Polygon Price May Retest $0.52 Support Level

POL under bearish pressure

Polygon (POL) Price Analysis – 24 June

After overcoming the $0.52 barrier, Polygon Ecosystem Token might be able to reach the $0.45 and $0.35 difficulty levels. If buyers gain some traction, the market can break through the $0.57 resistance level and expose itself to the $0.62 and $0.65 levels.

Key Levels:

Resistance levels: $0.57, $0.62, $0.65

Support levels: $0.52, $0.45, $0.35

POL/USD Long-term Trend: Bearish

POL/USD’s long-term outlook is not favorable. The sell-off that started on March 14 has reduced the value of cryptocurrencies. This occurred after the contestants’ match, at the $1.27 mark. Following a three-week cost reduction, the final cost is $0.52. Customers are stopping further market downturns. Bulls held onto the level that was highlighted recently. The levels of resistance and support, which are $0.52 and $0.57, are where it is oscillating. This range phase is the cause of this low volatility.

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When POL is trading below the Hull Suite crypto signals indicator, bears are in charge of the market. After overcoming the $0.52 barrier, Polygon Ecosystem Token might be able to reach the $0.45 and $0.35 difficulty levels. If buyers gain some traction, the market can break through the $0.57 resistance level and expose itself to the $0.62 and $0.65 levels.

POL/USD Short-term Trend: Bearish

A polygon’s 4-hour declination is shown. The price action from the previous week around the $0.65 level resulted in the formation of a modest double bottom chart pattern on the 4-hour time scale. The bearish trend appears to be continuing. The trend is pointing downward toward the $0.52 mark, indicating the end of the range period, despite buyers’ resistance.

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Given that Hull Suite is now more expensive than Polygon, a price decrease makes reasonable. When the QQE MOD indicator is less than zero, a selling opportunity might be discerned.

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