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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.
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.
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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