CandleFocus Polygon Reaches Its Lowest Price And Faces The $0.50 Hurdle
2024-12-25
Author: Content Editor
The analysts at Coinidol.com are reporting that Polygon's Ecosystem Token (POL) has fallen below the moving average lines on December 19, indicating the possibility of further decline. Currently, POL is correcting upwards towards the 50-day SMA, but if it fails to sustain above this level, selling pressure is expected to emerge. The price bars have fallen below the moving average lines and the moving averages are trending downwards on the 4-hour chart, suggesting a bearish trend. 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 analysts predict that if the price fails to sustain above the 50-day SMA, it may fall to the existing support level of $0.40. However, it is important to note that this analysis and forecast are the personal opinions of the author and should not be viewed as a recommendation to buy or sell cryptocurrency. Investors should conduct their own research before making any investment decisions.
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