Cryptocurrency

Resistance

Polygon

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   Dec 05, 2023 at 08:35 // 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/c85/900_900_1/q0ztm2vjs2ag39303pbo7vj3z0t2kkfr.jpg" width="900" height="563" alt="" title="">
 <p><strong>Polygon (MATIC) has been trading sideways since the end of the November 14 rally. The cryptocurrency fell to a low of $0.72 before continuing its sideways movement.</strong></p>
 <h2 style="text-align: justify;" id="polygon-price-long-term-forecast-ranging">Polygon price long term forecast: ranging</h2>
 <p style="text-align: justify;">Cryptocurrency price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com. The decline is likely to have continued to the low of $0.66 or below the 50-day simple moving average. Despite this, Polygon has made an upward correction above the moving average lines, but this has been rejected. If the price falls below the 21-day SMA, selling pressure will resume. At the time of writing, Polygon is trading at $0.80. The negative downtrend would continue if the 21-day SMA support is broken.</p>
 <h2 style="text-align: justify;" id="polygon-indicator-analysis">Polygon indicator analysis</h2>
 <p style="text-align: justify;">The price of the cryptocurrency falls below the 21-day SMA, resulting in a low below the 50-day SMA. The failed upward correction will drive the cryptocurrency's downtrend. The moving average lines on the 4-hour chart are sloping horizontally due to the sideways trend.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
 <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) –Dec.05.jpg" src="https://cdn.thebittimes.com/images/2023/12/05/d2c2bb2bb672dfa02cdc5302941e3458.webp" height="511" title="MATICUSD_(Daily Chart) –Dec.05, 2023"><br> </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;">Polygon is falling and could reach the targeted low of $0.66. In the previous price action, the market hit a low of $0.72 before reversing higher. MATIC's projected price level will be reached if the bears manage to break through the current support.</p>
 <p style="text-align: justify;"><img width="1024" alt="MATICUSD_ (4 Hour Chart) – Dec.05.jpg" src="https://cdn.thebittimes.com/images/2023/12/05/798cddfdcdd3a97844dc9bd4e1bbd6f0.webp" height="511" title="MATICUSD_ (4 Hour Chart) – Dec.05, 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.&nbsp;</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/polygon-falls-within-its-range-after-rejection-at-0-83-tbt72638.html">https://thebittimes.com/polygon-falls-within-its-range-after-rejection-at-0-83-tbt72638.html</a></p>

Polygon Falls Within Its Range After Rejection At $0.83

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