Polygon (MATIC/USD) Price Runs a Retracement, Finding a Foothold
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Polygon Price Prediction – July 25
In the MATIC/USD market operations, a closure technical perspective has emerged, indicating the cryptocurrency economic price runs a retracement motion ahead of gaining traction towards the psychological trade spot above the $0.60 support line.
As the current trading trend behind the current pace of the market is considered to obtain support that will soon transform into trustworthy surging moments, the gravitational attraction to the downside does not appear to be surrendering to more wild fall-offs. The percentage rate of trade is currently 0.966%, which is minutely negative to negotiate between $0.729 and $0.720 values as of the writing of this article. There have been some indications that buyers may make a comeback and halt the current trend of migrating to the south.
MATIC/USD Market
Key Levels:
Resistance levels: $0.80, $0.90, $1
Support levels: $0.60, $0.55, $0.50
MATIC/USD – Daily Chart
The MATIC/USD daily showcases that the crypto-economic price runs a retracement movement, finding a foothold around the trending path of the smaller indicator.
The 14-day SMA indicator is the tool to give an ascertained signal moment to showcase if the price will hold back against more declines around $0.65, as it is underneath the 50-day SMA indicator. The Stochastic Oscillators have dipped into the oversold region, keeping the points between 7.77 and 3.22. These numbers highlight the necessity of exercising caution while establishing a new shorting order position.
Should the MATIC/USD market’s bears go with a maximal breakdown motion against the $0.65 support level before?
All hope has been put on the rise regarding the fact that the MATIC/USD market bears’ capacity won’t be able to push optimally further through supports from $0.65 down to the lower point of $0.60 as the crypto-economic trade runs a retracement, finding a foothold.
Going by the furtherance settings of declines, today’s trading bearish candlestick has to maintain its selling wall from the top to the lower end, leading to another following path that has to be lower than the one of today in the subsequent days’ sessions. Nevertheless, it is not recommended to play along with that assumption without executing a stop-loss order instantly.
In light of the likelihood that this market will move upward, we believe that trade values between $0.65 and $0.60 will act as crucial supports for enabling bulls to reclaim their righteous attitudes. They merely need to keep an eye out for a concrete rallying signal that can develop into a bullish trading candlestick before properly resuming long bets. 
MATIC/BTC Price Analysis
In comparison, there has been a running retracement motion on the Polygon market, finding a foothold against the valuation of Bitcoin.
Compared to the 14-day SMA indicator, the 50-day SMA indication is higher. The Stochastic Oscillators have crossed over from the overbought region into the oversold region. And they haven’t turned from pointing southward from 15.74 to 2.67 yet. It appears that the fundamental cryptocurrency is coming to an end. Longing-position orders will therefore soon be visible.
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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