Polygon Price Retreats From Previous High at $0.94 Level
Login

Polygon Price Retreats From Previous High at $0.94 Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Bears’ Momentum restored

Polygon (MATICUSD) Price Analysis – 27 November

For Polygon to break beyond the resistance levels of $0.87 and $0.94, it must first overcome the $0.76 barrier. If sellers gain some traction, the market can break through the $0.70 support level and expose itself to the $0.64 and $0.59 levels.

Key Levels:

Resistance levels: $0.76, $0.87, $0.94

Support levels: $0.70, $0.64, $0.59

MATIC/USD Long-term Trend: Bearish

In the long run, the forecast for MATIC/USD is bearish. Cryptocurrency was under the buyers’ pressure last two weeks. This happened after it found support at $0.49.  The positive momentum caused the price to rise to a high of the $0.97 barrier level before the declining trend started last week. The market was prevented from inclining further by sellers. MATIC split apart the $0.87 and $0.76 levels. It retreated after testing $0.70 last week. It is currently down against the support level of $0.70.

Bears are in charge of the market when MATIC trading is below exponential moving averages and 9-EMA periods are below 21-EMA. For Polygon to break beyond the resistance levels of $0.87 and $0.94, it must first overcome the $0.76 barrier. If sellers gain some traction, the market can break through the $0.70 support level and expose itself to the $0.64 and $0.59 levels.

MATIC/USD Short-term Trend: Bearish

The 4-hour declination of a polygon is displayed. The price action on the 4-hour time frame resulted in a double top chart pattern at $0.94 from the previous week. It appears that purchasers are unable to increase the price above $0.94. Due to sellers’ demand, the price is decreasing and has challenged the $0.7 6 mark. The $0.76 support level is tested. Right now, it is leaning toward the $0.70 mark.

Polygon’s price is currently below both EMAs. The 9-day EMA is crossing the 21-period EMA downside. At level 38, the period 14 signal line of the relative strength index is bearish, indicating a sell moment.

You can purchase Lucky Block here.  Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News