Search Inside Bitcoins

Polygon Price: Will There Be a Further Price Reduction?

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Polygon is consolidating within $0.87 and $0.76 support level

Polygon (MATICUSD) Price Analysis – 28 November

An increase in the bears’ pressure will push the price to break down the support level of $0.76 and Polygon price may decrease to the support level of $0.70, and $0.64. When the buyers interrupt the buyers at the support level of $0.76, Polygon will rise to the resistance level of $0.87, this may also increase the price to $0.98 and $1.01 resistance levels.

Key Levels:

Resistance levels: $0.87, $0.98, $1.01

Support levels: $0.76, $0.70, $0.64

 

MATIC/USD Long-term Trend: Bearish

On the Long-term outlook, MATIC/USD price is bearish. The coin has been under the control of bears for more than three weeks. The polygon is falling from the high $1.31 resistance level. The former support levels of $1.01 and $0.98 have turned into resistance levels. The support level of $0.76 was tested on November 21. It bounced up to retest the resistance level of $0.87. At the moment the sellers are returning to the market.

The fast-moving average has crossed the slow-moving average downside. MATIC is trading below the 9-periods EMA and 21-periods EMA as evidence of bearish momentum.  An increase in the bears’ pressure will push the price to break down the support level of $0.76 and the MATIC price may decrease to the support level of $0.70, and $0.64. When the buyers interrupt the buyers at the support level of $0.76, Polygon will rise to the resistance level of $0.87, this may also increase the price to $0.98 and $1.01 resistance levels.

MATIC/USD Short-term Trend: Bearish

Polygon is bearish on the medium-term outlook. The polygon market is experiencing a bearish movement toward the support level of $0.76 level. The just-mentioned level was tested on November 21 but bears could not penetrate the level downside. The price is consolidating within the $0.84 and $0.76 levels.

The Polygon price is trading below the two EMAs which indicates a bearish trend. The 9-day EMA is interlocked with the 21-period EMA. The relative strength index period 14 is at 39 levels with the signal line pointing down which indicates a sell signal. The price of the Polygon is decreasing, and the price of Dash 2 Trade and IMPT are increasing.

The IMPT presale has raised almost $13.5 million and it is important to know that it is live on their official website. This project makes everybody partake and assist the planet in a cool and efficient manner. Do not miss this attractive offer.  You can also join their Discord channel.

The FTX disaster shows that there is a need for a cutting-edge, innovative platform that can detect disasters that are similar to FTX/FTT, and enable speculators to pinpoint secure trading signals for massive returns.  The platform is Dash 2 Trade (D2T), whose presale is currently ongoing. The presale has realized about $7.5 million. D2T affiliate program is also open to all. You can earn your share of the revenue by using the Dash 2 Trade referral links!

Related

 

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

Please enter Coingecko Free Api Key to get this plugin works