Polygon Price May Decrease Below $1.20 Support Level

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Bears may continue to dominate Polygon Market

Polygon (MATICUSD) Price Analysis – 27 February

When the bulls’ momentum picks up even more steam, the price may move past the $1.31 resistance level and be exposed to the $1.43 and $1.54 levels. Polygon may decrease and breach the $1.20 support level, which would drive the price down to the $1.18 and $1.01 support levels if sellers are successful in deterring buyers at the $1.13 resistance level.

Key Levels:

Resistance levels: $1.31, $1.43, $1.54

Support levels: $1.20, $1.18, $1.01

MATIC/USD Long-term Trend: Bearish

MATIC/USD is bearish in the long-term outlook. The MATIC market was dominated by purchasers last three weeks after the formation of the triple bottom chart pattern at the support level of $0.75. The price smashed past resistance at $1.01 and $1.20 as buyers gained strength. The resistance level of $1.54 was tested on February 17. The coin is currently retreating to retest the $1.20 support level. The bearish movement may continue as long as sellers exert more pressure.

The MATIC is trading below the exponential moving averages of both the 9- and 21-periods is evidence of the price decrease. The rapid-moving average is trying to cross a lower downside than the slow-moving average. When the bulls’ momentum picks up even more steam, the price may move past the $1.31 resistance level and be exposed to the $1.43 and $1.54 levels. Polygon may decrease and breach the $1.20 support level, which would drive the price down to the $1.18 and $1.01 support levels if sellers are successful in deterring buyers at the $1.13 resistance level.

MATIC/USD Short-term Trend: Bearish

Polygon is on the bearish movement in a 4-hour time frame. The price crossed the $1.2 threshold and tested the high of $1.5 after the brief range movement that took place between the $1.01 and $0.94 levels three weeks ago. Sellers opposed the rise, it is now falling and attempting to go below the $1.2 mark.

The price is now decreasing as a sign of a bearish market, the Polygon price is trading below the two EMAs. The 9-period EMA is trying to cross the 21-day EMA downside. At 36 levels, the relative strength index period 14’s signal line is pointing in a bearish direction.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • 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
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 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.