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From a broader perspective of the Polygon market, the price has been in a general uptrend since it found a significant support level at $0.696 on the 22nd of September. Along the line, selling pressure has made the trend experience some price retracement, however, from each price retracement, buyers were able to secure new higher support and new higher resistance.
Polygon Market Price Statistic:
- MATIC/USD price now: $0.88
- MATIC/USD market cap: $7,823,319,429
- MATIC/USD circulating supply: 8.73Billion
- MATIC/USD total supply: 10,000,000,000
- MATIC/USD coin market ranking: #11
Key Levels
- Resistance: $0.900, $0.950, $1.000
- Support: $0.8250, $0.8000, $0.761
Polygon Market Price Analysis: The Indicators’ Point of View
The $0.900 price level has been a major resistance level that Polygon needs to break if it must establish its bullish trend. MATICUSD had fallen from above the $0.900 price level (precisely at $0.943) on the 12th of September. The price dipped lower than its previous support level. But in today’s market, we see how the bullish move tests the price level before it was rejected again. In response to strong bullish activities in yesterday’s market and the early hours of today, the Bollinger indicator widens its upper and lower band. However, due to the bearish market that ensued in today’s market, the upper band is retracting too soon. RSI line has also retracted to 59% from 63% between yesterday and today. However, the MACD histograms still show strong bullish activities.
MATIC/USD 4-Hour Chart Outlook
Also from this standpoint, the MACD indicator still has bullish histograms. So far the greenish histograms have not turned to a faded green colour to indicate increasing selling pressure. This may be because the bearish move is weakening. For now, at the current price, we have a four-price doji. This may indicate a weakness in the trader’s interest during this particular session.
Dash 2 Trade (D2T) is a new token currently on presale which has been able to raise $1.25 million in just over three days. This is a clear demonstration of a high level of interest in the early buyers of this crypto. This new token has proved to be full of more profiting potential when compared with other popular cryptos in their presale stage.
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