Polygon (POL) Price Prediction 2023

Polygon's Ecosystem Token (POL) price has fallen further as it loses its current price range. Price analysis by Coinidol.com.

Polygon's native token, MATIC, has seen a further decline in its value as it fails to maintain its current price range. Here's a price analysis of MATIC by Coinidol.com.

Polygon MATIC price long-term technical analysis: bearish

MATIC has been trading within a range of $0.62-$0.74 since April 13. On June 13, the bears broke below the $0.62 support and reached a low of $0.52. The crypto entered the oversold region of the market. On June 18, the bulls reacted to the lower price by buying the dips, which resulted in an extended candlestick tail. The long candlestick tail shows strong buying pressure at the lower price.

If the current support level of $0.52 holds, the altcoin will resume its uptrend. At the time of writing, MATIC is trading at $0.56.

Polygon MATIC indicator analysis

MATIC has dropped sharply as the price continues to trade below the moving averages. The horizontal moving averages are now pointing downward as a result of the recent dip. The price bars are trading consistently below the 21-day SMA resistance line.

Technical Indicators

Resistance levels: $1.20, $1.30, $1.40

Support levels: $0.60, $0.40, $0.30

What's next for Polygon MATIC price analysis

Polygon is trading at the bottom of the chart and has reached a low of $0.52. If the current support holds, then POL will trade between $0.53 and the resistance level of $0.60. The altcoin is showing signs of bearish exhaustion as it rallies up from its recent low of $0.52.

News source：https://www.kdj.com/cryptocurrencies-news/articles/polygon-pol-price-prediction.html

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