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Bears’ momentum may not break down $0.52 level
Polygon (POL) Price Analysis – 01 July
Polygon Ecosystem Token may be able to advance to the $0.45 and $0.35 difficulty levels after breaking through the $0.52 barrier. The market has the potential to overcome the $0.57 resistance level and expose itself to the $0.62 and $0.65 levels if buyers manage to establish some momentum.
Key Levels:
Resistance levels: $0.57, $0.62, $0.65
Support levels: $0.52, $0.45, $0.35
POL/USD Long-term Trend: Bearish
The long-term forecast for POL/USD is not promising. The value of cryptocurrencies has decreased due to the sell-off that began on March 14. This happened at the $1.27 mark, following the contestants’ match. After a three-week cost reduction, $0.52 is the total. Consumers are putting an end to more market declines. Bulls maintained the level that was recently emphasized. It is bouncing between the levels of resistance and support, which are $0.52 and $0.57. This low volatility is a result of this range phase.
Bears control the market when POL is trading below the Hull Suite crypto signals indicator. Polygon Ecosystem Token may be able to advance to the $0.45 and $0.35 difficulty levels after breaking through the $0.52 barrier. The market has the potential to overcome the $0.57 resistance level and expose itself to the $0.62 and $0.65 levels if buyers manage to establish some momentum.
POL/USD Short-term Trend: Bearish
The 4-hour declination of a polygon is displayed. On the 4-hour time scale, the price action from the previous week around the $0.65 level led to the construction of a small double bottom chart pattern. It seems that the bearish trend is holding steady. Despite the resistance of buyers, the trend is going downward toward the $0.52 line, suggesting the conclusion of the range period.
Hull Suite crypto signals is currently more expensive than Polygon, therefore a reduction in pricing seems sense. It may be possible to identify a selling opportunity when the QQE MOD indicator is less than zero.
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