Polygon (MATIC/USD) Price Has Hiked, Converging Below $0.65
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Polygon Price Prediction – October 29
A couple of days ago, it was demonstrated that the efforts of bulls outpaced the effects of bears in market operations that involved Polygon and the US Dollar. As the financial record has it, the crypto-economic trade has hiked, converging below the value line of $0.65.
Given that the price has touched the upper Bollinger Band trend line, investors may remove a sizable portion of their profits from their holdings as it is anticipated that a required correction will soon take place. In the interim, in the event that the anticipated downward trend eventually materializes, the fundamental underlying support has been established around the $0.50 line. Investors with long-term horizons should hold onto their positions ahead of the impending bullish cycle.
MATIC/USD Market
Key Levels:
Resistance levels: $0.70, $0.75, $0.80
Support levels: $0.55, $0.50, $0.45
MATIC/USD – Daily Chart
The MATIC/USD daily chart reveals the crypto trade has hiked, converging below the line of $0.65.
The outlook of the indicators suggests that further forces in the moon direction have been gradually reducing, formulating a warning signal against getting free uprisings from its current trading spot. The Bollinger Band trend lines are seen around $0.675, $0.569, and the lower part at $0.464. The stochastic oscillators are slightly pointing southbound from 73.222 to 63.226.
As of the present trading price of $0.627, what is the financial status of traders in the MATIC/USD market?
Traders in the MATIC/USD market operations are to exercise some level of cautiousness, especially those acting on the basis of either short- or medium-term, as the crypto market has hiked, converging below the line of $0.65 at a close spot.
From the technical point of view, long-position pushers have to allow a condition that will showcase the placements on the stochastic oscillators at lower range values, possibly down into the oversold region, to be able to come across decent longing position orders. Nevertheless, investors are to hold their faith in the long-term running environment before cashing out at higher lines.
Bears may typically exert all of their energy into stalling most moves that want to push higher over the $0.65–$0.70 mark, even when a volatile motion is likely to occur soon. To obtain a respectable entry order, it will be preferable to swap values or locations above them.
MATIC/BTC Price Analysis
In comparison, Polygon is still pricing at reduced values against the trending ability of Bitcoin, as the price is converging below the trend line of the middle Bollinger Band.
Due to their placement in range-bound zones between two layers, the Bollinger Band trend lines are oriented downward. The stochastic oscillators are situated just below the 50-value line. The current trade candlesticks’ view indicates that the base cryptocurrency is attempting to reclaim its positions against the counter-trading cryptocurrency.
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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