CandleFocus Polygon Reaches The Price Target Of $1.30 And Continues To Rise
2024-12-05
Author: Content Editor
The price of Polygon's Ecosystem Token (POL) has recovered and reached a high of $0.71. Buyers are driving the price towards its previous high of $1.30, with indicators suggesting further growth. The cryptocurrency experienced a retracement, testing the 61.8% Fibonacci retracement line, but is expected to rise to the Fibonacci extension of $1.618 or $0.77. The moving average lines indicate an uptrend, with the 21-day SMA above the 50-day SMA indicating a bullish crossover. Resistance levels are set at $1.20, $1.30, and $1.40, while support levels are at $0.60, $0.40, and $0.30. Polygon is currently in an uptrend on the 4-hour chart and will resume its upward movement once it breaks above the $0.75 mark. However, readers are advised to conduct their own research before investing.
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