Polygon’s Ecosystem Token (POL) is trending sideways after crashing to the bottom of the chart. The price of the cryptocurrency fell to $0.244 before rising again.
Long-term prediction of the POL price: rising
Selling pressure has eased since February 3, when the altcoin started to consolidate above the $0.29 support. POL is trading below the moving average lines but above the $0.29 support.
The presence of doji candlesticks has limited the price movement to a certain range. Traders who are unsure about the direction of the market are represented by the Doji candlestick. The value of the altcoin will rise if the current support remains in place. It will rise to its previous high of $0.50. Today, POL is worth $0.318.
POL indicator analysis
The price bars indicate the decline as they are below the moving average lines. POL is preparing for the uptrend by maintaining its position above the current support. The moving average lines are now at the bottom of the chart.
Technical Indicators
Resistance Levels: $1.20, $1.30, $1.40
Support Levels: $0.60, $0.40, $0.30
What is the next step for Polygon Ecosystem Token?
Polygon’s price range is currently between $0.29 and $0.33.
According to the price analysis by Coinidol.com, on the chart, the altcoin is trading at the bottom. POL will continue its uptrend if buyers keep the price above the moving average lines or the resistance at $0.45 on the daily chart. Selling pressure has eased since February 3 when the altcoin started consolidating above the $0.29 support.
Disclaimer. This analysis and forecast are the personal opinions of the author, 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-will-continue-bullish/