Resistance

Polygon

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   Oct 17, 2023 at 08:49 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </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/add/900_900_1/isa12tny9njatbtmnfly6trgzbd0q2bv.jpg" width="900" height="563" alt="Polygon is now trading in a small range at the bottom of the chart" title="">
 <p><strong>The latest price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com report, Polygon (MATIC) price has been consistently trading above the support level of $0.50 since June 10.</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>
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 <p style="text-align: justify;">The downward trend of MATIC came to a halt on June 10. Thereafter, the bears tested the current support level three times to resume the decline. On October 12, the bears were rejected above the $0.50 support when they tried to break the lower price area. The altcoin rose above the current support level but remained below the moving average lines.</p>
 <p style="text-align: justify;">At the time of writing, the altcoin was trading at $0.52. Price fluctuations have been limited to between $0.50 and $0.58 since August 17. The cryptocurrency is already trading in the oversold zone of the market. Buyers are expected to emerge at lower price levels.</p>
 <h2 style="text-align: justify;" id="polygon-indicator-analysis">Polygon indicator analysis</h2>
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 <p style="text-align: justify;">The moving average lines are horizontally sloped as long as the cryptocurrency is above the support level of $0.50. The altcoin has bounced between the moving average lines. MATIC is expected to grow when the price bars rise above the moving average lines in the shorter period.</p>
 <p style="text-align: justify;"><img width="988" alt="MATICUSD_(Daily Chart) – OCT. 17.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/17/2be93dc123e2682dd17ce7ac3a104780.webp" height="547" title="MATICUSD_(Daily Chart) – OCT. 17.23.jpg"><br></p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
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 <p style="text-align: justify;"><b>Resistance levels: $1.20, $1.30, $1.40 </b></p>
 <p style="text-align: justify;"><b> </b></p>
 <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-step-for-polygon">What is the next step for Polygon?</h2>
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 <p style="text-align: justify;">MATIC/USD is now trading in the lower area of the chart. Since the price decline on June 10, the current support level of $0.50 has held. Polygon's uptrend was rejected at the high of $0.89, which caused the altcoin to return to its previous low of $0.50. The cryptocurrency is now trading in a small range at the bottom of the chart.</p>
 <p style="text-align: justify;"><img width="988" alt="MATICUSD_ (4 Hour Chart) – OCT. 17.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/17/e75ff273574fdd11b1c379f921924151.webp" height="518" title="MATICUSD_ (4 Hour Chart) – OCT. 17.23.jpg"><br></p>
 <p style="text-align: justify;">Last week&nbsp;Coinidol.com&nbsp;reported that 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.&nbsp;</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>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/polygon-bounces-above-0-50-but-misses-the-last-high-tbt66689.html">https://thebittimes.com/polygon-bounces-above-0-50-but-misses-the-last-high-tbt66689.html</a></p>

Polygon Bounces Above $0.50 But Misses The Last High

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