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Mastering Crypto

08/12 08:55

Polygon price analysis

The bulls failed to thrust Polygon above the 50-day SMA ($0.70) in the past two days, but a positive sign is that they have not given up much ground.

This suggests that the short-term bulls are holding on to their positions as they anticipate the relief rally to continue. If the 50-day SMA is surmounted, the MATIC/USDT pair could start a rally to $0.80 and then to $0.90.

Contrary to this assumption, if the price turns down sharply from the current level, the pair may retest the strong support at $0.64. If this level gives way, the pair may start a decline to the next support at $0.60.1691830572234.png

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