The Polygon Ecosystem Token (POL) is rising after discovering help above the $0.16 stage.
Polygon Ecosystem Token worth long-term prediction: bearish
Since Could 30, the cryptocurrency has been buying and selling within the downtrend zone. Consumers didn’t push the worth above the shifting common traces. The decline has moderated above the help stage of $0.162 and POL has resumed its uptrend. The bullish momentum is predicted to interrupt above the shifting common traces and attain a excessive of $0.214. Additional upside for the cryptocurrency is unlikely because it might be rejected on the $0.22 threshold.
Nevertheless, if the altcoin falls beneath the 21-day SMA threshold, the bullish situation can be negated. Polygon will proceed to maneuver above the $0.16 help however beneath the shifting common traces. Polygon is at the moment buying and selling at $0.183.
POL worth indicators evaluation
The worth bars are shifting up beneath the shifting common traces. POL will proceed to rise if it breaks above the 21-day SMA. Bullish momentum is more likely to attain a excessive on the 50-day SMA. On the 4-hour chart, the worth bars are above the shifting common traces, indicating that the worth of the cryptocurrency may rise.
Technical Indicators
Resistance Ranges: $1.20, $1.30, $1.40
Help Ranges: $0.60, $0.40, $0.30
What’s the subsequent transfer for the Polygon Ecosystem Token?
Polygon is shifting upwards into the uptrend zone. The uptrend has hit an early impediment on the excessive of $0.1927. The 4-hour chart reveals that POL has retraced above the shifting common traces. If the altcoin holds its place above the shifting common traces, the uptrend will resume. The altcoin will attain a excessive of $0.214 if its worth rises.
Disclaimer. This evaluation and forecast are the private opinions of the writer. They don’t seem to be a suggestion to purchase or promote cryptocurrency and shouldn’t be considered as an endorsement by CoinIdol.com. Readers ought to do their analysis earlier than investing in funds.
