Polygon (MATIC/USD) Trade Is Correcting, Keeping a Rising Input
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Polygon Price Prediction – December 17
The polygon trade is correcting against the valuation of the US dollar, keeping a rising input, as it is believed that bears won’t be able to run a consolidation force beyond the point of $0.70 even in the long run.
Given that mentality, investors and traders alike can expect a rallying motion from the area surrounding the middle Bollinger Band trend line and the underlying $0.70 support value line. Additionally, it has been noted that in order for the price to most likely regain its positive strength, it has to be reversed to a lower bullish trading zone.
MATIC/USD Market
Key Levels:
Resistance levels: $0.95, $1.05, $1.15
Support levels: $0.70, $0.65, $0.60
MATIC/USD – Daily Chart
The MATIC/USD daily chart showcases that the cryptocurrency market is correcting, keeping a rising input around the line of the middle Bollinger Band.
A line of considerable reversal forces has surfaced to denote the possibility of the price regaining energy around the axis of the middle Bollinger Band. As it is at this moment, the placement pattern of the Bollinger Bands is still showing that buyers are going to maintain positions in the zones of the indicators. Stochastic oscillators have dipped the blue line into the oversold region, raising the suggestion that the buying process may soon see the order of the day.
Given that the MATIC/USD market is trading at roughly $0.834, which trend are the Bollinger Band indicators maintaining?
The overall technical trade outlook at the moment of this piece is suggesting that sellers are not likely going to get sustainable drawing of further lows away from $0.834, as the MATIC/USD market is correcting, keeping a rising input.
Placers with long positions are most likely to regain power above the $0.70 level. Bulls must also exercise caution in order to avoid returning without following the rules of the emergence of price actions. More money may still be committed to the cryptocurrency industry at this point because more bullish runs are anticipated.
Bears should exercise caution while maintaining their positions past $0.70 in case they need to go to the lower end of that range, as there has been opportunity for corrections. Putting anything on hold when a successful fall is likely not to occur is very psychological.
MATIC/BTC Price Analysis
In comparison, the Polygon market is correcting around the middle Bollinger Band against the valuation of Boitcoin.
The stochastic oscillators are positioned between 50 and 40 points in a configuration similar to a southbound crossing. The Bollinger Band indicators show a broad range of gains and falls since they are oriented southerly. In the event that a bullish candlestick fails to counteract the current bearish movements, there may be more depressions, which would allow the oscillators to realign in the oversold area and provide strong bouncing signals.
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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