Polygon price analysis: MATIC value surges towards $0.89 level

Polygon price analysis shows that the cryptocurrency has followed a bearish trend that is showing further opportunities for reversal activity, with the price of MATIC/USD moving below the $0.82 level. On September 3, 2022, Polygon’s cost experienced a flash crash and reached $0.866, but continued to increase to $0.880 on September 4, 2022, which is Polygon’s current price today.

Market momentum appears to be declining sharply. The polygon is up 0.82% in the last 24 hours with a trading volume of $264,375,734. Polygon is currently ranked 464th with a live market cap of $7,642,288,617.

MATIC/USD 4-hour Price Analysis: Latest Developments

Polygon price analysis shows that the volatility of the market shows clearly decreasing characteristics. The price of MATIC/USD, which can change, changes when volatility swings to either extreme; Before that, Polygon’s cost remains stable and around the respective support and resistance levels. As of now, Polygon price seems less prone to volatile changes. As a result, the upper limit of Bollinger’s Band is $0.907, which serves as Polygon’s strongest resistance. Conversely, the lower boundary of Bollinger’s Band is $0.841, which is the strongest support for Polygon.

MATIC/USD price seems to be crossing the moving average curve, which indicates an uptrend. Nonetheless, Polygon price appears to be moving higher, causing the cryptocurrency to track an increasing movement in terms of its trading price. As a result, the price will break the resistance and reverse the market.

MATIC/USD 4 hour price chart Source: TradingView

Polygon price analysis shows that the Relative Strength Index (RSI) is 57, indicating that the cryptocurrency falls into the upper neural category and shows no signs of depreciation or overvaluation. Furthermore, the RSI path seems to be following an upward direction, which suggests that Polygon’s price is experiencing increasing value. The RSI score increases due to the dominance of buying activity.

Polygon price analysis for 1 day

Polygon price analysis shows the volatility of the market following a decreasing trend, which means that the price of MATIC/USD will follow the volatility to become less prone to volatile changes. Furthermore, the upper limit of Bollinger’s Band is located at $0.921, which serves as the strongest resistance for Polygon. Conversely, the lower boundary of Bollinger’s Band is $0.745, which serves as a support point for Polygon.

MATIC/USD price appears to be crossing the moving average curve, indicating bullish momentum. Bulls control the market for now and are likely to lose control when the odds are in their favor; However, the market is showing more positive opportunities as the price is moving up towards the resistance band and it could surpass the moving average soon.

Polygon Price Analysis: MATIC Value Rises Towards $0.89 Level 1
MATIC/USD 1-day price chart Source: TradingView

The Relative Strength Index (RSI) is 54, indicating that the cryptocurrency is stable and falling into the central neutral zone. The RSI path appears to be following a slight downward direction, indicating a bearish market and a move towards further decreasing momentum. The RSI score decreases when selling activity exceeds buying activity.

Conclusion of the Polygon price analysis

Polygon price analysis has revealed that the bulls are in control of the market with the massive opportunity for further bullish activity. Although the market appears to be showing potential for a trend reversal, we cannot be certain that it will happen. However, the breakout could be a silver lining for the Polygon cryptocurrency as its market is gripped by bullish dominance. The bears could be the new winners of the market in the near future.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com is not liable for any investments made based on the information provided on this page. We strongly recommend independent research and/or advice from a qualified professional before making any investment decisions.

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