Short
Polygon MATIC could fall to $0.94-$0.69
$BINANCE:MATICUSDT
For Polygon, there seems to be a tight trading range where bears are selling on relief rallies while bulls are attempting to defend support at $0.94. However, the down-sloping 20-day EMA and negative RSI indicate that the path of least resistance is downwards.
If bears push the price below $0.94, it could drop to $0.69. On the other hand, if the price breaks above the 20-day EMA, it may indicate a stronger recovery and a potential rise towards the resistance line.
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For Polygon, there seems to be a tight trading range where bears are selling on relief rallies while bulls are attempting to defend support at $0.94. However, the down-sloping 20-day EMA and negative RSI indicate that the path of least resistance is downwards.
If bears push the price below $0.94, it could drop to $0.69. On the other hand, if the price breaks above the 20-day EMA, it may indicate a stronger recovery and a potential rise towards the resistance line.
Let me know what you think!
Follow me for more TA!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.