Polygon Price May Not Break Up $0.86 Level

Bears’ momentum increases in Polygon market

Polygon (MATICUSD) Price Analysis – 12 February

After breaking through the $0.86 barrier, Polygon may beat the obstacle levels of $0.94 and $1.03. The market may breach the $0.72 support level and expose itself to the $0.65 and $0.59 levels if sellers find some momentum.

Key Levels:

Resistance levels: $0.86, $0.94, $1.03

Support levels: $0.72, $0.65, $0.59

MATIC/USD Long-term Trend: Bullish

The long-term forecast for MATIC/USD is dire. The momentum of selling has caused the price of cryptocurrencies to decline over the past four weeks. At $1.09, this happened following the confrontation with the opponent.  The price was rejected at the $1.09 mark before the most recent two-week uptrend. Sellers prevented the market from increasing further. The level that was previously stated was guarded by bears. It tested the $0.72 support level on January 23 and bounced up to retest the resistance level of $0.86.

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The market is in the hands of bulls when MATIC is trading above the Hull Suite indicator. After breaking through the $0.86 barrier, Polygon may beat the obstacle levels of $0.94 and $1.03. The market may breach the $0.72 support level and expose itself to the $0.65 and $0.59 levels if sellers find some momentum according to forex signala.

MATIC/USD Short-term Trend: Bearish

The 4-hour declination of a polygon is displayed. The price action on the 4-hour time frame near the $0.72 level from the previous week formed a modest double bottom chart pattern. It appears that the sellers are unable to reduce the price to less than $0.72. At $0.72, it resisted and moved in the direction of the resistance level at $0.86. Sellers resisted the MATIC price last week, and it is currently going for the prior low point.

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Prices are anticipated to decrease because Polygon is currently less expensive than Hull Suite. There may be more opportunities to sell because the QQE MOD indicator is below zero.

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