MATIC/USD Bulls In, Bears Out

Polygon bulls finally regain the upper hand on the 22nd of September at $0.697. That price level was where they had their support. Initially, at the resistance level of $0.9383, the bears became strong and they made the market go their way for 9 days (that is from the 13th to the 21st) despite the effort of the bulls. But from the $0.697 support level, the bulls charged back to the difficult $0.900 price level.

Polygon Market Price Statistic:

• MATIC/USD price now: $1.15
•  MATIC/USD market cap: $10,054,547,674.35
•  MATIC/USD circulating supply: 8,734,317,475
•  MATIC/USD total supply: 10,000,000,000
•  MATIC/USD coin market ranking: #11

Key Levels

• Resistance: $1.200, $1.250, $1.300
• Support: $1.000, $0.900, $0.800

Polygon Market Price Analysis: The Indicators’ Point of View

Bulls were very successful in breaking the $0.900 price, despite the strong bearish resistance at that level. The struggle at the $0.900 resistance level started on the 25th of October and lasted till the 3rd of November before it broke through the resistance level. The price MATICUSD also went as far as breaking the $1.000 resistance level. The $1.000 resistance level was where the bullish market was defeated on the 14th of August. So, conquering this $1.000 price level, made the MACD line come out from the bearish zone; moving upward in the bullish zone. Bulls need to find higher support for their market today so that they can establish their trend.

MATIC/USD 4-Hour Chart Outlook

A marubozu candle opened the first session of today’s market. The bulls were totally in control of that session. For the first hour of trading, investors were only just buying the crypto. The second trading session was first taken by the bears, but later the bulls took over. Demand and supply have begun their price struggle again at this point. If buyers can secure support here, it will give them the advantage to continue the uptrend of the price.

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