Polygonal price analysis shows that the cryptocurrency is in a downtrend and has more upside opportunities, with the MATIC/USD price moving below the $0.82 level. On July 26, 2022, the Polygon price jumped to $0.74 but continued to rise to $0.801, which is the current Polygon price, July 27, 2022.
Market dynamics appear to have declined sharply. Polygon is up 6.02% in the last 24 hours with trading volume of $916,221,068. Polygon is currently ranked 464th with an immediate market cap of $6,443,119,372.
MATIC/USD 4-hour Price Analysis: Latest Developments
Polygonal price analysis shows that market volatility has significant bearish characteristics. The price of MATIC/USD, which is subject to change, will change when volatility swings to one of the two extremes; Prior to that, the Polygon price remained stable and hovered around the respective support and resistance levels. At the moment, the Polygon price seems less susceptible to volatile swings. As a result, the upper limit of the Bollinger Band is $0.902, which serves as the strongest resistance for the Polygon. On the other hand, the lower limit of the Bollinger Band is $0.710, which is the strongest support for Polygon.
The price of MATIC/USD seems to be crossing the moving average curve, indicating an uptrend. However, the price of Polygon appears to be moving lower, causing the cryptocurrency to follow a bearish move with respect to its trading price. As a result, the price will break through the support and reverse the market.
The polygonal price analysis shows that the Relative Strength Index (RSI) is 48, indicating that the cryptocurrency belongs to the neural core category and shows no signs of under or over valuation. Furthermore, the path of the RSI appears to be following a linear direction, indicating that the Polygon price is experiencing sustained value. RSI results remain inactive due to the equality of buying and selling activity.
TPA price analysis for 1 day
Price analysis from various angles shows the volatility of the market after a downtrend, which means that the price of MATIC/USD will follow the volatility of being less susceptible to volatile changes. Furthermore, the upper limit of the Bollinger Band is available at $1, which serves as the strongest resistance for the Polygon. In contrast, the lower limit of the Bollinger Band is $0.492, which serves as a support point for the Polygon.
The MATIC/USD price seems to be crossing the moving average curve, indicating bearish momentum. The bears control the market for now and will most likely lose control if the odds are against them; However, the market shows a more positive opportunity as the price is moving towards the resistance band and could soon surpass the moving average.
The Relative Strength Index (RSI) is 56, indicating that the cryptocurrency is stable and falling into the central neutral zone. The path of the RSI seems to be following a slight uptrend, indicating a bullish market and a move towards further upward momentum. The RSI score increases when buying activity exceeds selling activity.
The conclusion Polygon price analysis
Polygonal price analysis concludes that bears control the market with a high probability of further gains. While the market appears to be showing a potential trend reversal, we cannot be certain that it will. However, a breakout could be good food for polygon cryptocurrencies as the market is gripped by bearish dominance. Bulls could be the new market winners in the near future.