The post Will Polygon Crypto Breakout Signal A 40% Rally To $0.64? appeared on BitcoinEthereumNews.com.

Polygon crypto has been trading in the range of $0.47 to $0.41 showing price consolidation. This means that there is a high likelihood of a breakout, with traders and analysts predicting that the price could rise by 40%. This range is being closely monitored in order to identify whether $ POL will start a bullish trend or experience further bearish pressure. Key Resistance and Support Levels in Focus Notably, the $0.47 level is the key resistance area for $POL while the $0.41 level is a key support region. These boundaries have been tested several times in the past few weeks, which shows the struggle between the buyers and the sellers. Crypto analyst Ali Martinez pointed out that if POL breaks past $0.47, this will probably be a sign of further growth. This may lead the token price towards the next resistance level at $0.64. – Advertisement – Source: X On the other hand, a fall below $0.41 shall affirm bearish sentiment and direct $POL towards lower Fibonacci retracement levels. This support and resistance range is also in line with historical trading volume, which provides a strong indication of the token’s future trajectory. MACD and Stochastic RSI Indicate Polygon Crypto Price Next Move More so, the MACD for POL indicates a bearish crossover as the MACD line (blue) falls below the signal line (orange) with the values around -0.0001. This shows that bullish power is decreasing. The histogram also points to a loss of upward momentum, and hence further downward pressure in the near future. If the MACD does not bounce back above its signal line, it will serve to sustain a bearish outlook further. Source: TradingView Conversely, the stochastic RSI is at 41.17 for POL, and it is still rising but remains below the midpoint. This shows early signs of…

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Filed under: News - @ January 16, 2025 3:12 am