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Polygon (MATICUSD) Price Looks Good for Long

Johnathon Fox
11/01/2023 | UPDATED ON: 11/01/2023

Polygon (MATICUSD) Price Forecast: November 1
MATICUSD‘s price remains bullish and also looks good for long traders at the present. The coin price will most likely continue its bullish run and the price could still go higher if the bulls are able to break up the $0.890 value, then we can expect a good upside momentum up to the $0.900 upper resistance level and beyond.

Key Levels
Resistance Levels: $0.700, $0.800, $0.900
Support Levels: $0.950, $0.850, $0.750

MATIC (USD) Long-term Trend: Bullish (Daily Chart)
The MATICUSD pair is positive and looks good for long traders in its higher time frame. The price responded to the shift in the market structure and is currently above the moving averages.
Polygon (MATICUSD) Price Looks Good for Long
The pressure from the bulls to the $0.638 supply value during yesterday’s session has sustained the coin price above the supply trend levels in its recent high.

Today, the long investors made a rally upwards to a $0.651 resistance level above the EMA-50; this implies an uptrend and also shows a bullish impact on the coin.

If the bulls should increase their price action, and a bullish momentum is sustained above the $0.890 resistance trend lines, further bearish sentiment will be hibernated.

In addition, the coin price has looked good for a long and remains in an uptrend on the daily signal, under the influence of this market level, the price of Polygon could rise steadily soon and break up the previous high of $0.890 level to reach the $0.900 resistance level soon, as we watch the crypto market turns strongly bullish and looks good for long traders in the long-term perspective.

MATIC (USD) Medium-term Trend: Bullish (4H Chart)
Despite the interference from sellers, the Polygon price still trades in the bullish trend market and looks good for long in its medium-term outlook. Price is trading above the supply trend line again. This however confirms the presence of more bulls’ impact on the coin.
Polygon (MATICUSD) Price Looks Good for Long
The coin has been having a series of higher highs and higher lows from the past session which has made it possible for the bulls to retain the strength in its recent high.

The bulls made a correction at the $0.651 supply value above the moving averages as the 4-hour chart resumes today. This will actually encourage the buy traders to invest in the crypto, as possible future gains are certain.

Thus, a possible breakout from the current retracement at the $0.651 neckline will accelerate the buying momentum and push the prices higher to hit the $0.657 previous resistance level.

Additionally, the daily stochastic signal points in an upward direction; this indicates that the MATICUSD price will continue rising which looks good for long traders. As a result of this, the next price target could be the $0.900 high trend mark soon in the medium-term perspective.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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