The Polygon Ecosystem Token (POL) price is still trading above the moving average lines, but below the $0.47 barrier.
Long-term fuel price forecast: bullish
The price of the Polygon ecosystem token (POL) has remained bullish above its moving average lines since its last decline on November 14th. On November 14, as reported by Coinidol.com, the bears broke below the 50-day SMA, but the bulls bought the dips. The altcoin rose from $0.34 to $0.47. POL began a trend of higher highs and higher lows. The uptrend meets first resistance at the $0.46 high. If the bulls break the $0.46 barrier, the market will rise to a high of $0.60.
If the bulls break the $0.46 barrier, the market will rise to a high of $0.60. Meanwhile, the altcoin is trading above the moving average lines but below the $0.46 barrier. POL is now $0.43.
GENDER indicator analysis
Polygon resumed the upward trend, price bars remained above the moving average lines. Both charts show a bullish crossing of the moving average lines, suggesting that the cryptocurrency will continue to rise. Price action is characterized by small, indecisive candles known as doji.
Technical indicators
Resistance levels: $1.20, $1.30, $1.40.
Support levels: $0.60, $0.40, $0.30.
What is the next step for the Polygon Ecosystem token?
On the 4-hour chart, Polygon is in an uptrend, the price has risen above the moving average lines. POL is trading above the moving average lines but below the $0.46 resistance level. An upward movement will begin when the price breaks through the moving average lines.
Disclaimer. This analysis and forecast are the personal opinion of the author. They are not a recommendation to buy or sell cryptocurrency and should not be considered an endorsement by CoinIdol.com. Readers should conduct research before investing in the funds.
