Polygon (MATIC) Presents Long Entry Trigger Around These Lows
- Polygon price indicates two massive support confluence at $1.33.
- Retesting this barrier remains vital in triggering a remarkable upward move towards $2.1.
- A daily candle close beneath $1.15 will form lower lows, annulling MATIC’s bullish thesis.
MATIC has experienced downward movements since creasing a celling near a critical zone. Meanwhile, the latest bounced formed a local high. Nevertheless, enthusiasts may expect a slight retracement to a support confluence to catalyze a colossal buying momentum.
Polygon Price on a Decisive Moment
MATIC had its price forming a double top near $2.1 before declining by 44%. As the alternative crypto hovers near $1.51, traders might witness a slight downward move. However, the downtrend would mean a bullish fall because of the equal lows confluence at $1.33 plus the 3-day demand area, stretching between $1.15 and $1.35.
A rebound from this junction appears vital in gathering liquidity and launching a massive upswing for Polygon price. Interested individuals may go long around $1.33 and expect an explosive upside from MATIC. They can then book profits around the $1.54 mark, the level housing the initial equal high. Beyond this, MATIC bulls will meet challenges at $1.64, then $1.94.
Enough bullish momentum will see MATC flipping these obstacles to support zones, allowing Polygon to surge towards the psychological zone at $2. Market makers will stretch this leg-up beyond $2.1 to gather liquidity beyond these equal peaks.
Though everything seems upward for MATIC price, failure to maintain beyond the support confluence will show buyers’ weakness. A daily candle close under $1.15 will form a lower low, invalidating MATIC’s bullish thesis. Such developments would clear the road for more retracements. Therefore, interested crypto traders may place stop-losses around this mark.
Polygon price indicates a confluence of massive support barriers at $1.33. Retesting the area remains crucial in triggering an impressive upward move towards $2.1. Nevertheless, buyers need to prevent a 24hr candle close under $1.15. Such a move would cancel the alt’s bullish narrative.
What are your thoughts about MATIC’s current price condition? You can share your comments in the section below.
Editorial credit: Dennis Diatel / shutterstock.com
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