Polygon (MATIC/USD) Price Sets for a Pit Stop, Averaging $1.30
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Polygon Price Prediction – March 19
The Polygon market currently sets for a pit stop against the US currency as it averages the $1.30 line. Since the start of today’s trading activities, buyers have repeatedly attempted to push between the zones of the $1.207 and $1.173 value lines at a maximum percentage rate of 1.02 positive. Even if there is a loss of strength in the sellers’ pushing power at this time, the market’s upward impulse will likely falter.
MATIC/USD Market
Key Levels
Resistance levels: $1.30, $1.40, $1.50
Support levels: $1, $0.90, $0.80
MATIC/USD – Daily Chart
The MATIC/USD daily chart reveals that the crypto-economic price sets for a pit stop, averaging the $1.30 level. The 14-day SMA trend line is at $1.180, closely above the 50-day SMA trend line, which is at $1.101. The Stochastic Oscillators are around the 87.40 and 84.31 levels. The positioning of the Stochastics portends that much of the strong motion has almost exhausted, signaling a warning against pursuing any presumed attempt to move northward more outside its present high point of around $1.207.
Will the MATIC/USD market operation continue with a pit-stop trading scenario?
Within the confinement of the trading psyche, the MATIC/USD market tends to prolong its presence around the trend lines of the SMAs as the price sets for a pit stop, averaging the $1.30 resistance level. Further efforts to push to the north side could abysmally lead to a reversal in no time. Therefore, it would even be technically better to let out on the thought of trying to execute a buying order as the price hovers around the 14-day SMA indicator presently.
On the downside of the technical analysis of the MATIC/USD market, short-position placers need to be watchful of active reversal-l-moving mode that can surface against the trend line of the smaller SMA after a long-holding of range motions, especially when the Stochastic Oscillators maintain a tangible cross to the southbound from around the overbought region afterward. The critical resistance level is said to be around $1.40.
MATIC/BTC Price Analysis
In contrast, Polygon has been dipping against the trending force of Bitcoin to a large extent of dragging an interception of the bigger SMA by the smaller SMA to the downside possible for confirmation of seeing the former crypto lying flat in a consolidation mode against its latter instrument. The 14-day SMA indicator has bent southward, attempting to cross the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region, keeping 1.17 and 1.67 levels. Despite a smaller bullish candlestick in the making, bulls still need to show prudence before considering a lengthy position order.
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