Bullish trend may continue in Polygon Market
Polygon (MATICUSD) Price Analysis – 03 April
The $1.01 support level may be breached by Polygon, which would cause the price to fall to the $0.94 and $0.87 support levels. The price may rise above the $1.12 resistance level and be exposed to the $1.20 and $1.31 levels if buyers are successful in assembling more force.
Key Levels:
Resistance levels: $1.12, $1.20, $1.31
Support levels: $1.01, $0.94, $0.87
MATIC/USD Long-term Trend: Bearish
MATIC/USD is bearish in the long-term outlook. After reaching a high of $1.54, the price of cryptocurrencies began to fall. Sellers exert further pressure as additional bearish pressure develops. It broke through the prior support thresholds of $1.42 and $1.31 on March 10 and found support at $0.94. The resistance levels of $1.20 and $1.12 were broken by the price drop. It is currently up against the $1.01 support level.
In a sign of bearish movement, MATIC is currently trading just below both the 9- and 21-period exponential moving averages. The $1.01 support level may be breached by Polygon, which would cause the price to fall to the $0.94 and $0.87 support levels. The price may rise above the $1.12 resistance level and be exposed to the $1.20 and $1.31 levels if buyers are successful in assembling more force.
MATIC/USD Short-term Trend: Ranging
Polygon is on the ranging movement in a 4-hour time-frame. The MATIC market was under the control of bears last week. The price rise was rejected on March 13 at the $1.20 resistance level. The price is declining under additional adverse pressure toward the $1.01 resistance level. The price breached the $1.01 barrier which was the previous aim. The MATIC market is currently ranging between $1.12 and $1.01 levels.
The price of Polygon is currently hovering over the two EMAs. The 21-day EMA is interlocked with the 9-period EMA. The signal line for period 14 of the relative strength index is trending upward at 52 levels. You can purchase Lucky Block here. Buy LBLOCK
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