CandleFocus

Polygon Consolidates Above $0.51, But Risks Decline

Author: Content Editor
The price analysis by Coinidol.com indicates that Polygon's Ecosystem Token (POL) price has remained steady following a drop on December 20. The cryptocurrency has been trading above the support level of $0.45 but below the moving average lines. It is predicted that the price will fall to $0.27 or the 2.0 Fibonacci extension. The altcoin has corrected above the $0.45 support but is still trapped between the moving average lines. The emergence of doji candlesticks has caused the price action to remain static. Once POL falls below the 21-day SMA, it is expected to start negative movement. The resistance levels for POL are $1.20, $1.30, and $1.40, while the support levels are $0.60, $0.40, and $0.30. The cryptocurrency will perform once it breaks out of its confinement, with a potential decline if the price falls below the 21-day SMA. This analysis and forecast are personal opinions and should not be seen as a recommendation to buy or sell cryptocurrency.

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