Verëffentlecht 7 Stonnen ago
The fast-falling Polygon Coin Präis may soon retest the local support of $0.76. With rising volume on the selling side, the coin price could give a high momentum breakdown from this support. Will this potential downfall tumble MATIC price to a lower level, or will we see a bullish reversal soon?
Schlësseleg Punkten:
- The $0.76 and $0.7 support could offer suitable support to coin buyers
- The 20-and-200 EMAs offer a bearish crossover
- Den Intraday Handelsvolumen am MATIC ass $ 550.7 Milliarde, wat e Gewënn vun 72% ugeet.
Quelle-Tradingview
Amid the recent bloodbath in the crypto market, the polygon coin witnessed a V-top reversal from the $1.3 resistance. Furthermore, this downfall registered a 41.3% loss and plunged to local support of $0.76.
The coin price currently trades at the $0.783 mark, but the last three days’ rising volume indicates this downfall could extend further. Thus, with sustained selling, the Polygon coin price could soon breach the $0.76 support and bolster further downfall.
This development would tumble the MATIC price 11.5% to retest the combined support of $0.7 and 0.618 Fibonacci retracement level. Thus, this support seems strong enough to resume the prevailing uptrend.
On a contrary note, the overall volume action has reduced during the correction phase indicating this downfall is temporary. Thus, coin holders should watch for any reversal signs at $0.76 or $0.7.
technesch Indicateuren
MACD Indikator: with a significant bearish spread, the MACD and signal lines dropped below the neutral, indicating the market sellers regained trend control.
EMAs: the long-flattish EMAs(100 and 200) accentuate a sideways market trend. Whereas the short days EMAs(20 and 50) falling downward indicates rising selling pressure.
Polygon Coin Präis Intraday Level
- Spot Taux: $ 0.78
- Trend: Bearesch
- Volatilitéit: Niddereg
- Resistenzniveauen - $ 7.6 an $ 7.6
- Ënnerstëtzungsniveauen - $ 7 an $ 0.95
Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.
Source: https://coingape.com/markets/decreasing-volume-hints-polygon-price-correction-is-temporary/