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Polygon Eyes Key Resistance as TD Sequential Flashes Buy Signal

Polygon Eyes Key Resistance as TD Sequential Flashes Buy Signal
The Crypto Analyst Ali suggests that Polygon (MATIC) is currently trading within a descending triangle pattern, indicating a crucial moment for its price. The TD Sequential indicator has shown a buy signal on the weekly chart, signaling a potential rebound. The price recently hit a key support level around $0.30 before recovering to $0.31823, resulting in a 4.55% weekly gain. The overall market trend for MATIC remains bearish, with lower highs since its peak in 2021. The descending trendline acts as a strong resistance, consistently pushing the price down. The historical resistance levels will play an important role in determining MATIC's next move. The TD Sequential indicator, which has presented a "9" count, suggests trend exhaustion and could lead to reversals or continuations depending on market conditions. If the price manages to break above the descending trendline, it could indicate a shift in momentum and a potential broader recovery. However, failing to sustain above the current support zone could result in further downside movement, potentially driving the price to lower levels. Ali_charts emphasizes that MATIC's next move depends on its ability to hold above the support level and the descending triangle pattern remains a crucial factor in defining its price action.

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