The price of Polygon’s Ecosystem Token (POL) has hit rock bottom. Price analysis by Coinidol.com.
Polygon Ecosystem Token price long-term prediction: bearish
The negative momentum reached a low of $0.224 after breaking the previous low of $0.29. The lower price level is no longer the focus of selling pressure. The oversold area of the market has been reached by the cryptocurrency. The altcoin has reached a plateau above the support level of $0.224. The uptrend will start if the current support holds. POL will rise and retest the initial barrier of $0.35.
At the time of writing, the POL price is at $0.244.
Technical Indicators
Resistance Levels: $1.20, $1.30, $1.40
Support Levels: $0.60, $0.40, $0.30
POL indicator analysis
The bottom of the chart has seen a big drop in the price bars. The altcoin is correcting upwards on the 4-hour chart, but the price bars are below the moving average lines. When the price bars are above the moving average lines, the polygon rises.
What is the next move for Polygon Ecosystem Token?
According to Coinidol.com, on the 4-hour chart, the altcoin is trading below the moving average lines and above the $0.25 support. If the buyers keep the price above the moving average lines, the positive trend will resume. POL is now trading at the bottom of the chart.
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-price-suffers/