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Polygon price analysis: MATIC to face resistance at $1.54 as the price recovers to $1.45

Polygon price analysis MATIC to face resistance at as the price recovers to

TL;DR Breakdown

  • The Polygon price analysis is bullish.
  • Resistance for MATIC is present at the $1.54 level.
  • Support for MATIC is present at $1.37.

The Polygon price analysis indicates an improvement in price levels as the bulls have made a comeback once again. The past week proved extremely discouraging for the crypto pair as the price trend changed in the bearish direction and the coin lost significant value in the past few days. Yet, today the situation has changed as the bulls are struggling to maintain the price levels above $1.45. But a further improvement in price levels is only possible if bulls gain more momentum in the coming hours.

MATIC/USD 1-day price chart: MATIC recovers to $1.45 after a continuous downslide

The one-day Polygon price analysis is going in the bullish direction again after a severe downtrend. The price has recovered to $1.45 today as bulls took charge of the price function at the start of today’s trading session. However, the crypto pair is still reporting a loss in value amounting to 4.55 percent over the past 24 hours, and as the trend remained bearish for most of the time in the past week, the coin also reports a loss of 15.17 percent over the past week.

Polygon price analysis: MATIC to face resistance at $1.54 as the price recovers to $1.45 1
MATIC/USD 1-day price chart. Source: TradingView

The moving average (MA) is trading at $1.57 below the SMA 50 curve and above the current price level. As the volatility is high, the Bollinger bands values show a small change. Now, the upper value is placed at $1.76, while the lower value is present at $1.41. The Relative Strength Index (RSI) has also moved in the upwards direction; the curve is not steep but in the positive direction as the reading has reached index 42 after today’s buying activity.

Polygon price analysis: Recent developments and further technical indications

The 4-hours Polygon price analysis is following the bullish trend as well as the price has upgraded again. The price levels are going up after going through a massive decline. Currently, the price is trading at $1.45 after gradual progression by the bullish side and is expected to go a bit up from here towards a better position.

Polygon price analysis: MATIC to face resistance at $1.54 as the price recovers to $1.45 2
MATIC/USD 4-hours price chart. Source: TradingView

The volatility is on the decreasing side as the upper Bollinger band has adjusted itself at $1.55 after traveling steeply low and the lower Bollinger band at $1.42. The RSI score has improved to index 35 after the uptrend.

Polygon price analysis conclusion

The Polygon price analysis suggests the price is on the recovery today as it has been able to reach the $1.45 level during the last few hours. The price has improved minimally if we compare it with the last week’s statistics. There are further chances of recovery for the bulls, but bulls need to show good momentum, which is lacking at the moment.

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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