The price of Polygon (MATIC) continues to fall below the moving average lines but is holding above the $0.59 support. Price analysis by Coinidol.com.

Langtímaspá fyrir marghyrningaverðið: bearish

This week, the bulls sustained the decline above the $0.59 support. Moreover, the altcoin reached a high of $0.75 before entering a trading range above the current support.

On the downside, the bears attempted to test the current level twice but failed to do so. Nevertheless, MAT will drop to the bottom of the chart if the bears break the current support of $0.59. This means that the altcoin will retest its previous lows of $0.50 and $0.31. The value of the altcoin is currently fluctuating, but at the time of writing it stands at $0.67. Polygon will resume its upward momentum if buyers keep the price above the moving average lines or break through the resistance at $1.00.

Greining á Marghyrningavísinum

The price bars are below the moving average, indicating that the cryptocurrency will continue to decline. The bears are desperately trying to push the cryptocurrency below the $0.59 support level. The 21-day SMA is also slowing down upward movements. The bullish momentum will resume once the price breaks above the 21-day SMA.

Tæknilegar vísa

Þolmörk: $ 1.20, $ 1.30, $ 1.40

Stuðningur: $ 0.60, $ 0.40, $ 0.30

Hvert er næsta skref fyrir Polygon?

Polygon is in a downtrend and has remained above the $0.59 support level. On the 4-hour chart, the altcoin has been rising while consolidating above the $0.62 support. The bears have maintained their bearish momentum and are retesting the current support level. A rebound above the current support will trigger the upside move.

Fyrirvari. Þessi greining og spá eru persónulegar skoðanir höfundar og eru ekki tilmæli um að kaupa eða selja cryptocurrency og ætti ekki að líta á sem meðmæli frá CoinIdol.com. Lesendur ættu að gera rannsóknir sínar áður en þeir fjárfesta í sjóðum.

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• Heimild: https://coinidol.com/polygon-threat-from-bears/