Polygon in recent times had shown a notable strength and displayed the possibilities of attaining $2 levels at the earliest. Woefully, the asset took a serious u-turn and reversed the trend finely. Currently after hitting the monthly highs above $2, quickly flipped and maintained a serious descending trend. The constant lower highs and lows which does not seem to ease out, point out towards the asset maintaining the descending trend until it reaches the immediate support around $1.5.
The MATIC price in the short term is signalling out one of the notable bullish signals. The asset is trending within a falling wedge and may test the lower support once again before breaking through the wedge. And hence the asset may be primed to hit the $1.5 levels yet again before laying out a plot to hit the upper resistance at $2.
MATIC price is trading within a falling wedge which is visible in most of the popular crypto assets. And hence continuing to trend within the same patten the asset is expected to hit hte lower support at $1.54. After it hits, then a strong flip may get ignited which may escort the price towards the upper levels slicing through the pattern. The immediate target may be around $1.73, yet the upper target at $2 may be the next stop for the asset to achieve.
The RSI is constantly trending within the lower levels from past couple of days, where-in each flip is been rejected. Moreover there is not noble selling pressure and hence a slight upswing in the buying volume may ignite with a strong uptrend. However, the buying volume was also not up to the mark.
And therefore, the buyers are also not appearing pretty strong as of now. Yet in the upcoming days, the market trend is expected to change a little which may strengthened the rally to certain extent. No doubt a notable bul rally is quiet tough to occur, yet a healthy uptrend may give a considerable value for the asset.
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