Polygon Price: There Might Be More Opportunities to Buy

Polygon market under bulls’ pressure

Polygon (MATICUSD) Price Analysis – 04 March

Polygon might be able to get above the $1.09 barrier and advance to the challenge levels of $1.15 and $1.25. If sellers gain some traction, the market can break through the $1.03 support level and expose itself to the $0.86 and $0.93 levels.

Key Levels:

Resistance levels: $1.09, $1.15, $1.25

Support levels: $1.03, $0.93, $0.86

MATIC/USD Long-term Trend: Bullish

The long-term outlook for MATIC/USD is positive. The last few weeks have seen an inclination in the price of cryptocurrencies due to the buying trend. This occurred at $0.72 after the competitor’s fight.  A two-week decrease in price preceded the price up to $1.03. Sellers stopped the market from growing further. Bears guarded the level that was previously mentioned. On March 02, it challenged of the $1.03 resistance level before the breakup. The just mentioned level was broken by the coin as it rose. It is currently soaring above $1.03 in an attempt to break through the $1.09 barrier.

When MATIC is trading above the Hull Suite indicator, the market is in the hands of bulls. Polygon might be able to get above the $1.09 barrier and advance to the challenge levels of $1.15 and $1.25. If sellers gain some traction, the market can break through the $1.03 support level and expose itself to the $0.86 and $0.93 levels.

MATIC/USD Short-term Trend: Bullish

A polygon’s 4-hour inclination is shown. A slight double bottom chart pattern was created by the price action during the previous two weeks on the 4-hour time frame near the $0.72 level. It doesn’t seem like the sellers can get the price down to less than $0.72. It faced resistance at $0.86 and then moved forward toward the $1.03 barrier level. At the moment, the resistance level of $1.09 is its target.

Given that Polygon is now more expensive than Hull Suite, price increases are expected. Since the QQE MOD best forex signals indicator is higher than zero, there might be more opportunities to buy.

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