#MATIC Prices Steady above $0.75, Are Polygon Bulls Back?
Past Performance of Polygon
Polygon found support on September 19. Prices are currently steady and at around $0.75, back in a trading range. Buyers stand a chance based on the MATIC price action in the daily chart. However, for buy trend continuation in line with gains of early Q3, prices must be firm above $0.75 and even reverse losses posted over the weekend.
#Polygon Technical Analysis
Buyers have a chance to reverse the current trend and force price action back to green. Presently, the primary support at $0.75 holds, and sellers have been rebuffed following encouraging gains on September 19. A confirmation of yesterday's gains, unwinding losses of September 18 as prices soar above $0.84, may be the basis for another leg up to September highs at around $0.93. This level should be the bulls' immediate target. However, if MATIC slips below $0.75, the coin may crater to $0.50, around the 78.6 percent Fibonacci retracement level of the June to August 2022 trade range.
What to Expect from #MATIC?
Buyers are upbeat after the rebound of prices on September 19. Still, there must be more assurance for a buy trend continuation. Gains above $0.85 could form a solid anchor for buyers targeting $0.93 and even $1 in days ahead.
Resistance level to watch out for: $0.85
Support level to watch out for: $0.75
Disclaimer: Opinions expressed are not investment advice. Do your research.
Polygon found support on September 19. Prices are currently steady and at around $0.75, back in a trading range. Buyers stand a chance based on the MATIC price action in the daily chart. However, for buy trend continuation in line with gains of early Q3, prices must be firm above $0.75 and even reverse losses posted over the weekend.
#Polygon Technical Analysis
Buyers have a chance to reverse the current trend and force price action back to green. Presently, the primary support at $0.75 holds, and sellers have been rebuffed following encouraging gains on September 19. A confirmation of yesterday's gains, unwinding losses of September 18 as prices soar above $0.84, may be the basis for another leg up to September highs at around $0.93. This level should be the bulls' immediate target. However, if MATIC slips below $0.75, the coin may crater to $0.50, around the 78.6 percent Fibonacci retracement level of the June to August 2022 trade range.
What to Expect from #MATIC?
Buyers are upbeat after the rebound of prices on September 19. Still, there must be more assurance for a buy trend continuation. Gains above $0.85 could form a solid anchor for buyers targeting $0.93 and even $1 in days ahead.
Resistance level to watch out for: $0.85
Support level to watch out for: $0.75
Disclaimer: Opinions expressed are not investment advice. Do your research.
