Polygon price analysis: Price easily surpasses $1.895 resistance after upsweep

Polygon price analysis Price easily surpasses resistance after upsweep

TL;DR Breakdown

  • The price has reached $1.985 height.
  • Polygon price analysis shows an uptrend.
  • Support is significantly strong at $1.106.

The price has been advancing quite rapidly over the past few weeks as per Polygon price analysis. The bulls have been successfully maintaining their lead and an upward trend has been following for the cryptocurrency. A record increase in price was recorded during the last 24 hours as well as the price managed to breach the $1.89 barrier. Right now, it is settled at the $1.985 position and it is expected that it will reach further heights.

MATIC/USD 1-day price chart: Price grows beyond $1.98 limit marking a huge success

The bulls have been reigning the price chart for the past few weeks and the MATIC/USD value has improved tremendously. A rise in price has been recorded during the last 24 hours as well, as the price climbed above the $1.98 level. The increasing trend is expected to intensify further in the period of upcoming days as well. If we mention the moving average indicator in the one-day price chart, then it is at the $1.658 position.

Polygon price analysis: Price easily surpasses $1.895 resistance after upsweep 1
MATIC/USD 1-day price chart. Source: TradingView

The volatility has undergone an increase, which on the contrary, is not a good sign. Moving on, the Bollinger bands’ values have shifted as well as now the upper band is at $1.895 and the lower band is at $1.106. The Relative Strength Index (RSI) score has surmounted the over-bought limit by reaching 75.

Polygon price analysis: Bulls transcend $1.96 boundary after repeated wins

The four hours Polygon price analysis is showing signs of an upswing as the price has improved remarkably during the day. The bullish momentum has been intensifying over the past few hours and the price has been progressing in a steady manner. Currently, it is present at the $1.98 mark, and it is expected that it will reach a higher point. The moving average is still at a lower level as compared to the price i.e. at $1.832.

Polygon price analysis: Price easily surpasses $1.895 resistance after upsweep 2
MATIC/USD 4-hours price chart. Source: TradingView

The Bollinger bands indicator in the four hours price chart is maintaining the average value of $1.779. Whereas its upper value has reached the $1.96 limit and its lower value is at the $1.60 position. The RSI score is expected to soon touch the 70 mark as well as it just reached 67.8 level.

Polygon price analysis: Price easily surpasses $1.895 resistance after upsweep 3
MATIC/USD technical indicators chart. Source: TradingView

The past few months have proved to be quite profitable for the MATIC/USD market value. This is why the technical indicators chart is giving an indication of a strong uptrend by a bullish signal. There are 16 indicators present on the buying position, 10 indicators on the neutral position, and zero on the selling position.

The moving averages indicator is showing its support for the buyers as well. There are 14 indicators that are on the buying level, one indicator is on the neutral level while no indicators are on the selling level. The Oscillators are giving out a buying signal, with nine oscillators on the neutral level, two oscillators on the buying level, and again zero oscillators on the selling level.

Polygon price analysis conclusion

The Polygon price analysis suggests that the price is on the rise once again as the bulls have been performing quite consistently for the past few weeks. An uptrend has been dominating the market, and the MATIC/USD value has reached the $1.985 level in the last 24 hours. A similar increasing tendency has been observed in the last four hours as well, which means that the coming hours will most likely prove to be supportive.

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.

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