gain some traction, the market can break through the $0.96 support level and expose itself to the $0.93 and $0.91 levels.

Key Levels:

Resistance levels: $1.03, $1.09, $1.15

Support levels: $0.96, $0.93, $0.91

MATIC/USD Long-term Trend: Bearish

MATIC/USD long-term outlook is dire. The price of cryptocurrencies has increased as a result of the recent buying trend. This occurred at the $0.72 mark after the competitors’ fight.  Two weeks of price increases brought the total to $1.27. Suppliers kept the market from growing even more. The level that was just indicated was guarded by bears. On March 19, it reversed and broke through the support level at $0.96. At the moment, the coin is retreating.

When MATIC is trading below the Hull Suite crypto signals indicator, bears are in charge of the market. After breaking through the $1.03 barrier, Polygon might be able to advance to the $1.09 and $1.15 difficulty levels. If sellers gain some traction, the market can break through the $0.96 support level and expose itself to the $0.93 and $0.91 levels.

MATIC/USD Short-term Trend: Bearish

A polygon’s 4-hour declination is shown. A modest head and shoulder chart pattern was created on the 4-hour time scale by the price movement that occurred throughout the previous week around the $1.27 level. It seems that the buyers are only able to get a price of $1.27. It advanced in the direction of the $0.96 barrier and below the $1.09 support level. Now, it’s showing signs of a bearish reversal.

Given that Polygon is now less expensive than Hull Suite, a price fall is reasonable. Given that the QQE MOD indication is less than zero, there might be more opportunities to sell.

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