The Polygon Ecosystem Token (POL) is now at the bottom of the chart in terms of price.
Polygon Ecosystem Token price long-term prediction: bearish
The price of the cryptocurrency has dropped to $0.168. The cryptocurrency is nearing its lowest price at $158. The bulls bought the dips when Polygon hit its lowest price level on April 9, as reported by Coinidol.com. The altcoin may find support near the previous low after falling to its lowest price point of the day.
Moreover, the cryptocurrency value has fallen into the oversold area of the market. The value of the altcoin will rise as buyers enter the oversold area. Polygon could stop its fall above the $0.15 support as the market approaches the oversold area.
POL price indicators analysis
The moving average lines at the bottom of the chart are sloping horizontally. POL is falling as the price bars are below the moving average lines. The 21-day SMA is below the 50-day SMA in both charts, indicating bearish momentum. However, the price movement is always characterized by the doji candle, which slows down the price movement.
Technical Indicators
Resistance Levels: $1.20, $1.30, $1.40
Support Levels: $0.60, $0.40, $0.30
What is the next step for the Polygon Ecosystem Token?
Polygon is bearish and moving back towards the bottom of the chart. The altcoin has fallen above the $0.165 support in the last 48 hours. It is trading above the current support of $0.165 and below the resistance of $0.1750.
Once the current support is broken, the selling pressure will start.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
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