Polygon (POL) Price Prediction: POL/USDT Continues to Trade a Boring Market
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Polygon (POL) Price Prediction: August 18
Price movement in the Polygon market continues to hover around the $0.4248 price level. However, the market has managed to print minimal profits after hitting the technical support at the $0.4000 mark.
POL/USDT Long-term Trend: Bullish (Daily Chart)
Key Price Levels:
Resistance Levels: $0.4500, $0.5000, $0.5500
Support Levels: $0.4000, $0.3500, $0.3000
This is evident in the appearance of tiny green-priced candles over the past two sessions. Nevertheless, the market remains below the middle limit of the Bollinger Bands (BB). While price action in the Polygon daily market trends are largely sideways, the overall direction of the BB indicator seems downward. At the same time, the lines of the Stochastic Relative Strength Index (SRSI) can be seen rising further upward in the overbought region.
Polygon Price Prediction: POL/USDT Retains a Subdued Characteristic
Price activity in the POL/USDT daily market still has a generally vulnerable outlook. The observed gains in the market appear quite minimal. Additionally, despite the gains, trading activity remains below the middle band of the BB indicator. The last price candle on the chart has an upper shadow, which seems to have appeared after price action tested the resistance at the $0.4248 price level.
Furthermore, the movement of the SRSI indicator seems somewhat exaggerated given the magnitude of the upside movement in the market. However, its trajectory maintains that the market may attempt to rise through the resistance at the $0.4248 price level.
Polygon Price Prediction: Upside Forces in the POL/USDT Market Are in Cruise Control on Microscale (4-Hour Chart)
Ever since price action rebounded off the support at the $0.4000 mark, the market has continued to clinch tiny gains. This trend persisted until the market hit the resistance at $0.4248. Price action has been rejected downward but remains bullish above the middle limit of the BB indicator.
At the same time, the SRSI indicator lines are still rising upward following a crossover in the overbought region. Based on this, the earlier prediction of the market rising through the resistance at the $0.4248 mark seems possible. This may provide impetus for the market toward the $0.4500 threshold.
