Polygon (MATICUSD) Price Forecast: November 7
Amidst the current uncertainties in the crypto market, the MATICUSD continues to maintain an overall bullish outlook while the price is approaching the $0.900 upper resistance level. Thus, a strong push from the current price at the $0.698 supply value above the supply trend levels will put the crypto in a strong bullish trend and this may further extend to a $1.000 resistance level resulting in intraday gains for the buy traders.
Key Levels
Resistance Levels: $0.800, $0.900, $1.000
Support Levels: $0.650, $0.600, $0.550
MATIC (USD) Long-term Trend: Bullish (Daily Chart)
Polygon‘s price is in a bullish market at the moment. Further, the coin price is approaching the upper resistance area making higher highs and higher lows.
The coin buyers’ pressure to a $0.682 high mark during yesterday’s session has made it possible for the coin to remain firm in an uptrend in its recent high.
The buy traders made a strong push to the $0.698 resistance level above the moving average as the daily chart opens today which indicates an intraday growth and more gains for buyers.
A possible bullish breakout from this barrier will accelerate the buying pressure and bolster buyers to further extend this price rally.
Adding to that, the underlying sentiment suggests an uptrend continuation in the coming days as indicated by the daily stochastic. It is expected of buyers to push the price of MATICUSD further up to a significant level and in this case, the target might be $0.900 upper resistance level in the days ahead as the price approaches the upper resistance level in its higher time frame.
MATIC (USD) Medium-term Trend: Bullish (4H Chart)
At the time of writing, MATICUSD is trading in an uptrend and approaching the upper resistance level in its medium-term perspective. The prices are above the EMA-50 line and have confirmed a bullish momentum breaking the previous high at $0.683 value.
The coin has been making higher highs and higher lows in previous actions; this has made it possible for the price to maintain an uptrend in its recent high.
The bulls made an aggressive move up to the $0.698 resistance level above the EMA-50 shortly after the 4-hour chart opened today. The price, wavering above the moving averages approaching the upper resistance level indicates the high impact from the bulls. This however makes it possible for the coin to rise further.
Additionally, with buyers clustering around the market as indicated by the daily price signal, the price of Polygon is expected to rise above the $0.900 supply value which could further extend to the $1.000 upper resistance mark in the days ahead as the price approaches the upper resistance level in its medium–term outlook.
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