CandleFocus Polygon Recovers But Fails To Break Above The $0.42 Barrier
2024-10-13
Author: Content Editor
The price of Polygon's Ecosystem Token (POL) has been in a sideways trend since experiencing a price drop on August 5. The bears have not been able to push the price back to its previous low of $0.33 in the last two months. The moving average lines and a resistance level at $0.42 have been hindering an upward movement. Currently, the price is correcting upwards near the moving average lines. Both the daily and 4-hour charts indicate a sideways trend, with the price bars below the moving average lines. Resistance levels are at $1.20, $1.30, and $1.40, while support levels are at $0.60, $0.40, and $0.30. The 4-hour chart shows a limited price range and the development of doji candlesticks, which has kept the price stagnant. This analysis and forecast are the personal opinions of the author and readers should do their own research before investing.
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