CandleFocus Polygon Recovers And Aims For A High Of $0.40
2024-11-08
Author: Content Editor
The price of Polygon's Ecosystem Token (POL) is rising after initially hitting support at $0.30. Bulls defended this support level, but bears later broke below it and reached a low of $0.28. However, bulls bought the dips and initiated an upside correction. The bulls have broken the 21-day SMA, but buyers are struggling to maintain bullish momentum above the moving average lines. If buyers are successful, POL will surpass the 50-day SMA or the $0.38 high. However, if the price remains between the moving average lines, POL will rise but remain trapped. The current price of POL is $0.34. On the 4-hour chart, POL has risen above the moving average lines and reached a high of $0.35, approaching the next resistance at $0.38. The upward movement of the price is slowed down by this resistance, but the uptrend will continue once it is overcome. The article concludes by stating that this analysis and forecast are personal opinions and not a recommendation to buy or sell cryptocurrency.
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