Polygon (MATIC/USD) Market Sets a Foothold, Preparing for a Hike
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Polygon Price Prediction – July 30
The southward gravity of the forces recently maintained by the MATIC/USD trade bears has eventually put the crypto-economic market in a position to establish a foothold between the points of $0.80 and $0.60, given that the price is preparing for a hike.
The existing situational view for the financial market is probably going to change into a series of ranging valuations for a while between those values described previously. The two main market movers’ transaction activities have been concentrated between $0.720 and $0.717 in the interim, maintaining a negative minor percentage of 0.14. Bulls can currently make their way back to the upside because a lower trading zone has been established. As a result, sellers should make little or no effort to push away followers.
MATIC/USD Market
Key Levels:
Resistance levels: $0.85, $0.95, $1.05
Support levels: $0.60, $0.55, $0.50
MATIC/USD – Daily Chart
The MATIC/USD daily showcases that the crypto-economic market is setting a foothold, preparing for a hike from between the range-bound values of $0.80 and $0.60.
The 50-day SMA indicator is positioned around the upper range line above the 14-day SMA indicator. The selling force that is leftover has produced a short line of lower lows around the smaller Moving Average. The Stochastic Oscillators have dipped into the oversold region to stay between 10.34 and 13.02.
What risk will the MATIC/USD market bulls be exposed to in the long run if they are unable to push higher from the current trading spot?
A long-holding trade session around the psychological mid-battle points of $0.80 and $0.60 might cause the MATIC/USD market bears to press for a revisit of the lower range zone even as the crypto economy sets a foothold presently, preparing for a hike under a probity psyche.
Even if the market slowly or with what force gravity at last shifts further downward to the lower range value, buyers are expected not to lose hope against seeing a rallying motion. They should not overburden their positions of entry.
In order to maintain the scenario at further reduction levels away from $0.70, short-position takers would now need to solidify their presence around the 14-day SMA’s trend line, which is currently presenting a stronger trading opportunity for the MATIC/USD trade.
MATIC/BTC Price Analysis
In comparison, the Polygon market sets a foothold against the trending ability of Bitcoin, preparing for a hike as the price has been pushing around the smaller indicator.
As the Stochastic Oscillators marched southward further into the oversold region, different lower candlesticks started to emerge, issuing a caution to avoid shorting the base crypto versus its counterpart. Compared to the 50-day SMA indicator, the 14-day SMA indicator is lower. The general consensus from the technical side is that the buying forces are gathering.
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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