Bears dominate MATIC market
Polygon (MATICUSD) Price Analysis – September 15
In case the bulls defend the support level of $0.74, MATIC may reverse and continue a bullish trend to $0.90, $1.01 and $1.18 levels. Further decrease in the Polygon price is highly envisaged provided the support level of $0.74 does not hold, $0.64 price level may be reached and penetrated to test the $0.47.
Key Levels:
Resistance levels: $0.90, $1.01, $1.18
Support levels: $0.74, $0.64, $0.47
MATIC/USD Long-term Trend: Bearish
MATIC/USD price is on the bearish trend on the Long-term outlook. The double top chart pattern formed at the resistance level of $1.01 is an indication that price will fall. The bulls were in control of the Polygon market many days before bears took over the market; the bullish trend pushed up the price and found resistance at $1.01. The price descending towards $0.74 support level.
Polygon is trading below the 9 periods EMA and 21 periods EMA. In case the bulls defend the support level of $0.74, the price may reverse and continue a bullish trend to $0.90, $1.01 and $1.18 levels. Further decrease in the Polygon price is highly envisaged provided the support level of $0.74 does not hold, $0.64 price level may be reached and penetrated to test the $0.47.
Your capital is at risk
MATIC/USD Short-term Trend: Bearish, Tamadoge Token Presale 90% Sold Out
Polygon is bearish on the medium-term outlook. Sellers are exerting more pressure on MATIC. The price action on 4 hour chart has formed a Short “M” chart pattern. The price tested the resistance level of $0.90 on September 13. The level holds and the bulls could not push the price above the mentioned level. The price decreases towards $0.74 level.
The Polygon price is trading below the two EMAs with close distance between them which indicates a low bearish trend. The 9-day EMA is below the 21 periods EMA. However, the relative strength index period 14 is below 42 levels with the signal line pointing down to connote sell signal.
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Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- NFT-Based Metaverse Game
- Presale Live Now – tamadoge.io
