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Polygon market is being pressured by bulls
Polygon (MATICUSD) Price Analysis – 11 March
Polygon could be able to get beyond the $1.23 barrier and reach the $1.30 and $1.45 challenge levels. The market may breach the $1.15 support level and expose itself to the $1.09 and $1.03 levels if sellers gather some momentum.
Key Levels:
Resistance levels: $1.23, $1.30, $1.45
Support levels: $1.15, $1.09, $1.03
MATIC/USD Long-term Trend: Bullish
For MATIC/USD, the long-term prognosis is favorable. The recent buying trend has caused a little upward trend in cryptocurrency prices. This happened at $0.72 level following the bout between the competitors. There was a price increase of two weeks until the price reached $1.03. Buyers prevented further reduction of the market. The level that was previously stated was guarded by bulls. Before breaking up, it attempted to test the resistance level at $1.03 on March 2. The coin broke through the previously indicated level as it rose. In an effort to surpass the $1.23 barrier, it is presently surging above $1.15.
Bulls control the market when MATIC is trading above the Hull Suite crypto signals indicator. Polygon could be able to get beyond the $1.23 barrier and reach the $1.30 and $1.45 challenge levels. The market may breach the $1.15 support level and expose itself to the $1.09 and $1.03 levels if sellers gather some momentum.
MATIC/USD Short-term Trend: Bullish
The 4-hour inclination of a polygon is displayed. The price movement over the last two weeks on the 4-hour time frame near the $0.72 level formed a modest double-bottom chart pattern. The sellers don’t appear to be able to lower the price to less than $0.72. After encountering resistance at $0.86, it advanced in the direction of the $1.03 barrier. Its current goal is the $1.23 barrier level.
Price rises are to be expected since Polygon is now more expensive than Hull Suite. There may be additional opportunities to purchase because the QQE MOD indicator is higher than zero.
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