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Polygon price analysis: Bullish swing results in price climbing above $2.00

Polygon price analysis Bullish swing results in price climbing above

TL;DR Breakdown

  • The price has advanced to $2.00.
  • Polygon price analysis shows bullish trend.
  • Support is still fixed at $1.29 level.

The latest Polygon price analysis is confirming that a bullish trend has been dominating the charts for the past few weeks. A rise in price has been observed in the last 24 hours as well, which is quite encouraging for the buyers. The price has been uplifted to the $2.00 level, as the bullish momentum has been getting stronger with each day. Although the price has experienced a downfall this week as well, today’s trend has been promising.

MATIC/USD 1-day price chart: Bullish rally takes price beyond $2.00 fence

The one-day Polygon price analysis is dictating that a rise in price has taken place in the last 24 hours. The circumstances have been going extremely favorable for the bulls for the past two weeks. This week has seen a fluctuation in price movements, as well as the bears, were struggling to regain their position. Today’s trend, however, has been extremely supportive for the buyers as the price has increased up to the $2.00 level.

Polygon price analysis: Bullish swing results in price climbing above $2.00 1
MATIC/USD 1-day price chart. Source: TradingView

The moving average (MA) value in the one-day price chart is at the $1.923 level. Whereas the Bollinger bands average is maintained at $1.714, while the upper Bollinger band is touching $2.137 point and the lower Bollinger band is touching $1.291 point. The Relative Strength Index (RSI) score has improved up to 65.94.

Polygon price analysis: Bearish slide devalues MATIC price up to $1.999

The four hours Polygon price analysis is showings signs of a bearish trend, as the price has dropped down on a significant level. The reversal in trends was quite unexpected, as the bulls were leading the price chart earlier. Nonetheless, a downward trend has been observed in the last four hours, as the price has moved down to the $1.999 level. The price has gone below the moving average value i.e. $2.00 as a result of the bearish trend.

Polygon price analysis: Bullish swing results in price climbing above $2.00 2
MATIC/USD 4-hours price chart. Source: TradingView

The SMA 20 curve is still above the SMA 50 curve as the bullish wave had been quite strong in the earlier part of the day. The upper Bollinger band value for the four hours price chart is at $2.096 where the lower Bollinger band value is at $1.781. The RSI score is in the neutral zone, as it is showing the figure of 54.74.

Polygon price analysis: Bullish swing results in price climbing above $2.00 3
MATIC/USD technical indicators chart. Source: TradingView

The bullish trend has been quite dominating in the last few months, and the price has reached quite high points. This is why the technical indicators chart for MATIC/USD is giving out a positive signal. There are 16 indicators present on the buying position, 10 indicators are on the neutral position and zero indicators are on the selling position.

The moving averages indicator is dictating a strong rise in price as well by giving a bullish sign. There are 14 indicators standing on the buying position, one indicator is on the neutral position while zero indicators are on the selling position. The Oscillators are confirming the uptrend as well and there are two indicators on the buying level, nine indicators on the neutral level, and zero indicators on the selling level.

Polygon price analysis conclusion

The one-day and four hours Polygon price analysis shows that the market has followed an upward trend for the day. The price has improved considerably and is now touching the $2.00 mark. On the other hand, a drop in price was detected in the last four hours which means that the approaching hours might bring loss.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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