CandleFocus

Polygon Returns To Trading After Crossing The $0.45 Mark

Author: Content Editor
The price of the Polygon Ecosystem Token (POL) has risen above the moving average lines and reached a high of $0.4471. However, it failed to break above the resistance at $0.45. If the altcoin retraces and finds support above the 50-day SMA level, the uptrend will continue with a potential high of $0.56. On the other hand, if the price falls below the moving average lines, the altcoin's slide will resume, returning to its usual range above the support of $0.30. Currently, Polygon is trading in the uptrend zone, but there is selling pressure on the 4-hour chart. Resistance levels are at $1.20, $1.30, and $1.40, while support levels are at $0.60, $0.40, and $0.30. An analysis from Coinidol.com suggests that Polygon is in a downtrend and could reach a low of $0.30 unless the bulls maintain support. This analysis is a personal opinion and not a recommendation to buy or sell cryptocurrency.

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