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Polygon price analysis: Bullish momentum reignites taking price levels to $1.46

TL;DR Breakdown

Polygon price analysis predicts an uptrend.Price is now standing on $1.46 level.Support is considerably strong at $1.044.

The Polygon price analysis states that the bullish momentum has returned to the price chart as the price has been elevated up to $1.46 in the last 24-hours. The bulls have been performing quite consistently for the past few days after finding the path to recovery. Even today the trends have been extremely favorable towards the bulls and the price has improved tremendously. This is a welcoming sign for the buyers as the bullish current has been quite overpowering.

MATIC/USD 1-day price chart: Price rebalances itself above $1.45 after regaining strength

The one-day Polygon price analysis is predicting an uptrend for the day as the price levels have moved higher. This has proved to be quite profitable for the overall coin value as the price has reached the $1.457 level as well. The bullish wave is getting stronger as more and more pressure is being put forward from the buyers’ side. If the bulls continue to progress then there is a chance the moving average (MA) value might go higher than $1.294.

MATIC/USD 1-day price chart. Source: TradingView

The volatility has increased which means that price might fluctuate more in the coming time period. The upper and lower Bollinger band values have changed as well as now the upper value is standing at $1.442 and the lower value is standing at $1.044. The Relative Strength Index (RSI) score has moved up to 62.15 because of the climb in price.

Polygon price analysis: MATIC faces massive bearish resistance above $1.50

The price is undergoing decline according to the four hours Polygon price analysis. The price has decreased significantly during the last four hours which was quite unexpected as an uptrend had been following earlier. The price had been moving upwards quite consistently but now the trends have undergone reversal once again. The price has now been lowered down to $1.455, which is still quite higher than the moving average level i.e. $1.34.

MATIC/USD 4-hours price chart. Source: TradingView

Although a crossover between SMA 20 and SMA 50 curve took place earlier, the four hours progress has been quite negative. The volatility has increased tremendously and now the upper Bollinger band value is sitting at $1.45 and the lower value is at $1.087. The RSI score has dropped down to 70, which is still an impressive number.

MATIC/USD technical indicators chart. Source: TradingView

The overall trend for the cryptocurrency is going bullish as the MATIC/USD price has undergone major improvement. There are 17 indicators that are present on the buying position, nine indicators on the neutral position while none is on the selling position.

The moving average is declaring the bulls on the leading position as well with a strong bullish signal. There are 14 indicators on the buying mark, one indicator on the neutral mark, and zero indicators on the selling mark. The Oscillators are giving out a bullish hint as well with eight oscillators on the neutral position, three oscillators on the buying position, and zero on the selling position.

Polygon price analysis conclusion

The bullish momentum has been intensifying over the past few days and so the circumstances have turned favorable for the buyers. Both the hourly and daily price predictions are indicating a rise in price and have reported that the price has heightened up to $1.46 today. The cryptocurrency might face loss in the upcoming hours as the four-hour price chart is confirming a drop in price.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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