Polygon Price May Reverse Positively

An increase in Bulls’ momentum envisaged

Polygon (POL) Price Analysis – 05 August

Polygon Ecosystem Token may be able to advance to the $0.30 and $0.25 difficulty levels after surpassing the $0.35 barrier. The market might be able to overcome the $0.43 resistance level and expose itself to the $0.47 and $0.52 levels if buyers are able to get some momentum.

Key Levels:

Resistance levels: $0.43, $0.47, $0.52

Support levels: $0.35, $0.30, $0.25

POL/USD Long-term Trend: Bearish

The long-term outlook for POL/USD is bleak. The value of cryptocurrencies has decreased as a result of the sell-off that began on June 7. This happened at the $1.27 mark, following the contestants’ match. The total after a three-week cost reduction is $0.35. Consumers are putting an end to more market declines. Bears maintained the level that was recently emphasized. The currency is currently testing the $0.35 support level.

Bears are in charge of the market when POL is trading below the Hull Suite crypto signals indicator. Polygon Ecosystem Token may be able to advance to the $0.30 and $0.25 difficulty levels after surpassing the $0.35 barrier. The market might be able to overcome the $0.43 resistance level and expose itself to the $0.47 and $0.52 levels if buyers are able to get some momentum.

POL/USD Short-term Trend: Bearish

The 4-hour inclination of a polygon is displayed. On the 4-hour time scale, a small double bottom chart pattern was formed as a result of the price action that occurred the previous week around the $0.35 level. It seems that the downward trend is here to stop. Despite sellers’ resistance, the trend is moving higher toward the $0.43 level, which would indicate the end of the negative period.

A price increase makes sense as Polygon is now more costly than Hull Suite. If there is a chance to buy, it can be identified if the QQE MOD indication is more than zero.

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