Resistance

Polygon

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   Nov 21, 2023 at 06:45 // 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/833/900_900_1/phohnrv5m3x8vklbl44fr4x3cptxkzb4.jpg" width="900" height="563" alt="" title="">
 <p><strong>Polygon (MATIC) price has reached bullish exhaustion with a high of $0.98. MATIC price falls back to its previous lows.</strong></p>
 <h2 style="text-align: justify;" id="polygon-price-long-term-prediction-bullish">Polygon Price Long Term Prediction: Bullish</h2>
 <p style="text-align: justify;">The altcoin dropped first and found support above the moving average lines. The bearish momentum is now repeating itself as the bears retest the 21-day moving average line. At the time this article was written, the market price of MATIC was $0.80.</p>
 <p style="text-align: justify;">On the downside, selling pressure will pick up again if the bears drop below the 21-day SMA. MATIC will then fall even lower to $0.66.<br> However, if Polygon retraces and finds support above the low of $0.66, the crypto could return to a sideways trend.</p>
 <h2 style="text-align: justify;" id="polygon-indicator-analysis">Polygon indicator analysis</h2>
 <p style="text-align: justify;">The price bars on the 4-hour chart have fallen below the moving average lines, indicating that the cryptocurrency will continue to fall. The altcoin is expected to fall due to an overbought scenario. On the 4-hour chart, the 21-day SMA is lower than the 50-day SMA. This indicates a bearish crossover, which means that the cryptocurrency could fall.</p>
 <h2 style="text-align: justify;" id="technical-indicators">Technical indicators</h2>
 <p style="text-align: justify;"><b>Resistance levels: $1.20, $1.30, $1.40</b></p>
 <p style="text-align: justify;"><b>Support levels: $0.60, $0.40, $0.30</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="MATICUSD_(Daily Chart) –Nov. 21.jpg" src="https://cdn.thebittimes.com/images/2023/11/21/92556b17e7d67b2cda89ffa6ce47bb36.webp" height="529" title="MATICUSD_(Daily Chart) –Nov. 21, 2023"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-step-for-polygon">What is the next step for Polygon?</h2>
 <p style="text-align: justify;">MATIC has been trading between $0.78 and $0.95 since the cryptocurrency collapse. The price indication has shown that the cryptocurrency will continue to fall. The altcoin reversed to the upside and retested the candlestick body of the 61.8% Fibonacci retracement level on November 18. The correction suggests that MATIC will fall to the 1.618 Fibonacci extension or $0.66.</p>
 <p style="text-align: justify;">Coinidol.com wrote previously that Polygon retested the $0.95 price level on November 14.&nbsp;&nbsp;</p>
 <p style="text-align: justify;"><img width="1024" alt="MATICUSD_ (4 Hour Chart) – Nov.21.jpg" src="https://cdn.thebittimes.com/images/2023/11/21/a06b916822d0665d9c84160606738f87.webp" height="529" title="MATICUSD_ (4 Hour Chart) – Nov.21, 2023"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. 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-moves-above-0-80-on-rising-selling-pressure-tbt71036.html">https://thebittimes.com/polygon-moves-above-0-80-on-rising-selling-pressure-tbt71036.html</a></p>

Polygon Moves Above $0.80 On Rising Selling Pressure

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