Polygon (MATIC/USD) Price Encounters a Barrier at $1.30
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Polygon Price Prediction – February 12
There have been prolonged-striving efforts in the MATIC/USD market buyers’ ability to push northward steadily slow against the long-awaited expectation of sellers to regain their stances between $1.40 and $1.30 points as the crypto’s price encounters a barrier around the smaller value line. The trading situation currently witnesses a 1.52 percent positive to indicate that some upward motions are ongoing.
MATIC/USD Market
Key Levels
Resistance levels: $1.40, $1.50, $1.60
Support levels: $1.10, $1, $0.90
MATIC/USD – Daily Chart
It is depicted on the MATIC/USD daily chart that the base-crypto-economic instrument encounters a barrier around the $1.30 level. The Stochastic Oscillators are in the oversold region, trying to cross their lines northbound at 17.07 and 17.34 levels. The 14-day SMA indicator is at a $1.141 value line over the $0.981 point of the 50-day SMA indicator. According to this technical assumption analysis, a smaller bullish trading candlestick indicates a buying opportunity is on the way.
Is it technically worthwhile to continue buying the MATIC/USD market to the upside?
Any intending buyer wishing to join the MATIC/USD market operation to the upside has to be wary of any reversal motion that can run volatility against the $1.20 level as the price encounters a barrier around the $1.30. That point appears to be a determining factor in obtaining sustained increased-moving pressures in the subsequent sessions. Long-position traders must be strategic in their approach, looking for upward momentum on the emergence of a bullish candlestick before executing a buying stance.
On the downside of the technical analysis of the MATIC/USD market activities, bears will need to be cautious of launching a sell order until another posture is derived from the Stochastic Oscillators in the overbought region or at a high range levels. In the maintain, resistance trading points around the $1.40 may be the maximal high line for a sell order position to resurface. Another way around this is if the 14-day SMA trend line breaks southward, causing a recurrence of sell orders.
MATIC/BTC Price Analysis
In contrast, Polygon remains to consolidate its features northward against Bitcoin’s trending ability over the buying signal side of the SMA trend lines. The 14-day SMA indicator is above the 50-day SMA indicator. Traders should be careful of an emergence of a long-legged bearish candlestick that can occur at any moment from now. The Stochastic Oscillators are in the overbought region, keeping a 95.24 red line and 97.15 blue line to signify the base crypto is still on course striving against its counter-trading crypto. However, there is a warning sign that upward-smooth runs are unlikely shortly.
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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