Polygon Price: Sellers’ Pressure Increases Further Towards $0.57 Level

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.

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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.

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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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