POL retesting previous low at $0.57
Polygon (POL) Price Analysis – 17 June
Polygon Ecosystem Token might be able to make it to the $0.65 and $0.70 difficulty levels after getting over the $0.62 obstacle. The market may breach the $0.57 support level and expose itself to the $0.45 and $0.35 levels if sellers gather some momentum.
Key Levels:
Resistance levels: $0.62, $0.65, $0.70
Support levels: $0.57, $0.45, $0.35
POL/USD Long-term Trend: Bearish
The long-term picture for POL/USD is not good. The value of cryptocurrencies has decreased as a result of the sell-off that began on March 14. This happened at the $1.27 mark, following the contestants’ match. The total price after a two-week cost decrease is $0.72. Further market downturns are being halted by consumers. Bulls maintained the level that was recently emphasized. It is oscillating between the resistance and support levels of $0.62 and $0.57. This low volatility is a result of this range phase.
Bulls control the market when POL is trading above the Hull Suite crypto signals indicator. Polygon Ecosystem Token might be able to make it to the $0.65 and $0.70 difficulty levels after getting over the $0.62 obstacle. The market may breach the $0.57 support level and expose itself to the $0.45 and $0.35 levels if sellers gather some momentum.
POL/USD Short-term Trend: Bearish
The 4-hour declination of a polygon is displayed. A minor double bottom chart pattern formed on the 4-hour time scale as a result of the price action from the previous week around the $0.65 level. It seems that the bearish trend is still in effect. Despite buyers’ resistance, the trend is declining toward the $0.57 level, signaling the a range period.
A price drop makes sense, since Hull Suite is now more costly than Polygon. It may be possible to identify a selling opportunity when the QQE MOD indicator is less than zero.
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