Bulls dominate the polygon market
Polygon (MATICUSD) Price Analysis – Oct 07
Further pressure from buyers will lead to a break of the $0.90 resistance level, which could lead to an increase in the price to $1.01 and the $1.18 resistance levels. In case the sellers come under more pressure, the polygon price may drop to the $0.74 support and $0.64 support.
Resistance Levels: $0.90, $1.01, $1.18
Support Levels: $0.74, $0.64, $0.47
MATIC/USD Long-term trend: bullish
The long-term , matic / dollar The price is in an uptrend. The currency was in a downtrend last week. Sellers dominated the market on September 13th at the $0.90 resistance level with a bearish engulfing candle forming. MATIC fell below the $0.74 support level. The bulls gained more momentum and brought the price back to the previous high of $0.90. At the moment bulls are actively controlling the polygon market.
Polygon is trading above 9 period EMA and 21 period EMA with the previous period above. Further pressure from buyers will lead to a break of the $0.90 resistance level, which could lead to an increase in the price to $1.01 and the $1.18 resistance levels. In case the sellers get more pressure, MATIC price may drop to the $0.74 support and $0.64 support level.
Your capital is in danger
MATIC/USD Short term trend: bullish
A bullish polygon in the medium term outlook. The sellers managed to push the price to the $0.74 support level. The bulls successfully defended the just mentioned support level. matic The price is rising as more bullish candles are formed. The price is increasing towards the $0.90 resistance level.
Polygon price is trading above the two exponential moving averages (EMA) with a close distance between them which indicates an uptrend. The 9-day moving average is above the 21-period exponential moving average. RSI period 14 is at 59 levels with the signal line pointing down to indicate a sell signal.
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