Bulls may dominate Polygon market soon
Polygon (POL) Price Analysis – 02 September
After breaking through the $0.35 barrier, Polygon Ecosystem Token might be able to go on to the $0.30 and $0.25 difficulty levels. If buyers are able to gain some momentum, the market may be able to break over the $0.43 resistance level and expose itself to the $0.47 and $0.52 levels.
Key Levels:
Resistance levels: $0.43, $0.47, $0.52
Support levels: $0.35, $0.30, $0.25
POL/USD Long-term Trend: Bearish
For POL/USD, the long-term prognosis is unfavorable. The coin tested the low of $0.35 level on August 5 when the selloff started on June 7. This occurred after the contestants’ match, at the $1.27 mark. After a cost reduction of three weeks, the remaining sum is $0.35. Consumers are stopping further market downturns. Bulls defended the level that was just mentioned. The currency increased and tested the resistance level of $0.62. Bulls were opposed at the mentioned level and the previous low is the target.
When POL is trading below the Hull Suite crypto signals indicator, bears are in control of the market. After breaking through the $0.35 barrier, Polygon Ecosystem Token might be able to go on to the $0.30 and $0.25 difficulty levels. If buyers are able to gain some momentum, the market may be able to break over the $0.43 resistance level and expose itself to the $0.47 and $0.52 levels.
POL/USD Short-term Trend: Bearish
A polygon’s 4-hour declination is shown. The price action last week around the $0.35 level resulted in the formation of a modest double top chart pattern on the 4-hour time frame. The downward trend appears to be about to reverse. The trend is decreasing toward $0.35, which would signify the conclusion of the negative phase, despite buyers’ resistance.
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