Cryptocurrency

Resistance

Polygon

<div class="coinidol">
 <div class="info">
  <div class="news_info">
   Oct 10, 2023 at 09:18 // Price
  </div>
  <div class="author-box">
   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
  </div>
 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/5c3/900_900_1/c87fi5csytnzfdjadm8wqyk4fq1bs3yc.jpg" width="900" height="563" alt="MATIC will continue to fall" title="">
 <p><strong>Cryptocurrency price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> brought by Coinidol.com. Polygon (MATIC) price is declining and trading in a narrow range. </strong></p>
 <h2 style="text-align: justify;" id="long-term-forecast-of-the-polygon-price-fluctuation-range">Long-term forecast of the Polygon price: fluctuation range</h2>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;">In the last 48 hours, MATIC rose above the moving average lines but encountered resistance at $0.58. The altcoin has retreated below the moving average lines. In other words, the price of MATIC/USD is trading in a range between $0.50 and $0.58. At press time, the altcoin had fallen to a low of $0.53. The altcoin tends to fall further as long as the price bars are below the moving average lines. If the support of $0.50 is breached, the cryptocurrency asset will fall to a low of $0.46. However, if the existing support holds, the movement will continue within the range.</p>
 <h2 style="text-align: justify;" id="polygon-indicator-analysis">Polygon indicator analysis</h2>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;">The cryptocurrency value is currently trading in a bearish trend zone as the price is below the moving average lines. The conclusion is that the altcoin is more likely to fall than to rise. The downward slope of the moving average lines indicates a decline. The oversold area of the market is where the altcoin is trading now.</p>
 <p style="text-align: justify;"><img width="980" alt="MATICUSD_(Daily Chart) – OCT. 10.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/10/fc7e4c42b2cf9a74bc3ed1d3c0a5d068.webp" height="548" title="MATICUSD_(Daily Chart) – OCT. 10.23.jpg"><br></p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;"><b>Resistance levels: $1.20, $1.30, $1.40 </b></p> <b> </b>
 <p style="text-align: justify;"><b> </b></p> <b> </b>
 <p style="text-align: justify;"><b> Support levels: $0.60, $0.40, $0.30</b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-polygon">What is the next move for Polygon?</h2>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;">Polygon has been trading sideways since the price drop on June 10. The cryptocurrency's value dropped to around $0.50, but the bulls bought the dips. The altcoin rose to a high of $0.89, but encountered fierce resistance. Today's low of Polygon's price is $0.53. The price indicator predicts that MATIC will continue to fall until it reaches a low of $0.46.</p>
 <p style="text-align: justify;"><img width="980" alt="MATICUSD_ (4 Hour Chart) – OCT. 10.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/10/7d809f8324d79f07ad1464a9eb661ea5.webp" height="548" title="MATICUSD_ (4 Hour Chart) – OCT. 10.23.jpg"><br></p>
 <p style="text-align: justify;">Last week Coinidol.com reported that on June 10, the cryptocurrency value exceeded $0.50 and ended its fall. Bulls pushed the price to $0.89 by buying the dips.&nbsp;</p>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;"></p>
 <p style="text-align: justify;"><i><span style="color: #a0a0a0;"><b>Disclaimer.</b> This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
 <p style="text-align: justify;"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/polygon-s-value-drops-to-0-53-as-it-faces-harsh-rejection-tbt65798.html">https://thebittimes.com/polygon-s-value-drops-to-0-53-as-it-faces-harsh-rejection-tbt65798.html</a></p>

Polygon's Value Drops To $0.53 As It Faces Harsh Rejection

Table of Contents

TheBitTimes

Other articles published on Oct 10, 2023

Ripple’s Chief Financial Officer Kristina Campbell Quits; Joins This Company!

Prosecution claim that Sam Bankman-Fried’s $500 million philanthropic stake is unrelated to the c...

Ripple CFO Kristina Campbell to Join Maven Clinic: Report

Binance Users in Hong Kong Hit By $450K Phishing Scam As Local Police Issue Urgent Warning

We asked ChatGPT if will there be an XRP bull run in 2024?

Layer 2 Networks Account For Nearly Two-Thirds of Ethereum Transactions: Report

Join our free newsletter for daily crypto updates!