The price of Polygon’s Ecosystem Token (POL) has continued a horizontal trend over the past two months. The cryptocurrency price has remained steady between $0.37 and $0.42.
POL price long term prediction: ranging
Over the past week, the price of the cryptocurrency has remained stable between $0.36 and $0.37. The price movement has slowed down and is characterised by doji candlesticks. Polygon has spent the last week trading in a narrow range between the $0.36 support and the moving average lines. Polygon is now worth $0.37. The altcoin has reached bearish exhaustion and is trading at the bottom of the chart.
Polygon Ecosystem Token indicator analysis
The price bars are above the moving average lines, which are sloping south. On the 4-hour chart, the moving average lines are horizontal, indicating a sideways trend. The price action has been steady, with doji candlesticks dominating the price action.
Technical Indicators
Resistance Levels: $1.20, $1.30, $1.40
Support Levels: $0.60, $0.40, $0.30
What is the next move for Polygon Ecosystem Token?
Polygon has continued to move within a narrow range. On the 4-hour chart, the cryptocurrency price is consolidating above the $0.36 support but below the $0.38 resistance level. The price movement looks stationary due to traders’ indecision.
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.
Source: https://coinidol.com/polygon-traders-indecision/