Polygon (MATIC/USD) Price Stretches Up, Tending a Reversal
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Polygon Price Prediction – November 5
The Polygon trade’s weights versus the valuation of the US Dollar have increased, firmly making stances, as the price stretches up through variant resistances closer to the point of $0.70, tending to a reversal at the time of this piece.
Since the occurrence of uprising pressures has been consistent, the trend has followed a straight line. Pushes further northward along the upper Bollinger Band indicator’s path would indicate that investors’ market muscles need to be stretched through some overhead resistances before they are fully used. Even though it turns out to be the case in the next operations, new long-position placers would need to exercise caution while considering joining the presumptive scenario.
MATIC/USD Market
Key Levels:
Resistance levels: $0.75, $0.80, $0.85
Support levels: $0.60, $0.55, $0.50
MATIC/USD – Daily Chart
The MATIC/USD daily chart shows the crypto market stretches up against the expectation of resorting to an early correction from the point of the upper Bollinger Band trend line, tending to a reversal movement.
The Bollinger Band trend lines are seen trending from $0.723 to $0.616, and the lower part is placed at $0.508 points. The stochastic oscillators have been moving easterly to carry along a sign of resorting to a declining path, staying between 69.372 and 70.521. That implies that expectations of a necessary retracement process are on the rise.
What are the higher resistance lines buyers in the MATIC/USD market could face next from its current trading spot of around $0.685?
Long-position pushers are possibly going to witness resistances between the values of $0.70 and $0.75, given that the MATIC/USD trade stretches up, tending to a reversal possibly soon around the upper Bollinger Band trend line.
As though a correction is necessary, buyers in the MATIC/USD trade toward maintaining their base entry around the middle Bollinger Band trend line in order to prevent the current uprising pressure process from being invalidated as the crypto economies approach a bullish trading cycle. Long-term investors should stick to their positions before the market explodes in value.
Once bulls in the market make a scared move to give back an immediate active reversing motion against the location they may have made such a motion, shorting of position orders must resume. In most cases, placing additional buying position orders during a noteworthy peak session is not technically difficult.
MATIC/BTC Price Analysis
In comparison, there has been a sign that the Polygon market stretches up against the trending capability of Bitcoin, tending to reversal below the upper Bollinger Band trend line.
The trend lines of the Bollinger Bands are widely open and attempting to rise from lower zones. The stochastic oscillators are positioned between 55.17813003 and 78.35634498 values, indicating that they are in a northbound crossing phase. As it stands, a candlestick indicates that the foundational cryptocurrency is building in order to approach a barrier positioned around the upper Bollinger Band. Any attempt to go back to it could result in the counter-trading of cryptocurrencies to reduce Polygon’s value.
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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