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.

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.

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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