Polygon (MATIC/USD) Market Forces Are Fading, Tending to Reverse
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Polygon Price Prediction – February 11
The kind of trade path that has been exhibited over time in the exchanging line of Polygon versus the valuation of the US coin has been more or less pushing positively, as the price forces are fading off gradually toward the point of $0.90, tending to reverse.
Based on the stochastic oscillators’ current overbought reading state, a further strengthening of the velocity to break over the overhead retarding trade line at an average of $0.90 may not be readily completed. As the current pattern doesn’t indicate that negative order won’t be getting its way in the near future, buyers should be on the lookout for any false outbreak around the resistance line previously stated.
MATIC/USD Market
Key Levels:
Resistance levels: $0.95, $1.05, $1.15
Support levels: $0.75, $0.70, $0.65
MATIC/USD – Daily Chart
The MATIC/USD daily chart reveals that the crypto market forces are fading toward the line of $0.90, tending to reverse soon.
The Bollinger Band trend lines are being made to position around the spots of $0.90 and $0.70, as the trend formation of candlesticks has been featured serially to approach the higher value. The stochastic oscillators have been moving their blue part in the overbought region in a consolidation style to signify that the buying frenzy is somewhat dominating the market pace.
Should sellers of the MATIC/USD market place an immediate order as the bullish motion stages toward $0.90?
It might not be a safer step to instantly launch a shorting position order while the MATIC/USD market operation is pushing through the point of $0.90, given that the crypto’s trade forces are fading even toward the point, and it could reverse if bulls relax their efforts.
The gravitational force to ignite additional stables across the upper Bollinger Band trend line must be in a congealed structure, as the majority of the indicator positional outlooks indicate, in order to achieve firm positive consolidation moving steps over the $0.90 mark. Any time soon, buyers need to exercise caution in case a bearish candlestick appears.
It has been anticipated that there may be a shorting entry in the near future since the trade zone of $0.90 has received a lot of attention, indicating that bulls are nearly worn out approaching or around it. Because there are still more increases on the horizon, bears should be cautious before moving against slow and steady moving motions.
MATIC/BTC Price Analysis
In comparison, the Polygon market has considerably placed lowly to the point that Bitcoin isn’t expected to make firm attempts against in the subsequent operations.
As it stands, the candlesticks’ feature steps have gradually shaped to gently press up against the bottom Bollinger Band. The blue part of the stochastic oscillators has sunk into the oversold area, indicating that the base cryptocurrency instrument is about to find a base to re-energize against the effects of its countertrading crypto economy.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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