The Latest Polygon (MATIC) Price Analysis
The latest price analysis report indicates that Polygon (MATIC) price has been increasing since October 19.
Long-term Polygon Price Prediction: Bullish
The price forecast for the altcoin suggests that it will rise to a high of $0.76 or the 1.618 Fibonacci extension level. Polygon reached a high of $0.73 on November 6 but has come off its recent high, falling to $0.71 at the time of writing. The altcoin’s uptrend could resume if it breaks back above the $0.66 breakout level, rising to historical highs of $0.80 and $0.85. If Polygon falls below the $0.66 support level, selling pressure will increase again, causing the market to continue to fall and reach lows between $0.50 and $0.56, although it is still trading in a positive trend zone.
Polygon Indicator Analysis
The Polygon indicator is in a gentle uptrend as the moving average lines are sloping north, indicating an upswing with support and resistance levels represented by moving average lines. The cryptocurrency is rising as the price bars have once again risen above the moving average lines.
Technical Indicators
Resistance levels: $1.20, $1.30, $1.40
Support levels: $0.60, $0.40, $0.30
What is the Next Move for Polygon?
Polygon has risen to near the projected price level of $0.76 but came to a halt at the $0.75 barrier. Additional gains in the cryptocurrency are unlikely as the market approaches the overbought territory, but its upward movement depends on staying above the $0.66 support level.
Hot Take: Polygon Continues Bullish Uptrend
Last week reported that the bulls have accomplished breaking through the current $0.50 to $0.60 range and after falling on October 27, Polygon retested the $0.60 support.
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