The worth of the Polygon Ecosystem Token (POL) has continued its upward development, reaching a excessive of $0.58.
Polygon Ecosystem Token worth long run prediction: bullish
On the upside, the altcoin will rise to earlier highs however will encounter resistance close to $0.80. At present, the uptrend is encountering early resistance close to the excessive of $0.60. Since November 23, bulls have struggled to interrupt by resistance at $0.60. POL will attain a excessive of $0.80 if the present barrier is damaged.
Nonetheless, since July 17, consumers have did not maintain the bullish momentum above the $0.60 excessive. However, if the cryptocurrency falls from its latest excessive, POL should transfer sideways above the transferring common traces however beneath the latest excessive.
In the meantime, POL is buying and selling beneath its latest excessive of $0.60. POL is at present $0.58.
POL indicator evaluation
Polygon is experiencing a rejection at its latest excessive. Since July 17, the lengthy candlestick wicks point out the latest excessive. These candlestick wicks point out vital promoting stress on the latest highs. As well as, POL has a bullish cross that happens when the 21-day SMA crosses above the 50-day SMA, which is a optimistic signal.
Technical Indicators
Resistance Ranges: $1.20, $1.30, $1.40
Assist Ranges: $0.60, $0.40, $0.30
What’s the subsequent step for Polygon Ecosystem Token?
Polygon has been in a sideways development on the 4-hour chart because the uptrend ended on November 23. The altcoin is transferring above $0.50 however beneath the resistance of $0.60. The worth motion consists of doji candlesticks which might be slowing down the value motion. The bullish momentum has reached its finish level. An extra upward motion of the cryptocurrency is unlikely.
Disclaimer. This evaluation and forecast are the private opinions of the creator. They don’t seem to be a advice to purchase or promote cryptocurrency and shouldn’t be seen as an endorsement by CoinIdol.com. Readers ought to do their analysis earlier than investing in funds.
