Polygon (MATIC) Price Stuck at $0.95
The price of Polygon (MATIC) is currently stuck at $0.95, unable to surpass its recent high and experiencing a downward correction.
Polygon Price Long Term Prediction: Ranging
After a previous decline, Polygon entered a sideways trend on November 14, fluctuating between $0.75 and $0.95. If buyers manage to break through the $0.95 level, the price could reach a high of $1.20. However, if the bears breach the support at $0.75, MATIC will fall and revisit the previous low at $0.50. Currently, the altcoin is trading at $0.86.
Polygon Indicator Analysis
On the 4-hour chart, Polygon’s price is trading between the moving average lines, indicating a sideways trend. The upward sloping moving average lines suggest an upward correction, with a likely retest of the overhead resistance as long as the price remains above the moving average lines.
Technical Indicators
Resistance levels: $1.20, $1.30, $1.40
Support levels: $0.60, $0.40, $0.30
What’s Next for Polygon?
Polygon has recovered from its previous downturn but has been unable to sustain an uptrend. If buyers can break through the current resistance level, the cryptocurrency may resume its upward movement. However, if the resistance level is frequently retested and weakens or breaks, the sideways trend will continue for now.
Hot Take: Polygon (MATIC) Price Stuck at $0.95 Amidst Sideways Trend
The price of Polygon (MATIC) has been unable to surpass $0.95, resulting in a sideways trend. The altcoin’s long-term prediction remains ranging, with potential for an upward correction if the current resistance level is broken. On the other hand, a breach of the support level could lead to a revisit of the previous low. Technical indicators suggest a continuation of the sideways trend, with potential resistance levels at $1.20, $1.30, and $1.40, and support levels at $0.60, $0.40, and $0.30. The next move for Polygon depends on whether buyers can break through the current resistance level or if the sideways trend persists.
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