Polygon Protocol Price Prediction: MATIC/USD Observes a Spike

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Polygon (MATIC) Price Prediction – November 4

Sequence to the northwardly serial motions in the range-bound trading zones, the MATIC/USD market now observes a spike, significantly breaching at the upper range value line. And the situation has propelled the price to trade around $1.168 at an average percentage rate of 22.82 positive.

MATIC/USD Market
Key Levels:

Resistance levels: $1.30, $1.35, $1.40
Support levels: $1.05, $1, $0.95

MATIC/USD – Daily Chart

The MATIC/USD daily chart reveals the crypto market observes a spike at a high rate as the price breaks past the recent resistance upper trading spot at $1. There has been no sign of retracement in the current bullish candlestick in the making above the trading indicators. The 14-day SMA is at $0.892, near the $0.846 value line of the 50-day SMA. And they are in the range-bound spots of $1 and $0.70 value lines. The Stochastic Oscillators have moved from the 20 to 35.44 and 58.66 range points in a southerly direction.

Do the MATIC/USD market operations have additional potential for pushing up?

At the time these insights are written, the MATIC/USD trade activities have the propensity to push for more gains as the crypto economy observes a spike. To avoid getting caught while executing late longing orders, the execution of new buying orders must be cautious in the interim. A short pull-down may be necessary to metamorphose into an energetic upward move to negate the potency of the market, succumbing to a rejection or a correction at the early stage.

On the downside of the technical analysis, selling operations may have to suspend until a formation is achieved around a high-resistance trading zone to decide when a sell order will be technically ideal. Going by the up-pulling forces, short-position placers in the MATIC/USD trade would have to put their actions on hold until a falling candlestick occurs. Noticeably, if the price has to go downing in a retracement fearfully against the critical support level of $1, the market worth will be settling for other cycles of sideways trading in ranges afterward.

MATIC/BTC Price Analysis

In comparison, Polygon’s trending posture versus the moving ability of Bitcoin on the daily price analysis chart has been wearing a bullish outlook over time. In other words, the cryptocurrency pair market observes a spike to elongate positions extensively over the buy signal side of the SMA trend lines. The 145-day SMA indicator is over the 50-day SMA indicator. The Stochastic Oscillators have crossed northbound from the oversold to 34.26 and 65.42 range values. That indicates the base crypto can still push for highs in the following active activities against the counter crypto.

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