Polygon (MATIC/USD) Value Retraces Below $0.90 on the Market
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Polygon Price Prediction – October 9
As the crypto market retraces valuation below the 40.90 resistance line, the bull market in the MATIC/USD operations has peaked without pushing substantially higher. As of the time of writing, indications indicate a positive 1.11 percent of trading near the $0.823 market line.
MATIC/USD Market
Key Levels
Resistance levels: $0.90, $0.95, $1
Support levels: $0.70, $0.65, $0.60
MATIC/USD – Daily Chart
The MATIC/USD value retraces below the market’s $0.90 resistance level, as seen on the daily chart. The range-bound channel trend lines are psychologically drawn at higher-trading spots to embody the paces of ups and downs the trade has been keeping over time. The 14-day SMA indicator is at $0.803, underneath the $0.822 value point of the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound from the overbought region to the positions of 77.26 and 70.23 range lines, denoting that a falling force is in place currently.
Will the MATIC/USD market experience further declines as the price retraces?
Suppose the price breaks southward through the 14-day SMA’s value line as the value of the cryptocurrency market retraces below the $0.90 resistance trading level. In that case, the MATIC/USD market may likely witness additional variations of lesser sell-offs. Continue to be cautious when initiating positions that have the potential to surpass your trading money quickly. Before placing a buying order, repositioning the Stochastic Oscillators around lower range points will provide a complementary hedge opportunity.
On the negative side of the technical analysis, bears in the MATIC/USD market may maintain a firm stance against bulls’ efforts to break through the $0.90 resistance level for some time. Sellers may need to wait for the price to reject around the value line before placing a selling order, which must be by the principle of proper money management to avoid an unprecedented breakout in the trading arena.
MATIC/BTC Price Analysis
Polygon has consistently maintained a higher-pushing outlook against Bitcoin on a low-active pace to the north over a long-term running pattern. The 14-day SMA indicator has been trending upward around the trading candlesticks above the 50-day SMA indicator. The Stochastic Oscillators have crossed southbound in the overbought region, maintaining range values of 90.41 and 88.52, indicating the possibility of the base cryptocurrency succumbing to a decrease-moving mode, pairing with its counter-trading crypto.At the moment, a false active pull-up price action could trigger a decent sell entry over the trend lines of the SMAs.
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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